Hengsheng Medical Raises ￥300M in Series A

(VCBeat) Jan 7, 2021 – Recently, Hengsheng Medical announced the completion of its ￥300 million Series A round with participation from CMB International and CITIC Medical & Health. Xuyi Capital serves as the financial adviser of this round. 

The corpus will be used for scale-up production of the drug-eluting stents, the registration of self-perfusion drug-coated balloons, and the development and clinical trials of the second generation of 99μm self-perfusion fully biodegradable stents.

Hengsheng Medical is a high-end medical device company committed to innovation, focusing on the field of interventional cardiology. Headquartered in the core area of Zhongguancun Industrial Park, Shunyi District, Beijing, the group has also set up R&D centers in Chengdu, China and Boston, USA. From interventional accessories to balloon dilation catheter, from the NOYA stent to self-developed drug balloons, Hengsheng Medical has always been committed to providing one-stop service for PCI.

The self-perfusion drug-coated balloon is one of the core products independently developed by Hengyi Medical, a subsidiary of Hengsheng Medical. Based on the proprietary technology of self perfusion, the balloon’s inflation won’t block the blood flow, which enables 15% of the blood flow through. It can not only make patients comfortable but also let the balloon attached to the blood vessel walls much longer, greatly improving the safety of the patient. In comparison, the balloon inflation time of common drug-coated balloons is usually less than 60 seconds, which leads to a shorter time for drug delivery and a large amount of drug loss.

In addition, the self-perfusion drug-coated balloon is coated with paclitaxel, which does not rely on any dispersant and greatly improves the passability of the drug balloon. At present, the clinical trials have been completed and this product has entered the validation stage, which is expected to be launched this year.

The 99μm self-perfusion fully biodegradable stents developed by Hengsheng Medical is the world's first application of self-perfusion technology to biodegradable drug stents. The use of PLLA stents with a thickness of 99μm allows long-term dilation, increasing stent adhesion, and reducing the risk of thrombosis. Currently, Hengsheng Medical has completed the development of the product and will start the first-in-man clinical studies before the end of this year.

CMB International is an investment banking firm that offers comprehensive professional services and financial advisory services. It provides mergers and acquisitions, initial public offering, equity underwriting, company restructuring, project financing, and business consulting services.

As a wholly-owned subsidiary of CITIC Group, CITIC Medical & Health provides health care services. The business mainly involves the characteristic specialties of assisted reproduction and medical cosmetology, as well as comprehensive medical services, health management, medical distribution, etc.