The funds will be used for product registration application, market expansion, research and development of pipeline products.
Suzhou Rongsheng Medical Technology (Chinese: 融晟医疗) recently received tens of millions of CNY in Series A financing, led by LYZZ Capital; existing investor Qiaojing Capital also took apart. DAS Capital served as the exclusive financial advisor for this round of financing.
Founded in 2019, Rongsheng Medical is a platform-based company focusing on the field of precision internal radiation interventional therapy for tumors. It has developed a series of stent products for different indications based on the radioactive particle internal irradiation stent technology.
Studies have shown that tumors can lead to stenosis of the lumen, including the bile duct, airway, esophagus, and portal vein, and the survival rate of patients with lumen stenosis is significantly reduced. The current main treatment for malignant biliary obstruction is to implant biliary stents, but biliary stents generally last for a short time, and the continuous growth of the tumor is likely to cause bile duct restenosis again.
The biliary particle stent independently developed by Rongsheng Medical is an innovative technology for the treatment of malignant biliary obstruction. It can relieve the obstruction and inhibit the growth of tumors around the stent through the implantation of self-expanding stents and radioactive seeds, thereby reducing the rate of restenosis and increasing the overall survival of patients compared with traditional biliary stents.
At present, the biliary particle stent, the company's first product, has obtained the national innovative medical device certification, and is in the process of NMPA registration application.
“Rongsheng Medical is a leading company in the field of internal radiation therapy with strong research and development capabilities. We look forward to the early launch of radioactive particle stents for the benefit of patients,” says Cheng Xiakai, managing director of LYZZ Capital.
The main competitors of Rongsheng Medical include Cook Medical, Micro-Tech Endoscopy (688029:SH), GRIMED Medical (600206:SH) and Zhiye Medical.