Beixin Life plans to go public in Hong Kong to build a high-performance active interventional medical device innovation platform

Beixin Life, a medical device company focusing on cardiovascular interventional diagnostics, is launching a Hong Kong IPO.

　　On August 4, the CSRC International Department disclosed that Shenzhen Beixin Life Science and Technology Co., Ltd. (hereinafter referred to as "Beixin Life") submitted the materials for the "Overseas Initial Public Offering of Shares (including ordinary shares, preferred shares and other types of stocks and stock-derived forms) approval." Once accepted, it means that Beixin Life will soon submit a prospectus to the Hong Kong Stock Exchange.

　　Beixin Life was founded in December 2015 and is headquartered in Shenzhen. As a national high-tech enterprise, Beixin Life is committed to building a high-performance active interventional medical device technology innovation platform, developing into a leading enterprise in the field, and growing into a world-class medical technology enterprise with lasting influence.

　　Tianyancha shows that Beixin Life has had 6 rounds of financing, with investments including Sequoia Capital,TigermedQiming Venture Partners, Taiyu Investment, Guotou Chuanghe, Songhe Capital, Hetang Venture Capital, Yifeng Capital, Xiarba Investment, Xiarba Investment, Decheng Capital, and Silicon-based Bionic, etc. In April and December last year, Beixin Life completed its B+ round and C round financing.

　　In the latest round of financing on May 26 this year, Xiamen Guoxing Investment was the sole investor, but the amount was not disclosed. After completing the financing, Beixin Life completed its shareholding system reform in June this year, and its registered capital increased by 180 million yuan on July 30. In terms of equity structure, CEO Song Liang is a majorshareholderof Beixin Life, directly holding 18.68% of the shares.

　　It is understood that Beixin Life has provided a technically leading overall solution for the precise interventional diagnosis and treatment of coronary heart disease, and is expanding into innovative technological directions in the peripheral vascular field and cardiac rhythm field. Fractional flow reserve (FFR) obtained through direct measurement of coronary intervention is the "gold standard" in clinical diagnosis of whether coronary stenosis causes myocardial ischemia and whether stents need to be implanted.

　　Beixin Life's independently developed and produced TruePhysio pressure microcatheter and VivoCardio fractional flow reserve measurement equipment have internationally leading technical performance, and are also the first directly measured FFR products independently developed and produced in China. They have obtained Class III medical device registration certificates from the National Medical Products Administration (NMPA) of China and Class III medical device certification from the EU CE.

　　Intravascular ultrasound (IVUS) is an indispensable tool for performing precise interventional treatment of complex coronary heart disease. Beixin Life's launched high-definition, high-speed intravascular ultrasound diagnostic system has the industry's leading imaging resolution and imaging speed, as well as leading product performance such as intelligent image registration and segmentation. It can provide doctors with high-quality intravascular images more quickly and conveniently, and is expected to achieve precise coronary intervention while saving surgery time, reducing radiation dose, and reducing the risk of patient ischemia.

　　Beixin Life is also developing a one-stop solution product that can simultaneously provide intravascular imaging and functional precision interventional diagnosis and treatment of coronary heart disease. In addition, it also provides leading innovative technical solutions for interventional treatment of complex coronary and peripheral lesions such as chronic total occlusion (CTO) and severe calcification.

　　Public information shows that Song Liang, the founder, chairman and CEO of Beixin Life Science and Technology, is an Americancitizenwith a doctorate in biomedical engineering from Washington University in St. Louis (WUSTL), a recipient of the National Excellent Young Scientists Fundandthe Shenzhen Youth Science and Technology Award, and one of the first batch of "outstanding young talents in science and technology innovation" in Guangdong Province. He has presided over more than 10 research projects, including the national major scientific research instrument development and the Ministry of Science and Technology's international cooperation.

　　To date, Beixin Life has cumulatively applied for more than 120 patents. While completing the research and development of existing products, it has also established the ability of micro-nano device material design and precision processing around high-frequency ultrasonic transducers and MEMS packaging; it has formed a precision interventional catheter technology and process platform around ultra-fine weaving, multi-layer polymer composite polymerization material molding and processing; and it has established a high-performance medical electronic software and hardware technology development platform around high-speed medical electronics design and intelligent signal and image processing. These lay a solid foundation for its further expansion into other innovative active interventional medical technology fields.

　　Cao Yubo, managing director of Sequoia Capital China Fund, said that pressure microcatheter/guidewire FFR measurement has been verified through long-term application, and is the gold standard for determining the necessity of PCI surgery. This test can screen appropriate surgical patients, which is of great significance to patients, doctors and payers. In the future, Sequoia Capital will continue to support Beixin Life's growth and launch a series of innovative products that benefit patients in the vascular intervention field.

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