Chinese High-Tech Medical Company NewMed Completes $10M Series B Financing

According to VCBeat, NewMed Medical Co., Ltd. ("NewMed"), a leading enterprise of the interventional artificial heart valve in China, has completed its series B financing of tens of millions of dollars from OrbiMed, with HaoYue Capital as the exclusive financial consultant. Proceeds of this round will be used to promote the clinical trials and registration of the first interventional valve for mitral valve replacement in China.

Previously, NewMed has obtained investment from well-known venture capital firms including BioTrack Capital, Lyzz Capital, and others.

Founded in March 2015, NewMed is a high-tech medical enterprise which is located in Shanghai Medical valley PLUS, Zhoupu Town, Pudong District, Shanghai. It dedicates to the research, development, manufacturing, and marketing of advanced interventional artificial heart valve systems. 

NewMed is willing to climb the medical peak and write a new chapter in the interventional treatment of cardiac valve together with excellent experts in the field of cardiovascular medicine in China. The group has owned and applied many patents and applications until now. Among them, more than 50% of patents will be internationally protected through PCT.

In May 2019, the first implant of the interventional mitral valve "Mi-thos" developed by NewMed was successfully completed in Zhongshan Hospital affiliated to Fudan University. So far, NewMed has started clinical studies in a number of hospitals and successfully completed multiple implants of "Mi-thos". "Mi-thos" is Asia's first TMVR (Transcatheter Mitral Valve Replacement) product, with comparable quality in global.

OrbiMed is a healthcare-dedicated investment firm, with approximately $5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies: from private start-ups to large multinational companies. It manages the Caduceus Private Investments series of venture capital funds and a family of public equity investment funds.

Established in 2013, HaoYue Capital is a preeminent healthcare investment bank. The company is committed to delivering innovative solutions to its clients in private placement, mergers & acquisitions, and strategic and financial advisory. With an exclusive focus on biopharmaceutical, innovative medical device, IVD & precision medicine, healthcare service, intelligent medical, HaoYue Capital have a 360-degree perspective across the healthcare spectrum.