Endovastec™, a Subsidiary of MicroPort®, Listed on the STAR Market of the Shanghai Stock Exchange

Shanghai, China - Shanghai MicroPort Endovascular MedTech Co., Ltd. ("Endovastec™", or "the Company"), which is a subsidiary of MicroPort Scientific Corporation ("MicroPort®"), was listed on the STAR Market (Stock code: 688016) of the Shanghai Stock Exchange on July 22, becoming one of the few medical device companies in the first batch of 25 companies to be listed on the market.

 

Endovastec™ was founded in 2012 and is mainly engaged in the development, manufacturing and sales of aortic and peripheral vascular intervention devices. In the area of aortic intervention devices, the Company is one of the major players that have presented a complete range of products, leading scale and strong competitiveness in the Chinese market, with the main products being aortic stent graft systems. In the area of peripheral vascular intervention devices, the Company boasts a long standing presence and currently has product offerings including peripheral vascular stent systems and peripheral vascular balloon dilation catheters. In addition, the Company's stent graft system in surgical operation is the only device that has been approved to be applied in thoracic aortic dissection procedures in China. After years of development, Endovastec™ products cover over 700 hospitals in more than 30 provinces in China. Meanwhile, the Company has been proactively exploring the overseas markets and is currently exporting products to South America.

 

Endovastec™ boasts a professional R&D team. The Company places great emphasis on the building of R&D team since its establishment. Through internal cultivation combined with external introduction of talents, the Company continuously increases the talent reserve and has mustered an industrywide competitive R&D team, which is composed of experienced, highly innovation-minded and multi-disciplined technology talents specializing in the R&D of aortic and peripheral vascular intervention devices. As of the end of 2018, the Company has 74 employees engaged in R&D, accounting for 26.06% of the workforce. Among them, 36 employees possessed postgraduate degrees, accounting for 48.65% of the total. The academic backgrounds of the R&D staff covered a variety of disciplines such as materials science, mechanical design, manufacturing and automation, pharmacy, pharmaceutical preparations, and textile engineering. The multi-disciplinary team is able to meet the Company's needs for the R&D of various core technologies.

 

With regards to scientific researches, Endovastec™ constantly adheres to the R&D and innovation on the products featuring independent intellectual properties and proactively applies for patent protection for its technological innovation. As of March 31, 2019, the Company possessed 86 patents that had been awarded in China or overseas, with 61 awarded in China (specifically 43 invention patents, 16 utility model patents and 2 design patents) and 25 awarded overseas (all being invention patents).

 

Endovastec™ President Ms. Zhenghua Miao said, "Being listed on the STAR Market has marked our first step in the capital market. The Company will make full use of the raised funds to press ahead with a number of R&D projects with great potential. Driven by both technologies and capitals, Endovastec™ will have more capacity for sustainable development. We will build the Company into a world leading high-tech Company specializing in aortic and peripheral vascular intervention devices to return even more profits for the investors.”