Just two months ago, Shen Qi Medical completed hundreds of millions of dollars of Series B financing, invested by Sanzheng Health Investment and Tian Min Asset. In November last year, the company completed tens of millions of RMB in Series A financing, invested by Apricot Zephyr Capital.
Shen Qi Medical was founded in September 2014, is a collection of research and development, production and sales in one of the medical device high-tech enterprises, focusing on the field of high-value consumables products. The products involve four major segments: cardiovascular intervention, peripheral vascular intervention, neurovascular intervention and structural heart disease, of which the drug-coated coronary balloon catheter has obtained the NMPA registration certificate in December 2019, and it is the second enterprise to obtain the NMPA certification for drug balloon products. Another left ear blocker product is in the clinical trial stage and is expected to be available by the end of 2021.
Shen Qi Medical's founder, Dai Zhihao, graduated from the School of Public **** Health of Shanghai Medical University (now Fudan University) and has more than 20 years of professional experience in the industry. Shenqi Medical has a number of interventional and implantable medical device product development and production professionals, and the core members of the team have the experience of working in the U.S. medical device companies and leading medical device companies in China.
In 2019, China's overall use of drug balloons (80,000) in the field of cardiovascular interventional procedures only accounted for 4% of stents (2 million), and compared with the proportion of 15% in foreign countries, there is still a lot of room for the development of the domestic drug balloon market.
The drug balloon is currently used in many types of lesions. A mixed matrix of highly lipophilic paclitaxel and highly hydrophilic iopromide is loaded onto the balloon, which is delivered to the stenosis through a guidewire, quickly inflated to open the stenosis, and then quickly deflated and withdrawn. The drug can enter the local tissue of the vessel for a short period of time and achieve the effect of inhibiting proliferation.
As a new approach to coronary intervention, compared with traditional stent implantation, the drug balloon does not require a foreign body to be implanted, reduces endothelial inflammation, and has no risk of in-stent thrombosis. In addition, stent implantation patients need to take double antiplatelet coagulation drugs for up to one year after the operation, while drug balloon therapy can greatly reduce the time of taking to 1-3 months, reducing bleeding complications. Drug balloon therapy is not suitable for all lesions because of its high price and the possibility of vessel tearing and entrapment during the procedure, which necessitates stent implantation. However, drug balloon therapy is effective and has a good prognosis, and it is especially popular among young patients and those with a high risk of bleeding.
For the success of this financing, Dai Zhihao, the founder of Shenqi Medical, said: "The past 5 years is only the first step taken by Shenqi Medical, and in the future, Shenqi Medical will closely focus on the development of high-value medical device consumables. We hope to become a company with first-class competitiveness in the field of vascular intervention, structural heart disease treatment and heart failure management."
Mr. Yi Nuoqing, Co-Chief Investment Officer of High Tier Capital and Head of Biomedical and Medical Devices at High Tier Ventures, said, "Biomedical and medical devices have always been a key area of focus for High Tier, and Shenqi Medical is positioned as a platform company in the interventional field, with deep technological accumulations, reasonable product layouts, and a strong team with strong execution capabilities."
According to Chen Gang, Partner of LYFE Capital, a specialized US-China healthcare fund with approximately $1.3 billion in assets under management, "Shenqi Medical has high-quality and high-technology products, fast and efficient R&D, registration and industrialization systems, and strong commercialization capabilities. experience."