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Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

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Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

Lei Jianping on April 11

The IPO of Ike Medical Devices (Beijing) Co., Ltd. (hereinafter referred to as "Ike Medical") was terminated a few days ago, and Ike Medical was preparing to be listed on the Science and Technology Innovation Board.

Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

Aike Medical originally planned to raise 1.039 billion yuan, of which 256 million yuan was used for the production and construction project of neurointerventional medical devices, 430 million yuan for the research and development project of neurointerventional medical devices, 103 million yuan for the marketing network construction project, and 250 million yuan for supplementing working capital.

The annual loss is 100 million yuan

Founded in 2017, with its headquarters and production center in Beijing and its R&D center in California, Eco Medical is committed to developing a series of innovative neurointerventional devices and related access devices for the diagnosis and treatment of hemorrhagic stroke and ischemic stroke.

Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

At present, the company has obtained NMPA approval for 3 products - Cosine distal access catheter, Sine microcatheter and Lattice blood flow directing dense mesh stent.

Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

According to the prospectus, Aike Medical has no revenue in 2020 and 2021, and its revenue in 2022 will be 900,900 yuan, with net losses of 35.7244 million yuan, 89.45 million yuan, and 103 million yuan respectively, and net losses of 36.9675 million yuan, 95.933 million yuan, and 106 million yuan after deducting non-profits, respectively.

Sequoia and Canopy are shareholders

Before the issuance, Lv Shumi, Lv Yiran and his son directly held 4.64% of the company's shares, and indirectly controlled 39.76% of the company's shares through Shanghai Aixiang, Beijing Aichi and Shanghai Yuanji, and Lv Shumian and Lv Yiran and his son controlled a total of 44.4% of the company's voting rights, and served as the company's chairman and general manager respectively, presided over the company's actual operation and management, and were the actual controllers of the company.

Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

Before the IPO, Shanghai Aixiang held 32.96% of the shares, Sequoia Hanchen held 17.04% of the shares, Boyuan Jiayu held 8.6% of the shares, MHL held 6.96% of the shares, Mega Goal held 5.16% of the shares, Lv Yiran held 4.64% of the shares, Beijing Aichi and PICC Fund held 4.6% of the shares, and Huagai Xincheng held 4.26% of the shares;

Ike Medical's IPO was terminated: it had planned to raise 1.04 billion Sequoia and Huagai are shareholders

Proxima Venture Capital holds 3.73% of the shares, Taikang Life Insurance holds 3.41% of the shares, Shanghai Yuanji holds 2.2% of the shares, and Guo Ruijiu and Lv Yaxuan hold 0.93% of the shares respectively.

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