The company will enter the market promotion stage and launch the endovascular interventional and implantable products to benefit more patients
Suzhou Innomed Medical Device Co., Ltd. (Chinese: 茵络医疗) recently received over CNY 100 million (USD 15 million) in a Series C+ financing round led by Innoval Capital.
Founded in 2013, Innomed is an innovative technology enterprise engaged in the development and manufacturing of interventional and implantable medical devices, and is committed to creating world-leading endovascular implantation interventional products.
Innomed mainly focus on three segments, including peripheral vascular, structural heart disease and high-value pathway consumables, which all belong to an over 10 billion-yuan blue ocean market.
The company’s products involve anti-fatigue lower extremity artery stent system, iliac vein stent, heart valve, guide wire, angiography guide wire, special hard guide wire for large blood vessels and interventional valves, venous stripping catheter and trigeminal nerve balloon.
Among them, Inno-Spring, an anti-fatigue stent system of Innomed, has obtained European Union CE certification. Inno-Xmart, a venous stent, has completed clinical follow-up. Angiography guide wire Inno-Hydrowire, guide wire Inno-Pathwire, super-hard guide wire Inno-Taviwire and Veno-Bright vein stripping catheter have been approved by National Medical Products Administration (NMPA), and Inno-Hydrowire and Inno-Pathwire have also obtained US FDA certification.
"We are optimistic about the track that Innomed is in, and also its competitive advantages. We hope that Innomed's products will be used in clinical practice faster and more widely for the benefit of more patients," said Innoval Capital.
The domestic competitors of Innomed include Sinomed (688108:SH), MicroPort (0853:HK), JW Medical, Princeton Medical and Antmed.