The proceeds will be used to accelerate the launch of its first interventional device.
Saint Medical Technology (Chinese: 圣德医疗) recently announced its completion of the Series A financing round valued at nearly CNY 100 million. Probe Capital (Chinese: 探针资本) served as the exclusive financial advisor.
The round is comprised of Series A-1 financing round completed in Janurary, 2021 and the Series A-2 financing round completed in May, 2022.
The Series A-1 financing round was co-invested by Innomed Capital (Chinese: 鹰盟资本) and Jianyuantianhua Capital (Chinese: 深圳高新投和建元天华). The Series A-2 financing round was co-invested by Kaitai Capital (Chinese: 凯泰资本), Nanjing Innovation Capital Group (Chinese: 南京市创新投资集团) and Jiangbei Technology Capital Group (Chinese: 江北新区科技投资集团).
The proceeds will be used to accelerate the clinical trials of its first interventional device for valves, Xcor, and the product launch of a closed-loop solution incorporating Medical Device, Digital Medicine and Service.
Xcor went through large-scale production in Feburary 2021 and achieved the first human implantation which was performed under professor Guo Yingqiang’s team at West China Hospital of Sichuan University in May 2022.
Dr Ma Chenming, the founder of Saint Medical Technology, graduated from Peking University Health Science Center and Charlotte Clausecker Medical School Berlin. After graduation, he worked in Beijing Anzhen Hospital affiliated to Capital Medical University, Deutsche Heart Center Munich and other world-class cardiovascular hospitals for many years, during which he accumulated rich experience in transcatheter valve therapy and participated in the R&D of a number of transcatheter valve products.
Saint Medical’s competitors include MicroPort (Chinese: 心通医疗), Venus Medtech (Chinese: 启明医疗) and Endovastec (Chinese: 心脉医疗).