News from the investment community on December 28, recently,Yuewei MedicalAnnounced completeNearly 100 million yuan in A+ round of financing, this round of financing by:Noyu CapitalLead the pitchVenucia Holdings, Zhongnan Venture Capital**Co-investment, old shareholderIDG Capital, Yuanhui ChuangyiContinue to increase the size, Qingke entrepreneurship (1945HK) served as the exclusive financial advisor for this round of financing. Yuewei Medical was incubated and invested by Hetang Venture Capital in the early stage, and this financing is the second round of financing that Yuewei Medical has quickly completed within one year since the completion of Series A financing in April 2023At the same time, the company also exceeded the established financing target by a large proportion, which fully demonstrated the strong recognition and firm confidence of investors in the company. With the joint support of new and existing shareholders, the company will continue to strengthen the R&D and marketing of cardiac surgery and heart failure product lines.
Founded in 2021, Beijing Yuewei Medical Technology Co., Ltd. is an innovative enterprise focusing on the research and development of devices in the field of cardiac surgery and heart failure. Based on the founding team's many years of clinical experience in cardiac surgery, the company excavates clinical needs, and at the same time combines the development status of related fields to develop a variety of medical devices to fill the clinical gap and accelerate the development trend of domestic substitution of high-end medical devices in cardiac surgery. Yuewei Medical has also won the titles of "Zhongguancun High-tech Enterprise" and "National High-tech Enterprise" in 2023.
Led by clinical experts and efficiently promoted by the combination of medicine and engineering, we will accelerate the entry into a new stage of medical device innovation and development
In the new stage of innovation and development of medical devices, the leading role of scientists and clinical experts is becoming more and more prominent, and independent innovation based on clinical needs and more efficient medical-engineering integration are effective ways to break through the "involution of the medical device industry". The team has accumulated more than 20 years of clinical and product development experience in the field of cardiac surgery and heart failure, and not only has rich experience in cardiac surgery diagnosis and treatment, is well versed in clinical pain points and patient needs, but also has a deep insight into the current situation and development trend of medical devices in the field of cardiovascular disease, especially coronary heart disease. Starting from the clinic, the team has been committed to creating products that not only meet the needs of clinical work, but also make up for the market gap in China's medical device related fieldsAt the same time, the product also conforms to the national medical policy orientation, which is conducive to accelerating the localization and innovation process of China's high-end medical devices, and helping doctors to reasonably control the cost of diagnosis and treatment while improving clinical efficacy.
The gradient product layout of "short and long combination" is the perfect balance between rapid commercialization and product innovation and research and development
Since its establishment, the company has always adhered to the commercialization ability and innovation ability as the core of the company's product development, and quickly laid out commercializable products in a relatively short period of time, so that the company has the potential to form a closed-loop business model as soon as possible, and at the same time take into account the innovation investment and long-term layout of fist products, and achieve the perfect balance of rapid commercialization and innovative research and development. At present, the company has a new generation of cardiac fixators, femoral arteriovenous cannulation, coronary angiography intelligent scoring system and other products are about to obtain registration certificates and enter the commercial sales stageA number of short-cycle rapid commercialization projects have also been laid out in the fields of animal experimentation and nursing, which has enhanced the company's self-hematopoietic ability. At the same time, the company actively increases the continuous investment in fist products, and constantly builds the company's innovation barriers, the coronary artery bypass quality control system has entered the experimental production stage, and the pulsatile left ventricular assist system has completed the design finalization, which will fill the clinical gap in China and accelerate the development of domestic substitution of high-end medical devices in cardiac surgery.
Accurately cut into the pain points of diagnosis and treatment of severe heart disease, independently developed pulsatile left ventricular assist devices, and created domestic innovative products
The pulsatile percutaneous left ventricular assist device (PVAD) independently developed by Yuewei is based on the clinical pain points in the diagnosis and treatment of intensive cardiac surgery, and at the same time meets the diagnosis and treatment needs of patients such as cardiogenic shock in cardiology scenarios. Yuewei PVAD products not only have the advantages of low cost, high safety and no need for DSA assistance of IABP products, but also make up for the lack of flow of traditional pulsating PVAD products such as IABP and Pulsecath.
Dr. Yu Wenyuan, co-founder and CEO of Yuewei MedicalSaid: In 2023, under the combined influence of medical anti-corruption and capital winter, it can be said that the difficulty of entrepreneurship is the common feeling of all start-ups. In order to "survive", the Yuewei team has always adhered to three core concepts: first, based on the team's more than 20 years of clinical work experience, excavate the "real needs" based on clinicians, and realize product innovation on this basis;Second, combined with the core team's decades of experience in device research and development in the cardiovascular field, we will integrate upstream and downstream resources at home and abroad to accelerate the development processBased on the decades of accumulation of marketing and sales teams in leading enterprises at home and abroad, combined with the new situation of medical anti-corruption, we will create a marketing model suitable for start-up teams.
Professor Yu Yang, Chief Scientist of Yuewei MedicalHe said that under the combined influence of factors such as centralized procurement, the epidemic, and the aging of the population, China's cardiac surgery has gradually shown two major trends, one is the gradual intensification of the contradiction between supply and demand between the hospital's diagnosis and treatment capacity and the patient's medical demand, and the other is the increasingly obvious trend of severe disease and complicated surgery of patients. Therefore, the future innovation of cardiac surgical instruments should always adhere to two core concepts, that is, how to base clinicians on how to reduce the difficulty of surgery, shorten the learning curve, and improve the efficiency of diagnosis and treatmentHow to improve the ability to deal with severe and complex patients based on the disease itself. The innovative cardiac surgery devices and pulsatile left ventricular assist systems developed by Yuewei are all product definitions in response to the above trends, and strive to create an integrated solution for patients with critical cardiac surgery.
Zhiwen Yang, founding partner of Nuoyu CapitalSince Johnson & Johnson's $16.6 billion acquisition of Impella (AbioMed), the left ventricular assist device (PVAD) has become a very hot track, and many companies have appeared in the market to develop products according to the Imella technology path. Among all PVAD players, Yuewei adopts an original design completely different from IMPELLA, which not only completely bypasses the problems of motor miniaturization, heating, and continuous working time that need to be solved by IMPELLA technology path, but also increases the pulsation function, making the work of PVAD more in line with the physiological state of the human body, fully reflecting the advantages of decades of clinical practice of senior cardiac surgeonsIn addition, Yuewei's left ventricular assist device is extremely competitive in cost, and is expected to bring a cost-effective and high-quality product to heart failure patients in the near future. Their layout of the cash flow product line is also very competitive, which reflects the team's deep understanding and insight into the industry, and we believe that Yuewei can continue to surprise doctors and patients.
Wang Jinpeng, director and vice president of Venucia HoldingsHe said that with the development of China's social economy, the changes in national lifestyles, and the acceleration of population aging and urbanization, the impact of cardiovascular disease risk factors on residents' health has become more and more significant, and the incidence of cardiovascular diseases continues to increase. However, at present, most of the cardiac surgical medical devices still rely on imports, and the industry urgently needs localized alternative products. Yuewei Medical is a high-tech company of medical devices in the whole process of cardiac surgery, and its core team members have many years of clinical experience in cardiac surgery, and are well versed in the pain points of clinical surgery, and can truly develop high-end innovative medical devices with clinical as the center. Yuewei Medical has a rich product line and high efficiency in the commercialization of R&D results, and we expect and believe that the R&D and commercialization of Yuewei Medical's products can effectively provide effective services for the improvement of cardiovascular diseases in China.
Dr. Zhao Kai, Investment Director of Zhongnan Venture CapitalHe said that the development level of cardiac surgery and cardiology in China is uneven, and there is a large gap between the development level and foreign countries, and the preoperative diagnosis, intraoperative support and postoperative quality control are facing problems such as lack of tools and high cost. The epidemic has greatly accelerated the improvement of cardiac surgery diagnosis and treatment capabilities in various parts of China, and the demand for surgeries and related equipment has accelerated in recent years, and the industry has seen an inflection point in its development. With more than 20 years of front-line clinical experience, Yuewei medical team is able to take into account the two-way clinical needs of Chinese patients and doctorsThe multi-stage and diversified product layout can make up for the shortcomings of domestic cardiac surgical instruments, break the problem of expensive and unstable import monopoly, enrich the clinically available tools, and at the same time, the cost advantage can reduce the pressure of cost control.
IDG CapitalSaid: We believe that the medical-industrial conversion that is more in line with clinical needs is the general trend of medical device development, especially for the cardiovascular industry that we are optimistic about. In this challenging environment, Yuewei can successfully complete various challenges such as product promotion, product development, team building and financing, which is the best embodiment of Yuewei's team management capabilities.
Zhang Fan, founder and managing partner of Yuanhui ChuangyiThrough the unremitting efforts of the team, especially the continuous investment in the research and development of surgical instruments in this field, a number of innovative and significant progress has been made in the research and development of a variety of products, including the left ventricular assist system LVAD, the vascular anastomosis quality control system (vascular flowmeter), a new generation of cardiac fixators, and high-end femoral arteriovenous cannulation, etc., some of which have entered the application process of medical device registration certificate. It is expected that the team will make persistent efforts to continue to polish and improve the product pipeline of high-end medical devices in the cardiovascular field, continuously introduce new product upgrades, and be able to be applied to clinical diagnosis and treatment and truly solve pain points, and make great progress in putting them on the market. We are pleased to increase our investment again, accompany the development of the company for a long time and help it continue to make new breakthroughs, solve practical problems with high technology, and benefit mankind.
Sun Zengping, partner of Qingke CapitalSaid: In the cold winter environment, the company quickly completed two rounds of financing within one year and exceeded the target, which fully confirmed the company's strength and demonstrated the confidence of investors in the company. The huge group of heart failure patients is in urgent need of localized innovative medical devices, and the Yuewei team is well versed in clinical needs, efficient medical-engineering integration, and rapid product progress, and Yuewei has a promising future.