Valgen Medtech and Venus Medtech reached a consensus on signing a letter of intent for exclusive cooperation on strategic marketing to speed up the promotion of techniques for diagnosis and treatment of valvular heart disease (VHD) in China


November 22, 2023 -- Venus MedTech (Hangzhou) Inc. (Venus Medtech) and Hangzhou Valgen Medtech Co., Ltd. (Valgen Medtech) reached a consensus on signing a letter of intent for exclusive cooperation on strategic marketing for the Valgen Medtech DragonFly™ Transcatheter Mitral Valve Repair System (DF).

The parties will launch an in-depth commercial cooperation after marketing approval by the DF. Valgen Medtech will take full advantage of Venus Medtech's marketing network, built over the years and covering nearly 500 tertiary hospitals, with ideal market accession channels, and robust clinical technology training systems, and other excellent foundations for the exclusive commercial cooperation. This indicates that Venus Medtech will, after its successful promotion of the application of the TAVR surgical method in China, promote the spread of the transcatheter mitral valve edge-to-edge repair technique featuring more advanced clinical training requirements and more complicated operations in China. The parties will form a partnership and they firmly believe this cooperation will promote the business development of valvular heart disease (VHD) diagnosis and treatment in China and lay down a solid foundation for the construction of an integrated platform for the diagnosis and treatment of structural heart disease in China in the future.

A retrospective development course of TAVR in China: The first implantation of TAVR in China was done with an imported product of a foreign brand in 2010. The first Chinese TAVR was granted marketing approval in 2017. The number of commercial TAVR products implanted in 2022 was less than 8,000 and the cumulative number of commercial TAVR products implanted so far is less than 20,000. The major bottlenecks we are facing that restrict the development of TAVR include: The lack of an adequate number of surgeons who have mastered this advanced technique, the absence of effective knowledge the disease among surgeons and patients, the shortage of means for improving patients' ability to pay for the treatment (e.g., medical insurance, etc.), and the complicated and troublesome market accession process which prevents patients from benefiting from this new technique in the near future. To take the lead in the field of TAVR in China by leading innovative technology, we must abandon the zero-sum game mentality which is prevalent in conventional substitution with imports. Venus Medtech, as a leading Chinese company in the field of heart valve minimally-invasive intervention, has been focusing more on market development and expansion. In light of the intention of this strategic marketing cooperation, the parties will, in line with their shared goals and expectations, form a partnership to solve the challenges confronting the promotion and spread of the innovative technique in order to popularize this valvular heart disease (VHD) intervention technique in China.

So far, Venus Medtech has completed more than 15,000 implantations. Through this cooperation, Valgen Medtech will take advantage of resources accumulated and draw on the marketing experience gained by Venus Medtech in TAVR promotion for the exploration of more innovative value-added services to further speed up the expansion of the mitral valve device market and take the lead in the field of mitral valve treatment to bring benefits to more and more Chinese patients.


Founded in 2015, Hangzhou Valgen Medtech Co., Ltd., is headquartered in Hangzhou High-Tech Zone (Binjiang) Hangzhou and established an R&D base in Shenzhen. The company is specializing in the development of interventional treatment products and technologies for mitral valve and tricuspid valve diseases. It has been accredited as a national and provincial (Zhejiang) technology-oriented SME, a high and new technology R&D center, and engineering research center in Hangzhou. The company won second price in 2019 and first prize for vascular medical devices in 2023 in the China Medical Devices Design & Entrepreneurship Competition. Valgen Medtech has applied for more than 490 patents globally.

The company developed the DragonFly™ Transcatheter Mitral Valve Repair System in house with the hope of becoming the first transfemoral transcatheter edge-to-edge mitral valve repair device in China. The development received funding from the National Key R&D Program for the "14th Five-Year Plan" in 2022.

As a believer in the philosophy of "technology innovation being the driving force behind development", Valgen Medtech has been abiding by the development strategy of "based in China, oriented towards the World" in its efforts to accelerate the development and commercial application of precision interventional diagnosis and treatment technology and provide innovative diagnosis and treatment solutions for valve repair to surgeons and patients.