Koutech Medical Robotics (Shanghai) Co. Ltd. reported it has raised “hundreds of millions of yuan” in a series A round to support the development of its surgical robot. The round is led by Qiming Venture Partners.
Lepu Medical Technology (Beijing) Co. Ltd. received marketing approval from China’s NMPA for its peripheral cutting balloon to treat peripheral arterial disease.
China has issued a slew of measures to encourage domestic developers by constraining overseas-made medical devices from entering the market. “Policies to guide medical institutions to give priority to the purchase of domestic medical devices and consumables can help Chinese manufacturers to acquire market share. This also encourages domestic manufacturers to continue improving technology to narrow the technology gap with foreign firms,” said Cai Mingzi, analyst at Kaiyuan Securities Co. Ltd., in a note.
MGI Tech Co. Ltd. raised ¥3.602 billion (US$518 million) on the Shanghai STAR Market. Shares (SHA: 688114) debuted at ¥87.18 apiece on the first trading day on Sept. 9. They closed at ¥124 per share on Sept. 14.
Leadinno Medical Valley Co. Ltd. reported it has raised more than ¥100 million (US$14.5 million) in a series A round for the development of its implantable electrical neurostimulation devices.
Carbon Medtech (Shenzhen) Co. Ltd. reported that it has raised “tens of millions of yuan” from its pre-A+ round financing. This financing was jointly led by Jinding Capital and Shenzhen Small & Medium Enterprises Credit Financing Guarantee Group Co. Ltd.
Sichuan Jinjiang Electronic Science and Technology Co. Ltd. (JJET) recently completed series A+ and series B rounds, raising a total of ¥700 million (US$101 million) in series A and series B financing.
Xeltis BV raised $15 million in series D2 funding to develop its restorative vascular access device for patients with chronic kidney disease who are on hemodialysis. The investment in this technology, called the Axess graft, came from Hong Kong-based China Grand Pharmaceutical and Healthcare Holdings Ltd. (Grand Pharma). The deal focuses mainly on commercializing Axess, but also involves other new products in the field of hemodialysis developed as part of the Xeltis technology platform. The commitment from Grand Pharma includes equity investment and product licensing, representing Xeltis’ first commercial deal and its first funding from an Asian concern.
Shanghai United Imaging Healthcare Co. Ltd. went public in the Shanghai Stock Exchange STAR Market and raised ¥11 billion (US$1.6 billion) in its initial public offering.
