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HONG KONG, Nov 1, 2022 - (ACN Newswire) - Shanghai Easy-Flow ("Easy-Flow") recently completed its Angel financing round by raising tens of millions of CNY, led by Legend Capital. The fresh capital will be used for the R&D of Easy-Flow's peripheral intervention pipeline.
Data shows that there are a large number of patients with peripheral vascular disease, of which about 40 million patients with lower extremity arteries and about 100 million patients with varicose veins. Given the number of patients is increasing yearly, there is a huge clinical demand foreseeable, indicating that the peripheral vascular interventional device trajectory is likely to be the next market worth CNY10 billion.
Founded in November 2021, Easy-Flow is committed to efficiently creating a complete set of solutions in the field of peripheral interventional devices. The company develops products such as drug balloons, catheters, stents, and thrombus removal equipment for treating peripheral arteriovenous diseases. Since its establishment, Easy-Flow has been committed to creating peripheral interventional product packages, and developing Me-too, Me-better and Me-only products at the same time. It is expected that several products will be submitted for registration or initiated into clinical practice by 2030.
In addition to its independent R&D, Easy-Flow also simultaneously carries out external cooperation to further expand its product pipeline. Easy-Flow recently has reached a cooperation with Control Medical in the United States to introduce the FDA-approved Control(TM) mechanical thrombus removal system, which can be manually controlled by doctors to achieve efficient and controllable thrombus aspiration.
The founder of Easy-Flow, MIAO Zhenghua, who has more than 20 years of experience in the field of vascular intervention, said: "At present, the biggest challenge to many startups is how to rapidly commercialize their certified products. On the one hand, many founders have R&D backgrounds but lack experience in marketing their products quickly, and some companies only focus on one or two items, making them hard to cover marketing expenses with their revenue and profits. On the other hand, there are many product categories in the field of peripheral interventional devices. The treatment of disease often requires multiple products, and it is difficult to support the market with a single product. Therefore, the integrated package of peripheral interventional products is more suitable for commercial promotion."
Regarding this financing round, Joe ZHOU, managing director of Legend Capital, said: " Legend Capital has long focused on investment in medical devices. We have invested in a number of companies focusing on the unmet clinical needs of major diseases, especially chronic diseases. Cardiovascular and cerebrovascular-related fields have always been the focus of systematic analysis and research of the Legend Capital team. Easy-Flow has a talent team with extensive experience, led by the founder MIAO Zhenghua. We are very pleased to cooperate with Easy-Flow and participate in the development of the company. In the future, Legend Capital will give full play to the advantages of the healthcare portfolio ecosystem to support Easy-Flow's development and move forward hand in hand."
About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.
It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.
Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.
For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).
Topic: Press release summary
Source: Legend Capital
Sectors: BioTech, Healthcare & Pharm, PE, VC & Alternatives
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From the Asia Corporate News Network
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