Hongyu Medical Closes on ￥30M Series A Round, Providing Interventional Treatment of Heart Disease in Pet Dogs

According to lieyunwang.com, Zhejiang Hongyu Medical Technology Co., Ltd. ("Hongyu Medical") has announced the completion of a ￥30 million Series A financing, led by CITICPE with participation from LYZZ Capital. Proceeds of this fund will be used for the global market business of Hongyu Medical’s intervention equipment for mitral valve disease in dogs.

As the first research and development company specializing in the interventional treatment of heart disease in pet dogs, Hongyu Medical is committed to the interventional treatments and fills the gap of cardiac treatment equipment in pet dogs. Currently, it is cooperating with many top veterinary hospitals in the world, and its products have entered the clinical stage in more than 30 developed countries, such as the United States, Britain, France, Germany and Japan, which are expected to achieve scale sales in the second half of 2020.

Established in July 2019, Hongyu Medical has built the first specialized heart surgery center in China -- Shanghai-based Xinyu Pet Hospital, focusing on heart disease diagnosis and treatment and minimally invasive interventional surgery for dogs. In addition, the center will provide cardiac interventional therapy training for global medical staff. It aims to become a global center of minimally invasive interventional therapy for the mitral valve in Asia and the world.

With high safety, small trauma, rapid recovery, and no need for cardiac arrest and cardiopulmonary bypass, the V-CLAMP surgery of Hongyu Medical offers a new solution for the treatment of mitral regurgitation in pet dogs by performing a 2-3cm incision in the anterior heart area and delivering the instrument to the heart through the puncture to complete mitral valve repair.

Founded in 2008, CITICPE is a leading asset management firm that manages multiple asset classes, including private equity, mezzanine and public market funds and other products, for a group of over 200 domestic and international investors. The company concentrates on buy-out scenarios and focus on five key sectors, including Technology & Internet, Industry & Energy, Finance & Business Services, Consumer & Leisure, and Healthcare.

LYZZ Capital is a leading global healthcare-dedicated VC/PE firm. We currently are actively investing out of USD and RMB funds totaling over USD$360 million. Its team's biotech investment experience extends back over 15 years.