Primavera Capital Co-Leads Investment in Jenscare Scientific
Primavera Capital Group (“Primavera”) and GL Ventures, the venture capital unit of Hillhouse Capital, have jointly led a new round for Ningbo-based cardiovascular instruments supplier Jenscare Scientific. Primavera, also a leading investor in the Series B funding round for Jenscare Scientific, is committed to supporting the company’s rapid growth.
Going forward, Jenscare will invest the proceeds of expedite developments related to clinical trials, pipeline candidate, R&D and manufacturing capacity enhancement.
Founded in 2011, Jenscare Scientific is a high-tech medical equipment company dedicated to innovative solutions for treatment of patients with structural heart diseases. The company is currently offering Transcatheter Tricuspid Valve Replacement (“TTVR”), Transcatheter Mitral Valve Replacement (“TMVR”), Transcatheter Aortic Valve Replacement (“TAVR”), and heart failure products. Among such products, Jenscare Scientific’s proprietary transcatheter tricuspid valve replacement system LuX-Valve is expected to complete all clinical trial registration in the near future, which will be the first interventional prosthetic valve approved for the treatment of tricuspid regurgitation globally.
Fred Hu, the Founder and Chairman of Primavera Capital Group, said, “As China is facing an accelerated aging population, cardiovascular diseases are one of the major causes of death across the country and also represent one of the most significant unmet medical needs in China.”
“Minimally invasive interventional technology for structural heart disease has great development potential and is a promising area in the cardiovascular treatment field. As the leading full-platform valve interventional therapy company in China, Jenscare Scientific boasts a number of pioneering technologies internationally and sees good clinical progress,” said Zheng Jiaqi, Managing Director of Primavera Capital Group. “Primavera has strong faith in Jenscare Scientific’s prospects and will continue to work closely with healthcare companies with outstanding innovation capabilities and significant clinical value.”
Primavera believes that Jenscare Scientific’s globally leading R&D capability in technology and its commitment to technical originality in China will allow the firm to continue to spearhead the development of the industry and provide more advanced, innovative solutions in structural heart disease for patients in China and across the world. As a partner of Jenscare Scientific, Primavera will be devoted to helping the company pursue rapid growth and seize opportunities, with a view to jointly contributing to the development of China’s innovative medical device industry. “