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Zi Zhenjun: Insisting on Disruptive Innovation and Striving to Be the World Leader in Medical Equipment Technology

Date:2016-11-18 21:10

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Venus Medtech is a professional medical equipment enterprise committed to minimally invasive treatment, research and development of heart valve disease. It has occupied the first place at home in the field of heart valve disease treatment and won biomedical group championship in The Third National Innovation and Entrepreneurship competition. The Enterprise owns Two “World First”: The world's first preinstalled interventional valve system and the first self-expanding pulmonary interventional valve system. It has 4 “China First” as well: The first to start and complete the Chinese CFDA registered clinical research, the first cardiovascular equipment to obtain support from the CFDA innovative channel; the first Chinese heart valve equipment to enter the European to finish the human clinical implantation of the heart valve device, and also the first enterprise allowed to set up key research institute of heart valve. Venus Medtech has held 145 domestic and foreign patents, including 55 in China, 21 in the United States, 26 in Europe, 26 in Canada, 16 in Japan, and 80% PCT patents extension.
Human heart has four valves, aortic valve, pulmonary valve, tricuspid and mitral valve, all of which we have completed the technique development. How the heart functions directly relates to human life and the key to the normal operation of the heart is the valve. Now 10% of group of the 65 years or older have suffered from a variety of heart valve disease. While traditional valve replacement surgery requires thoracotomy, re-implantation, process of which will last for up to 6 hours or more and most patients cannot endure such a major surgery, our minimally invasive interventional valve has greatly reducing patients’ pain as the surgery requires only an average of 40 minutes.

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The main members of the company's R & D team are from Johnson & Johnson and other well-known enterprises. Because of the technique leadership, our company has constantly been the concern of domestic and foreign investment institutions. As of April this year, the United States Goldman Sachs, Sequoia Capital, Qiming Venture and other companies have invested more than 70 million US dollars in our company, with a valuation nearly 4 billion RMB now. The State Food and Drug Administration has implemented innovative green channel support for our company’s products, which have passed strict clinical trials and expert review, and are expected to get approval this year. At present, more than 20 countries and 30 provincial hospitals in China have scheduled our products, the prospects of which are promising, once put on the market.
The company has attached great importance to the construction of an innovative system of globalization, the layout of intellectual property rights, and the plan of business development. Firstly, we have established a clinical cooperation system at home and abroad. As medical innovation is inseparable from the advanced medical center at home and abroad, we, together with the Second Hospital of Zhejiang University, China, have built the first heart valve research institute, aimed at developing new technologies to meet the needs of Chinese patients. Meanwhile, we have carried out cooperation with first-class cardiovascular centers in Europe and the United States to develop disruptive technology and participate in international technology and market competition. Secondly, our company is a globally innovative enterprise. By making full use of China's huge market and sufficient capital advantage, we have acquired technology and equity of the early European and American innovative medical enterprises, making them innovation platforms for Zhejiang enterprises in Europe and the United States. Then through re-development and commercialization, we have greatly shortened the cycle-time of new technology into China and effectively reduced the cost of new technological applications as well. Thirdly, our company has supported the construction of professional incubator center. In order to attract talents, we have implemented new types of talent introduction and management mechanism and established offshore research and development incubation center. In this way, overseas talents do not have to start their own business with their family back home, but to make full use of our incubation platform to concentrate on technology research and development, leaving operation and management to the platform. As for talent management, we have adopted equity incentive mechanism to establish a community of interests with our outstanding and innovative talents.

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Core members of our R & D team have established business in Shanghai and Shenzhen before, successfully cultivating two listed companies. And now our company has settled in Binjiang District, Hangzhou. We extend our heartfelt thanks to Zhejiang, Hangzhou and Binjiang District, which have created a favorable environment for us. Based in Zhejiang and global-oriented, we firmly choose Hangzhou as our base camp, striving to create a leader in international medical device technology with our confidence, perseverance and courage to march forward.
Zi Zhenjun, CEO of Venus Medtech

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