Venus Medtech (Hangzhou) Inc. announced that Venus-Neo, a new generation of expandable bioprosthetic dry tissue valve developed by the Company, has successfully completed the first clinical application of First-in-Man (FIM) trials in the Union Hospital, Tongji Medical College, Huazhong University of Science and Technology. As the Company's first surgical bioprosthetic valve, Venus-Neo features a supra-annular design with bovine pericardium tissue as the valve leaflet. With optimized valve design and unique anti-calcification dry tissue technology (Venus-Endura), Venus-Neo can be stored in a fluid-free environment without aldehyde residue, offering enhanced safety and facilitating clinical application, storage and transportation. As China's aging population increases, aortic valve disease has become one of the most common valvular heart diseases, and surgical aortic valve replacement (SAVR) is currently the standard treatment for the aortic stenosis and aortic regurgitation, with strong long-term clinical evidence. However, the high risk associated with reoperation after bioprosthetic valve deterioration cannot be ignored. Valve-in-valve procedure is increasingly being used in the treatment of surgical bioprosthetic valve deterioration, and Venus-Neo's expansion zone provides a better choice for patients who may require the valve-in-valve treatment in the future. This is another new generation of dry tissue valve product with special design from the Company that has entered clinical studies after Venus-Vitae and Venus-PowerX, marking a milestone for the Company to achieve a full layout of aortic valve disease solutions while enhancing the durability of bioprosthetic valves, consolidating the Company's position as a leader in the treatment of valvular heart diseases in China. The Board looks forward that the Company will complete Venus-Neo's clinical studies rapidly, by leveraging its technical advantage and continue its layout of new generation innovative products so as to benefit valvular heart disease patients worldwide.