ScienTech Medical Technology (Shanghai) Co., Ltd. (hereinafter referred to as "ScienTech Medical", stock code: 2291.HK) launched its public offering in Hong Kong on October 27, with CICC as its sponsor.
ScienTech Medical was spun off by Lepu Medical (300003.SZ). Since its establishment, it has been committed to the research and development, production and commercialization of interventional medical devices for structural heart disease, and has accumulated more than 20 years of experience. Other institutional shareholders include Vivo Capital, Sequoia Capital, CDH Capital, Shanghai Biomedical, etc.
ScienTech Medical has a comprehensive product line layout in the field of structural heart disease in China, covering all structural heart disease application products (congenital heart, cardiac stroke, valve, heart failure, etc.), and its product line includes 20 occuluders models that have been launched, and 9 occluder products under development, mainly including a variety of congenital heart disease occluder products; and patent foramen ovale occluder products for the prevention of cardiac stroke and related symptoms and left Atrial appendage occluder products; and 21 major heart valve products under development, mainly including aortic valve and mitral valve products.
Based on the accumulation in the cardiovascular industry, ScienTech Medical has established a number of core technology platforms to support product technology leadership and continuous iteration. The intellectual property owned by the company now includes 232 registered patents and 51 pending patent applications in China, as well as 14 patents pending in the United States and the European Union.
The company has commercialized 14 and 11 products in China and overseas respectively; as of June 30, 2022, the company has established a nationwide network of 288 dealers covering 878 hospitals. The company has 9 products with valid CE mark, and has rich experience in EU product registration and launch.
According to the Frost & Sullivan Report, ScienTech Medical is the largest manufacturer of congenital heart disease occluder products and related surgical ancillary products in China, with a market share of 38.0% in terms of revenue recognized from sales in China in 2021.
Its congenital heart occluder products mainly include MemoPart atrial defect occluder I and II generation, MemoPart ventricular defect occluder I and II generation, MemoPart patent ductus arteriosus I and II generation occluder, MemoCarna atrial defect occluder Occluder III (Oxide Film), MemoCarna Ventricular Defect Occluder III (Oxide Film), MemoCarna Patent Ductus Arterial Occluder III (Oxide Film), MemoSorb Ventricular Defect Occluder IV. Among them, the MemoPart Ventricular Deficit Occluder I is the first domestic ventricular deficient occluder, and the MemoSorb Ventricular Deficient Occluder IV is the world's first fully degradable occluder developed in China.
In the pipeline of occluders under development, patent foramen ovale occluder products and MemoLefort left atrial appendage occluder I-generation have great commercial prospects for cardiogenic stroke and other related symptoms. Biodegradable patent foramen ovale occluder will become one of the first batch of biodegradable patent foramen ovale occluder products registered in China, and is now ready to register with the State Food and Drug Administration; left atrial appendage occluder I-generation Launched in June 2020, it has shown a 100% surgical success rate in clinical trials, a 97.6% left atrial appendage closure rate 12 months after surgery, and no ischemic stroke after surgery. The company is also currently upgrading its products with biodegradable technology.
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