Briohealth Files for STAR Market IPO, Targets Global Artificial Heart Market

Suzhou-based Briohealth formally submitted its IPO prospectus on December 26, 2025, seeking a listing on Shanghai’s STAR Market, with CITIC Securities acting as sponsor.

Founded in 2018, BRIOHEALTH focuses on the R&D and commercialization of innovative implantable medical devices, particularly artificial heart systems. The company has established operating entities across China, the United States, and Europe, building a global footprint early in its development.

Its flagship product is a fully magnetically levitated left ventricular assist device (LVAD). In China, its first-generation product CH-VAD has been approved by the National Medical Products Administration (NMPA), becoming the country’s first approved fully magnetically levitated implantable artificial heart. The upgraded CH-VAD Plus is currently under regulatory review and is expected to receive approval in early 2026.

In the U.S., Briohealth's next-generation product BrioVAD has been cleared by the FDA to enter clinical trials, making it the first China-developed active implantable medical device to receive FDA approval for clinical studies. In Europe, the company has also submitted applications for pre-market clinical trials.

According to the prospectus, as of the filing date, over 670 CH-VAD implantations have been completed in China. In the U.S., BrioVAD clinical trials have enrolled 108 patients across 22 centers.

Globally, Abbott’s HeartMate 3 has long dominated the LVAD market. Briohealth says BrioVAD offers advantages in size and weight and is currently undergoing head-to-head clinical trials against HeartMate 3 in the U.S., potentially challenging the existing monopoly. As of the end of 2024, Briohealth accounted for 26.9% of cumulative LVAD implantations in China.

Since its founding, the company has attracted investment from Sequoia China, Gaorong Capital, CICC Capital, PICC Capital, and Highlight Capital, among others.

Source：IPOzaozhidao