HANGZHOU, China, March 25, 2016 /PRNewswire/ -- The Cardiac Valve Research Institute ("the Institute") - a joint project between Venus Medtech (Hangzhou) Inc. ("Venus Medtech") and the Second Affiliated Hospital of Zhejiang University School of Medicine ("SAHZU") - has been officially launched in Wanlong Technological Park located in the Binjiang district of Hangzhou, the capital of Zhejiang province. The Institute is the first research entity that Venus Medtech established along with a hospital and, it will focus on minimally invasive treatment for heart diseases.
As a leading transcatheter cardiac valve developer, Venus Medtech finished first place in the Third National Innovation and Entrepreneurship Competition for its respective sector and successfully completed China's "Twelfth Five-Year Plan for Science & Technology Support" project, administered by the Ministry of Science and Technology. Venus Medtech is also among the first to be admitted to the "Innovative Medical Devices Special Approval Process", designated by the China Food and Drug Administration.
The Cardiac Valve Research Institute is among "Provincial Enterprise Institutes" for Zhejiang, which will help to promote the clinical application of advanced heart valves and structural heart disease treatment technologies.
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Venus Medtech is proud of the fact that its technological progress has drawn support from various institutional investors. Following the investments from Qiming Venture Partners, Sequoia Capital China, and Dinova Venture Capital, leading global investment banking firm Goldman Sachs has recently signed an investment agreement with Venus Medtech. The investment from Goldman Sachs will support Venus Medtech's R&D as well as commercialization of the company's cardiac valve products.
Deputy Secretary-General of Zhejiang province Meng Gang, Zhejiang Province Science and Technology Department Deputy Director General Yue Chong, and representatives from both the Binjiang district and Hangzhou municipal governments, as well as industry representatives companies attended the launch ceremony for the Institute and the signing ceremony with Goldman Sachs. Professor Wang Jian'an - President of SAHZU - was appointed as the Chairman of The Cardiac Valve Research Institute.
Venus Medtech and SAHZU Leading the R&D Effort of a Minimally Invasive Solution to Heart Diseases
As the first Chairman of The Cardiac Valve Institute, Professor Wang Jian'an said that transcatheter aortic valve replacement (TAVR/TAVI) is a minimally invasive and low-risk procedure for patients with aortic valve disease. The procedure brings hope to patients with severe aortic stenosis, especially for patients who are not suited for surgical treatment.
