Shanghai
Hanyu, a cardiovascular medical device company, completed a $72 million
Series D round financing. The round was co-led by Highlight Capital,
CITIC Private Equity Funds Management, and Yingke PE. Founded in 2016,
Hanyu's core product is Valve Clamp, a minimally invasive mitral valve
interventional device used to treat mitral valve regurgitation diseases.
Valve Clamp is the first China-developed mitral valve device to start
clinical trials. Hanyu expects Valve Clamp will be the second mitral
valve repair system marketed in China after Abbott’s MitraClip.
Also
participating in the round were ALAN AMC, Everest Capital, Mefund
Capital, Orient Securities Capital Investment, TF Capital and Chunfeng
Venture Capital.
Hanyu
is located in Jindi Weixin Science and Technology Park, Minhang
District, Shanghai, with a laboratory and office that have a total area
of more than 4,000 square meters. It has raised about $40 million in its
previous three rounds. Its $14 million C Round was led by Yingke PE.
Proceeds
of the latest financing will be used to promote the launch of Valve
Clamp along with continuing R&D of new products.
In China, the current method for treating moderate to severe mitral regurgitation is surgical thoracotomy, which has the disadvantages of trauma, high risk, severe pain and slow recovery. A large number of patients remain untreated because of the high risk of surgery. Abbott Labs' MitraClip is the only device approved for the condition globally.