DCP Completes Investment in Valgen Medtech
May 07, 2021
(Beijing, Hong Kong, May 6th 2021) DCP announced the completion of a B round investment of multi-hundred million dollars in Hangzhou Valgen Medtech Co., Ltd. ("Valgen" or the "Company"), a leading innovator in the treatment of structural heart disease. The Company was incubated by DiNova Medtech ("DiNova"). The proceeds will be used to accelerate research and development in the treatment of mitral and tricuspid valve diseases. This round of investment was led by DCP.
DiNova is a leading incubation and investment group in the innovative life science space. It discovers, invests and accelerates the development of healthcare companies with disruptive technologies to find effective solutions to treat major life-threatening diseases.
Founded in 2015, Valgen is a leading innovator in the treatment of mitral and tricuspid valve diseases. Mitral regurgitation is currently the most common heart valve disease, with more than 10 million moderate to severe patients in China. There are a few million patients with severe mitral regurgitation that require instant treatment, of whom about a half are surgery inoperable due to age, poor heart function, and other complications. Recent rapid advances in the transcatheter mitral valve space has been driven by continuous innovations in devices and training within the cardiologist community.
As a pioneer in the field, Valgen is dedicated to robust R&D and commercialization of a comprehensive product offering to serve the mitral and tricuspid valve disease patient population. Valgen's key product today is DragonFly?, the only transcatheter mitral valve repair product developed by China company, with potential to compete with other innovative products globally.
Mr. Michael Zhao, Chairman of Valgen, said:" Leveraging China's rich engineering resources, Valgen developed the first transapical and transcatheter mitral valve products in China, and established its pioneering position in the global structural heart space. The DCP team has a strong 28-year investment track record and has nurtured numerous leaders across many industries in China and we are thrilled to work with them. Following the investment, Valgen will continue to accelerate its R&D and commercialization efforts for our minimally invasive interventional medical devices in the mitral and tricuspid valve area, to provide doctors and patients with innovative treatment solutions."
Mr. David Liu, Executive Chairman of DCP, said:" DiNova is the most successful platform for disruptive medical technology in China. Since its establishment, DiNova has successfully incubated numerous leading medical device companies in the interventional cardiology space. Valgen's great achievement in the most difficult field of structural heart disease once again showcases DiNova management team's unparalleled vision. We are very excited to work with the management team as a value added partner to contribute to their future success."
Mr. Wayne Wang, Managing Director of DCP said:" Valgen is another milestone investment for us in the interventional structural heart area since our investment in Venus Medtech. We have known the management team for many years, and we admire the global vision and down-to-earth execution capability of the Valgen team. We hope that our partnership with Valgen can together propel the development of mitral and tricuspid technology, and to benefit millions of patients with heart valve disease in China."