DeHeng Advised TINAVI on Obtaining Approval

from SSE Star Market IPO Committee 

2020-04-11

Recently Shanghai Stock Exchange (SSE) has announced the results of the 11th review meeting of the STAR Market Stock Listing Committee in 2020, approving the initial public offering (IPO) of Beijing TINAVI Medical Technology Co., Ltd. ("TINAVI"), for which DeHeng acted as the special legal counsel.

Founded in 2010, TINAVI specializes in the research, development, production and clinical application of orthopedic surgery robots, and is the first enterprise in China and the fifth in the world to obtain the medical robot registration license. TiRobot® Orthopedic Robotic System has sub-millimeter positioning precision, can be widely used in the internal screw fixation in the whole spine (including neck, chest, waist, and sacrum), pelvis, and limbs, leading the world with its indication range and positioning precision. In 2018, TiRobot® Orthopedic Robotic System was displayed at the China Pavilion at the First China International Import Expo along with other high-profile projects such as Fuxing High-speed Train, ARJ regional jet, C919 commercial airliner and Zhuhai-Hong Kong-Macao Bridge. By the end of 2019, it had been used clinically by more than 70 medical institutions nationwide to assist in more than 5,300 operations. 

The steady expansion of the STAR Market provides a solid foundation for the innovation-driven development of the capital market. With differential arrangements in terms of profitability and equity structure, the STAR Market is more inclusive and adaptable to innovative tech companies and will further stimulate their vitality. The IPO will issue no more than 41.9 million shares, and the proceeds will be used to fund the research and development of orthopedic surgery robots, the construction of orthopedic surgery robot operation center, the expansion of production capacity for surgical consumables and tools needed by the orthopedic surgery robot, the construction of marketing system and the company’s abilities to go international.  

For this project, the DeHeng team, led by partners Xu Jianjun and Yang Xinghui, with primary support from lawyers Zhang Dingcheng, He Xinyu, Huang Liping, Zhong Yaqiong and Wang Anqi, provided efficient and excellent legal services, winning the client’s high praises. In the future, DeHeng will continue to step up services to innovative tech companies, and help those with outstanding performance to go public on the STAR Market.