Achieva Medical Entered into an Exclusive Distribution Agreement with NowYon Medical

SUZHOU, China, Aug. 28, 2024 /PRNewswire/ -- Peijia Medical (HKG: 9996), a leading Chinese domestic player in the high-growth transcatheter valve therapeutics and neurovascular interventions markets, announced that its wholly-owned subsidiary, Achieva Medical Limited ("Achieva Medical"), entered into an exclusive distribution agreement with Jiangsu NowYon Medical Limited ("NowYon Medical"). The agreement marks a significant milestone in the expansion of Peijia Medical's Neurointerventional Business in the Greater China region.

Under the terms of the agreement, Achieva Medical has been appointed as the exclusive distributor for NowYon Medical's innovative YonFlow^® flow diverter, the first retrievable stent system after complete release globally. In January 2023, the product passed the innovative medical device review and was accepted by the Special Review and Approval Procedure for Innovative Medical Devices of the National Medical Products Administration (NMPA). In addition, the application for the registration approval of YonFlow^® has been submitted to the NMPA, which is expected to be approved soon.

"This strategic collaboration with NowYon Medical is a testament to our commitment to bringing cutting-edge medical solutions to patients in need and will continue to consolidate our leading position in the neurovascular interventions market in China." said Dr. Yi Zhang, Chairman and CEO of Peijia Medical. "We are excited about the potential of the YonFlow^® flow diverter and its impact on improving patient outcomes."

About Peijia Medical
Peijia Medical (9996.HK) was established in 2012 and is headquartered in Suzhou, China. Peijia Medical focuses on the high-growth interventional procedural medical device market in China and aims to become a world-renowned medical device platform that provides comprehensive treatment solutions for structural heart and neurovascular diseases. The Company now has three TAVR systems and sixteen neurointerventional devices commercialized in China and various innovative product candidates at different stages of development.

For more information about Peijia, please visit peijiamedical.com/about.

About Achieva Medical
Achieva Medical, a wholly-owned subsidiary of Peijia Medical (9996.HK), is an innovative medical device company committed to development and manufacture of high-end neurointerventional medical devices. Achieva Medical now has sixteen commercialized products and various product candidates at different stage of development covering hemorrhagic stroke, ischemic stroke and vascular access.

About NowYon Medical
NowYon Medical is an innovative medical device company focusing on the development and manufacture of neurointerventional medical devices. Its product pipeline encompasses a range of solutions for hemorrhagic stroke, ischemic stroke and vascular access, including flow diverters, stent retrievers, aspiration catheters, balloon microcatheter, microcatheter, etc.

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SOURCE Peijia Medical