Agreement combines Baird Medical's clinical, regulatory, and global commercialization expertise with Alpmed's leadership in IRE technology
Collaboration will advance technology development, global regulatory approvals, commercialization, and clinical adoption across key international markets, including the United States

NEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Baird Medical Investment Holdings Ltd. (NASDAQ:BDMD) ("Baird Medical" or the "Company") and Tianjin Yuanshan Medical Technology Co., Ltd., operating under the Alpmed brand ("Alpmed"), a China-based innovator in irreversible electroporation ("IRE") technology, announced the signing of a strategic cooperation agreement to establish a long-term partnership focused on global development and commercialization of next-generation IRE technologies.

The partnership represents an important strategic milestone for Baird Medical, as the Company expands beyond its market-leading microwave ablation (MWA) system for benign thyroid nodules and broadens its portfolio of minimally invasive technologies targeting key markets worldwide.

Under the partnership, the companies will initially collaborate on IRE, an advanced, non-thermal ablation technology that uses electrical pulses to destroy targeted tissue while preserving surrounding critical structures, such as blood vessels and nerves. The collaboration will combine Alpmed's expertise in IRE innovation with Baird Medical's regulatory and global commercialization capabilities, with the goal of advancing next-generation precision ablation solutions and exploring opportunities to expand the partnership beyond IRE.

Baird Medical and Alpmed plan to submit a 510(k) application for the first co-developed product to the U.S. Food and Drug Administration (FDA) by the end of 2026, with the potential to receive regulatory clearance in 2027. The first device is intended for the ablation of soft tissue solid tumors in the liver, breast, thyroid, and prostate. Baird Medical will lead the global regulatory approval processes, including in the U.S., and holds worldwide commercialization rights for this IRE product.

"This partnership represents a significant milestone in Baird Medical's strategy to build a diversified global portfolio of innovative, minimally invasive treatment technologies," said Haimei Wu, Chairwoman and CEO of Baird Medical. "By combining Alpmed's leadership in irreversible electroporation with Baird Medical's proven regulatory and commercialization expertise, we believe we are well positioned to accelerate the global adoption of the jointly developed IRE technology. As we continue expanding our presence in the United States and other key international markets, this collaboration reinforces our long-term commitment to delivering differentiated technologies that create value for physicians, patients, and our shareholders."

About Baird Medical

Baird Medical is a global, pioneering medical device company specializing in minimally invasive ablation technologies for a range of solid tumors. The Company’s lead product, a microwave ablation (MWA) system, is FDA-cleared for soft tissue ablation and is being launched in the U.S. primarily for the treatment of benign thyroid nodules. In addition, the Company is expanding its minimally invasive technology portfolio, including IRE-based products and an AI-powered robotic ablation system.

Baird Medical's MWA solutions have been adopted by over 30 leading U.S. institutions and private practice groups, including the Mayo Clinic, Columbia University Medical Center, UCSF Medical Center, and The George Washington University Hospital. The company is rapidly expanding its global commercial footprint, with sales now spanning more than 20 countries.

About Alpmed

Alpmed is a member company of Saixiang Group and is under common control with Tianjin Saixiang Technology Co., Ltd. (SZSE: 002337), a publicly listed company. Alpmed focuses on the research, development, and innovation of IRE technology and is an early mover and one of the leading companies in the field. The company has established an IRE technology portfolio across four areas: tumor ablation, cardiac electrophysiology, peripheral vascular intervention, and interventional pulmonology.

In oncology, Alpmed has commercialized China’s first domestically developed IRE ablation product for malignant liver and pancreatic tumors. The company is also advancing applications of its technology in prostate, thyroid, breast, and other solid tumor indications.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Baird Medical's future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as "may", "could", "should", "expect", "intend", "might", "will", "estimate", "anticipate", "believe", "budget", "forecast", "intend", "plan", "potential", "predict", or "continue", or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Baird Medical and its management, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Baird Medical does not undertake any duty to update these forward-looking statements.

Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) the risk that Baird Medical may not be successful in expanding its business in China or the United States; (2) changes in general economic conditions; (3) regulatory conditions and developments; (4) changes in applicable laws or regulations; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings instituted against Baird Medical or others; and (6) other risks and uncertainties from time to time described in the Registration Statement relating to the Business Combination and the transition report, including those listed under the sections titled "Risk Factors" therein, and in ExcelFin's other filings with the SEC.

The foregoing list of factors is not exclusive. Additional information concerning certain of these, and other risk factors is contained in ExcelFin's most recent filings with the SEC and in the Registration Statement described above filed by Baird Medical in connection with its business combination with ExcelFin. All subsequent written and oral forward-looking statements concerning Baird Medical, the business combination described herein, or other matters attributable to Baird Medical or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Baird Medical expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact:

Lee Roth

Burns McClellan for Baird Medical

Lroth@burnsmc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/183c44c1-565c-4fc3-868f-a5855715879a