SiBionics raises CNY 500 million again after its completion of a CNY 500 million Series C earlier this year
Medical Device Company SiBionics (Chinese: 硅基仿生) announced that it had raised nearly CNY 500 million (USD 72 milion) in its Series D round of financing, which was jointly led by Shanghai HealthCare Capital (Chinese: 上海生物医药基金) and Guangdong Chinese Medicine Healthcare Capital (Chinese: 广东中医药大健康基金), with participation from Industrial Securities Capital (Chinese: 兴证资本), Next Capital (Chinese: 嘉程资本), China New Town (Chinese: 中国新城镇) and other investors. Optimas Capital acted as the financial advisor (Chinese: 方圆资本).
Proceeds will be used for R&D of new products, the expansion of automatic production lines, and business development both domestically and internationally.
Founded in 2015, SiBionics is dedicated to the R&D and commercialization of active implantable medical devices and medical artificial intelligence in the chronic conditions management. With over 500 professionals in China and Los Angeles, SiBionics leverages cutting-edge technologies including brain-computer interface and visual coding, medical imaging artificial intelligence, medical big data and medical robots to search for better solutions to diseases such as retinitis pigmentosa, diabetes mellitus and its complications, gastrointestinal cancers, and cardiovascular & cerebrovascular diseases. It has built a portfolio pipeline including retinal prosthesis, continuous glucose monitoring (CGM), diabetic retinopathy screening, gastric cancer screening and capsule endoscope robot.
With three base technology platform including High-precision sensor platform, Soc design platform, and AI algorithm platform, SiBionics has launched its star product SiBionics® CGM. As a product dealing with Diabetes Mellitus (DM), CGM provides a comprehensive solution for non-DM, pre-diabetes, and DM patients. Minimally invasive wearable sensors and mobile phone apps enable users to easily monitor their 24-hour dynamic blood glucose with no fingersticks.
SiBionics's competitors include MicroPort (Chinese: 微创医疗), Wondfo (Chinese: 万孚), and Realcan (Chinese: 瑞康).