Ltd. (NOB) recently announced the completion of a Series A financing round of tens of millions of RMB, led by Northern Light Venture Capital and followed by Nanjing Innomed capital, the original investor. Financing proceeds are mainly used to promote the clinical trials of the company's three types of medical devices related to nitric oxide (NO).
Previously, Novlead had completed an angel investment of financing with the participation of Nanjing innomed in late 2019.
"From the angel investment to the A round, Novlead has achieved amazing results in this year or so. We have completed the development of two NO generators, and our main product is about to obtain the registration inspection report to enter the clinical trial stage." Our portable NO generator is the world's first Class III medical device based on electrochemical chelation catalyst technology to generate NO gas in real time, and can be used independently or in combination with multiple ventilators," said Dr. Wen Mao, CEO of Novlead. The device is based on a unique micro-release controlled reactor that produces high purity NO gas through precise ingredient control and proportioning. Novlead's technological innovation makes NO therapy with the optimal cost performance, adapting to the future Chinese medical price system."
It is reported that the cost of NO gas treatment abroad is very expensive, and the cost of one day of treatment for one patient is as high as 3000 dollars.
In 2020, NO gas therapy has become the epidemic products and treatment options, only in March 2020 there are two NO gas inhalation therapy company products by the U.S. FDA emergency approval for the treatment of COVID-19. Currently there are eight new indications in the U.S. going through the FDA registration approval. Nitric oxide-related treatment track is about to enter the golden period, NO gas therapy product technology is currently concentrated in the United States, in China is the blue ocean track, Novlead Bio is currently the only original NO gas generation treatment company.
The NO medical technology adopted by Novlead is a breakthrough achievement in NO medical field in the past decades, which has overturned the traditional industrial production preparation and then medical transformation method. Its unique portable electrochemical generation technology enables ready-to-use NO gas production, covers neonatal to adult ventilator combination technology, realizes real-time monitoring of patient breathing patterns, and ensures the stability and safety of NO input.
Recently, Novlead's NO sensor technology has been upgraded again to further ensure the accuracy and safety of NO therapy. The company's latest product development direction, the indications cover asthma, diabetic foot, pulmonary fibrosis, chronic obstructive pulmonary emphysema, etc., marking the transformation of Novlead in the field of NO medical to a full range of applications.
For the investment in NO, the lead investor Northern Light Ventures said: "Nitric oxide is the first endogenous gas molecule discovered to be involved in cell signaling, and three scientists won the Nobel Prize for their research. And innovative research around the generation and release of NO gas has been ongoing.
Novlead is a rare team with complete years of technical accumulation, deep understanding of the medical market and extremely strong execution. At the same time, the domestic market has huge untapped potential and we see an exciting stock and incremental market. We believe that Novlead will bring substantial returns to investors while creating tremendous clinical value."
Nanjing Innomed, a senior shareholder, also recognized, "Novlead's scientists are from the University of Michigan, which has a unique advantage in nitric oxide-related technology and is a global leader. At the same time, the founding team also has experienced industrial background of composite talent, they have excellent management ability and market innovation ability, can ensure the full speed of development of this blue ocean track. At the same time, Novlead can also create a platform business model of "NO factory concept" driven by technology, I believe Novlead can become the global NO industrialization head company, the future is promising."
Novlead focuses on the generation and sustained release of nitric oxide (NO) and its medical applications, and is committed to leading the globalization of NO in the treatment of pulmonary hypertension and infectious diseases. It is the first medical device company in China to focus on the generation and sustained release of NO in medical scenarios. It has developed NO gas generators for the treatment of rare or difficult diseases such as pulmonary hypertension, pulmonary fibrosis, chronic obstructive pulmonary emphysema and diabetic foot. Also, the company's innovative technology of NO polymer material donor preparation and production enables the anti-microbial function of NO to form an industrial wave in various fields of medical and general health, sharing a safer and healthier life and enhancing human well-being.
Northern Light Ventures was founded by Mr. Feng Deng in 2005, with the mission of "making world-class Chinese entrepreneurs and founding world-class Chinese companies", and has invested in nearly 400 companies in the TMT, advanced technology and healthcare fields. Northern Light Ventures entered the healthcare field in 2009 and has invested in medical devices, in vitro diagnostics, biopharmaceuticals, healthcare services, E-Health and other segments over the past 10 years, covering almost the entire industry chain. It has invested in more than 60 companies, including CITIC Pharmaceuticals, BGI, Burning Rock DX, Zelgen, iRay Technology, Taimei Medical, Cytek, GuoKe Hengtai, Conrad Pharmaceuticals, Belief Biomed, Ship Bio, OST therapy, and Coyote.
Nanjing Innomed Capital is a company focusing on equity investment and fund management. At present, Innomed Capital manages 4 private equity funds, which mainly invest in strategic emerging industries such as biomedicine, semiconductor, integrated circuit, new generation information technology, intelligent manufacturing and military equipment.
Innomed Capital constantly seeks strategic investment opportunities around the frontiers of world science and technology and the technologies that restrict China's development. At the same time we rely on the strength of the manager and its sponsors and its rich resources in listed companies, investment banks, research and consulting, asset management and other platforms to help advanced companies develop through capital power and industrial resource integration.
