Venus Medtech wins first prize of Technical Invention Award of Ministry of Education
Recently, Venus Medtech (Hangzhou) Inc. (hereinafter referred to as "Venus Medtech", 2500.HK), the leader in transcatheter structural heart valvular therapies in China, won the first prize of Technical Invention in the Outstanding Scientific Research Output Awards (Science and Technology) for Higher Education Institutions for its key materials and technologies of self-expanding transcatheter pulmonic valve system project.
The Outstanding Scientific Research Output Awards (Science and Technology) for Higher Education Institutions, established by Ministry of Education of China, is one of the most authoritative and influential awards in science and technology innovation across the country. In 2020, only 17 projects were awarded first prize in technical invention.
The key materials and technologies of self-expanding transcatheter pulmonic valve system project is mainly based on VenusP-Valve, a core product of Venus Medtech jointly developed by the company and Sichuan University. The product received strategic support from the National Key Research and Development Program under the 13th Five-Year Plan. As the world's first self-expanding transcatheter pulmonic valve to enter clinical trials, it’s able to meet the needs of more than 85% of patients. It is also the first large-sized TPVR product for patients with RVOTD after receiving TAP treatment globally.
Up to now, VenusP-Valve has been used in clinical trials in more than 50 hospitals across four continents - Asia, Europe, North and South America, with no valve failure observed since the first implantation in 2013. Follow-up data from terminal hospitals worldwide demonstrate good safety and efficacy of the product.
In April 2019, VenusP-Valve was included by the National Medical Products Administration (NMPA) in the "Special Review and Approval Procedures for Innovative Medical Devices" and has completed a multi-center, single-arm, non-blind critical trial. In March 2021, the product obtained special use authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for clinical use in designated medical institutions. In addition, it is under application for Investigational Device Exemption (IDE) in the United States.
"Material technology is one of the cornerstones of innovation in medical devices. Durability is vital for biological heart valves", said Eric Zi, Founder and General Manager of Venus Medtech. "In the future, we will maximize the Endura dry-tissue valve material platform to enable an upgrade of VenusP-Valve and apply novel materials to more products. As we enrich our product portfolio and deliver meaningful innovation, we are determined to bring state-of-the-art technologies developed in China to the world for more patients."