IDG Backed Weimu Medical Raises CNY Tens of Millions Series Pre-A Funding Round

Healthcare, Financials Author: Jizhen Huang May 19, 2022 07:13 PM (GMT+8)

Founded in 2020, Shanghai Weimu Medical has built a high-end interventional medical device platform that is based on innovative materials in the fields of tumor intervention and pan-vascular intervention. The company has developed a number of products such as microspheres hydrogels and tissue adhesives.

Biomedical drop operation

Shanghai Weimu Medical (Chinese: 玮沐医疗) announced the completion of tens of millions of CNY Pre-A financing round, exclusively invested by IDG Capital. The proceeds will be used to advance current clinical trials, develop new pipelines, and expand the R&D team.

In March this year, polyvinyl alcohol embolization microspheres, the first product independently developed by Weimu Medical, completed the first patient enrollment in the clinical trial of d-TACE for the treatment of primary liver cancer in Hunan Provincial People's Hospital. In the current guidelines for the diagnosis and treatment of primary liver cancer, d-TACE is recommended in the treatment of patients with stages Ib to IIIb.

Recently, another core product of Weimu Medical, varicose vein sealing glue, completed the first patient enrollment for vascular surgery for severe varicose veins in Zhejiang Provincial People's Hospital.   

The founder, Dr. Xie Dang, with nearly 15 years of experience in the field of polymer materials, served in well-known domestic and foreign leading companies such as 3M, Medtronic, and Hengrui Pharma.

Dr. Xie Dang claimed that the company was committed to building an influential interventional device platform based on innovative biomedical materials.

“In the future, we expect to develop more high-quality products to extend the treatment window for patients and improve clinical outcomes.” He added.

Weimu Medical’s main competitors include Heartcare (Chinese: 心玮医疗, SH:688016/HKG:6609), Acotec (Chinese: 先瑞达, HKG:6669), and Lifetech (Chinese:先健科技 HKG: 1302).