MagAssist

About MagAssist

MagAssist, a medical technology company headquartered in Suzhou, China, was founded in May 2017 by Dr. Po-Lin Hsu, Lars Yang, and Xu Bozhen. Dr. Hsu, who serves as the company's CEO, brings an extensive academic and research background to the firm, holding dual doctoral degrees from the University of Cambridge and RWTH Aachen University. Her journey into entrepreneurship was driven by a recognition of the significant demand for advanced life support systems in China. The founding team has deep roots in cardiovascular engineering, with members having years of experience in artificial heart development.

The company focuses on developing and producing a platform of life support devices for patients with acute or severe organ failure, particularly cardiac and pulmonary conditions. Its business model revolves around the research, development, and sale of these high-tech medical devices to hospitals and clinicians. MagAssist operates in the global market for cardiac failure treatment devices, which is projected to reach substantial value, addressing a growing patient population worldwide. Since its inception, the company has secured significant funding from notable investors, including Sequoia Capital, CDH Investments, and Northern Light Venture Capital, with its Series C round in 2021 raising nearly $78 million.

MagAssist's product portfolio is designed to create a comprehensive life support platform. Key products include the MoyoAssist® Extracorporeal Ventricular Assist Device (Extra-VAD), the NyokAssist™ Interventional VAD, the BreathMo® Extracorporeal Membrane Oxygenation (ECMO) system, and the DonorLife™ Organ Care System. The MoyoAssist®, which has received market approval from China's NMPA, is a fully magnetically levitated blood pump for short-to-medium-term support, designed to minimize blood damage. The NyokAssist™, which has received Breakthrough Device designation from the U.S. FDA, is a minimally invasive VAD featuring a 9 Fr foldable catheter pump, designed to reduce vascular complications during high-risk percutaneous coronary interventions. The company leverages technologies like computational fluid dynamics and full magnetic levitation to enhance the hemocompatibility and hydraulic efficiency of its devices.