Venus Medtech has secured equity investment from DCP Capital to speed up heart valve technology development and international commercialization.
Venus Medtech will use the investment to speed up the upgrading and internationalization of existing valve products, support the company to quickly enter into the clinical research stage for its new mitral/tricuspid valve disease treatment technology
DCP executive chairman David Liu said: “DCP is delighted to have the opportunity to invest into Venus Medtech.
“We are extremely impressed with the company’s outstanding management team, strong technological capabilities and deep industry knowledge. We look forward to fully utilizing our network and expertise to help Venus Medtech to grow into the next phase of development.”
Presently in China, there is an increasing risk of aging population with senile calcific aortic valve disease and is soon expected to become one of the main causes of valvular disease in the country.
At present, surgical procedures for aortic valve replacement (SAVR) are used widely, but there is a high risk of surgical trauma and postoperative recovery is also slow. Most of the older patients are unable to tolerate such surgery.
As per some indications, at least 500,000 patients in China who have TAVR indications and majority of them are not admitted to hospital for treatment.
In addition to aortic valve disease, mitral and tricuspid valve diseases are also common valvular heart diseases.
According to an estimation, patients with severe Mitral Regurgitation (MR) and Tricuspid Regurgitation (TR) number over 10 million in China but the rate of surgical treatment is less than 2%. The therapeutic market in this area is particularly promising.
Venus Medtech claims to have been conducting research, development and commercialization of medical devices for heart valve disease for several years now. It has more than 300 patents of valve technology worldwide.
The company’s first generation TAVR product, VenusA-Valve percutaneous interventional aortic valve system is claimed to have been the first interventional prosthetic valve product to have received approval from China Food and Drug Administration, last April.
Venus Medtech co-founder and CEO Eric Zi said: “We are extremely excited to have DCP as our long-term value-added partner. This cooperation will benefit from the DCP team’s 25 years of successful investment experience in China led by David Liu.
“In particular, we hope to leverage DCP’s significant investment / acquisition experience, and its portfolio management capabilities to accelerate Venus Medtech’s expansion.”