VMS Led SyMap Medical Successfully Completed Series E Financing
We are pleased to announce that VMS has completed its series E investment in SyMap Medical (Suzhou) Co. Ltd. (“SyMap”or the “Company”). The series E funding round raised close to US$100mn and was co-led by VMS and Primavera Capital. Earlier round investors such as Sequoia and Simiao Equity Investment also participated. CEC Capital acted as the sole financial advisor. The proceeds will mainly be used to accelerate the global clinical registration trials of SyMap’s multiple innovative medical device products, develop a new generation of RDN products, and acquire overseas innovative technologies and product lines.
SyMap is an innovative medical device company rooted in China with a global perspective, founded by a world-renowned cardiovascular expert Professor Wang Jie. Professor Wang is also the Vice Director of Jiangsu Provincial People’s Hospital and teaches at the Department of Cardiology at the Columbia University School of Medicine.
The Company is dedicated to addressing major unsolved clinical needs. Its renal nerve mapping/selective ablation system is the only product globally that can accurately target the distribution of renal sympathetic nerves, which can avoid drawbacks caused by blind ablation. Its patent-protected bronchial radiofrequency ablation system is more suitable for the pulmonary anatomical characteristics of Chinese people, and it can increase the fluency of surgical operations through a more effective human-machine response. SyMap is at the same time conducting a series of independent R&D and M&A activities with a number of disruptive innovative devices in the R&D stage, getting imminently ready to go through global clinical registration trials. The Company has formed a complete product pipeline and is carrying out two clinical registration trials, namely the SMART Study for renal nerve mapping/selective ablation for the treatment of hypertension and the BATA Study for bronchial radiofrequency ablation for the treatment of asthma. Both products have successively passed China National Medical Products Administration’s review for innovative medical devices and entered the “Green Channel” of the special review process. SyMap will create a unique and innovative active technology platform focusing on chronic diseases such as hypertension, asthma and heart failure, with an aspiration to become a global leader in device-based treatment of chronic diseases.
Mr. Andrew Ng, Managing Director & Head of Healthcare of VMS Group’s Private Equity Division, commented: “SyMap’s product pipeline addresses unmet clinical needs in critical diseases such as cardiovascular and respiratory diseases. Through years of technological accumulation and its solid global intellectual property rights, the Company’s product technology and clinical progress are both at the forefront of the industry. We are very honored to jointly lead this round of financing. Under the leadership of the founding team and the support of global experts, we look forward to seeing more product innovation and clinical benefits to patients. We firmly believe that the Company will continue to create value for the society and become a global leader in innovative device-based therapy.”
At VMS, we build lasting relationships with trusted partners seeking to fulfil unmet medical needs and push boundaries in healthcare innovation. Our portfolio companies aim to make world-class health services affordable and accessible to patients globally through technological and manufacturing innovation for the improvement of human health.
Professor Wang Jie is a world-renowned cardiovascular expert. He is also the Vice Director of Jiangsu Provincial People’s Hospital and teaches at the Department of Cardiology at the Columbia University School of Medicine.
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