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SinoMed, a Medical Device Company, Stages $50 Million IPO on the Shanghai STAR Exchange
November 4, 2019

Published by ChinaBio Today

Sino Medical Sciences (SHA: 688108) completed an IPO on the Shanghai STAR Exchange last week, raising $50 million at a market capitalization of $412 million. The company makes high-end novel interventional medical devices for cardiovascular needs. Its products include drug eluting stents, balloon catheters, coronary stents and transcatheter mitral valve replacement kits. SinoMed's stock price rose as much as 217% in its first trading day. Founded in 2007, the company's headquarters and other operations, including R&D and production, are located in Tianjin.

SinoMed's R&D and production facility has over 6000 square meters of floor space. That includes a cleanroom of 2000 square meters equipped with R&D, production and testing equipment. The company has more than 400 employees. Its R&D division discovers new fields, which have broadened the company's product portfolio continuously discovering new fields, which has led to a fast broadening of our product portfolio.

In 2018, SinoMed put a company structure in place that facilitates its subsidiaries in Hong Kong, the US, Japan and Europe. It also completed the Basis study, a China test that is the first clinical study in the world to compare intracranial balloon dilation with medication. The company has received long-term support from Decheng Capital. Decheng's Managing Director, Min Cui, PhD, sits on SinoMed's board.

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