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.