Domestic catheter that clears blocked brain vessels… also breaks through the 'lean season' in bio investment

[For more diverse corporate information on the startups featured in this article, please visit the Unicorn Factory big data platform 'Data Lab'.]

Enventric, a biotech startup in its seventh year of operation, has successfully domesticated medical vascular devices known as "catheters," which were previously monopolized by global companies such as those in the United States, thereby breaking through recent investment trends head-on. Enventric completed a pre-IPO round of investment worth 34.5 billion won on the 10th. LB Investment led this round, with new investors including Lofti Rock Investment, Moneyball Ventures, Shinhan Venture Investment, Ajou IB Investment, and HB Investment joining in. Shinhan Capital, IPS Ventures, Quad Asset Management, and Heungkuk Securities participated as follow-on investments from existing shareholders.

Enventric is a vascular medical device company developing interventional procedure devices based on catheters for cerebral, cardiovascular, and arrhythmia applications. Interventional procedures involve inserting instruments through blood vessels to treat lesions instead of opening the chest or head. In January, Enventric received product approval from the Ministry of Food and Drug Safety for its distal access catheter (DAC) "EvoGlide" for cerebral vascular interventional procedures, and recently also secured approval for its stent retriever "ULTRIVA," completing a lineup of core devices for treating cerebral infarction.

Oh Seung-yoon, Executive Director at LB Investment who led this round, explained, "Enventric's business is divided into arrhythmia, cerebral vascular, and cardiovascular segments, but in common, they excel at manufacturing high-difficulty equipment and consumables used in catheter-based procedures." He added, "In particular, catheter-based interventional surgery is growing rapidly, driven by the macro factor of an aging population."

Another pillar that attracted investor attention was the team. Enventric co-founders CEO Min Ji-young and CEO Min Seong-woo are siblings. CEO Min Ji-young, a former consultant who gained experience at major domestic conglomerates, joined forces with her younger brother, who had been in charge of medical device development and marketing in the United States.

Executive Director Oh stated, "CEO Min Seong-woo studied in the U.S. and served as a director at global medical device companies, gaining experience across the entire process from R&D to sales and marketing." He continued, "The team at Enventric's U.S. subsidiary is also composed of alumni from global medical device companies such as Johnson & Johnson and Medtronic, giving them a strong network."

Lee Seung-woo, Executive Director at Devsisters Ventures, who participated in investment rounds from seed to Series A and B, offered a similar assessment. Executive Director Lee said, "The vascular medical device market requires expertise, making it difficult for beginners to pioneer in a venture style." He added, "Enventric was founded by professionals with global-level experience, and their product development plans and direction have been well maintained, so they hold an advantage that is not inferior even by global standards."

Enventric has recorded cumulative sales of approximately 6 billion won over the past four years, with a compound annual growth rate (CAGR) of 52.9% during the same period. This was driven by high reinvestment rates from existing shareholders and the continued entry of large institutional investors. The company plans to invest this funding in strengthening R&D capabilities, expanding manufacturing infrastructure, and entering global markets.

Investors forecast that Enventric's corporate valuation will grow rapidly if it succeeds in technology commercialization and branding. Executive Director Oh Seung-yoon stated, "It is important to leverage our already established R&D capabilities and invest time and effort to achieve successful commercialization." He predicted, "If we accomplish this, we can move beyond a unicorn status to become a decacorn (a startup valued over $10 billion) (corporate valuation of 10 trillion won or more)."

Executive Director Lee Seung-woo noted, "From the perspective of patients undergoing procedures, there is inevitably a tendency to prefer widely known brands." He stated, "If Enventric takes the time to properly establish its brand value, it can be elevated to a world-class vascular medical device company."

Meanwhile, Enventric is also accelerating preparations for a KOSDAQ listing with Kiwoom Securities as the lead underwriter. The company aims to file for preliminary review with the exchange in the first half of next year.

[MoneyToday startup media platform Unicorn Factory]