According to PEdaily.cn, Beijing Hengsheng Medical Group ("HS Medical"), a manufacturer of coronary medical devices, has completed its ￥40 million (US$5.83 million) series Pre-A round of financing, with participation from Changzhou West Taihu Lake Health Investment Company, the industry investment fund under the management of Changzhou West Taihu Lake Government. Proceeds of this funding will be used for product production, research and development, and clinical trials.
HS Medical focuses on production, R&D, sales and investment in the field of interventional medicine. At present, the investment of high-tech medical products factories and supporting facilities projects by the company is up to 350 million yuan, which are located in the Shunyi Development Zone in Beijing and cover an area of about 25 acres.
At present, HS Medical has a complete set of production lines for drug-eluting stents, balloon catheters and accessories. The company has been certified as a national high-tech enterprise with more than 30 patents (including applications), 4 European CE certificates and 9 NMPA (National Medical Products Administration) registration certificates, with a total R&D investment of more than 500 million yuan.
HS Medical has developed various balloon dilatation catheters, especially drug-coated balloon dilatation catheters. The drug-eluting balloon, which occupies an important position in the medical products of HS Medical, using the proprietary technology of "self-perfusion", has entered the late stage of its clinical trial, and is expected to complete the clinical trial and apply for registration in the first half of 2020, and be ready for market sale in 2021.
Nowadays, the imported products in the pharmaceutical balloon market occupy a large share in China, with a low level of localization and a large space for import substitution. That's to say, HS Medical still has a number of opportunities in the market.
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