Cryofocus Medtech (Shanghai) Co., Ltd.
- Industry
- Medical Devices
- Founded Year
- 2013
- Headquarters
- Shanghai, China
- Employee Count
- 392
Key People
- Kejian Li - Executive Chairman of the Board
- Jun Zhu - General Manager and Executive Director
- Wei Liu - Chief Financial Officer, Joint Company Secretary and Executive Director
- Dr. Kuiwen Zhao - Technical Director and Research & Development Manager
- Dr. Jihong Qu - Chief Medical Officer
- Zhimin Chen - Executive Vice President of Ningbo SensCure
- Wai Yan Leung - Joint Company Secretary
- Yuepeng Diao - Deputy Vice President
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises seasoned veterans with extensive experience in medical device R&D and engineering.
The core members have over 10 years of R&D and engineering experience in medical device-related products, indicating a strong foundation for product development and commercialization.
- Clinical Need
-
Aspect: Very Strong
Summary: Cryofocus addresses significant unmet clinical needs in cardiovascular and oncological treatments.
By developing cryoablation technologies for conditions like atrial fibrillation, hypertension, and various cancers, Cryofocus targets areas with high patient populations and limited effective treatments.
- Competition
-
Aspect: Somewhat crowded
Summary: The cryotherapy market has established players, but Cryofocus's innovative approach offers differentiation.
The cryotherapy device market has a high technological threshold, with precise control requirements. Cryofocus's proprietary liquid nitrogen cryoablation technology provides a competitive edge.
- Technical Challenge
-
Aspect: Complex
Summary: Developing and commercializing cryoablation systems involves significant technical complexities.
Cryotherapy requires precise control of extreme temperatures and specialized delivery systems, posing challenges in R&D and manufacturing.
- Patent
-
Aspect: Very Strong
Summary: Cryofocus has a robust intellectual property portfolio with numerous patents granted and pending.
As of December 31, 2024, Cryofocus owned 159 patents and had 70 patent applications in China and overseas, reflecting a strong commitment to protecting its technologies.
- Financing
-
Aspect: Medium
Summary: Cryofocus has secured funding from reputable investors but faces financial challenges.
Despite raising funds from investors like Hillhouse Capital, Cryofocus reported only 129 million yuan in cash by April 2022, indicating a need for further financing to support growth.
- Regulatory
-
Aspect: 510k/PMA
Summary: Cryofocus has achieved regulatory approvals for several products, with others in the pipeline.
Products like the Bladder Cryoablation System and Endoscopic Clip for Anastomosis have received NMPA approval, indicating progress in regulatory pathways.
Opportunity Rollup
- Odds of Success
- 4.05
- Peak Market Share
- 5.35
- Segment CAGR
- 4.4%
- Market Segment
- Medical Devices
- Market Sub Segment
- Cryotherapy Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.80 |
| 3 | 1.87 |
| 4 | 3.74 |
| 5 | 5.35 |
Key Takeaway
Cryofocus Medtech's innovative cryotherapy solutions address significant clinical needs, but financial and competitive challenges may impact growth.