Chinese medical device company Ankon raises $100m
Shanghai-based Ankon Medical Technologies, which develops medical equipment for gastric examination, has raised a $100 million round of funding from investors including SBCVC.
Domestic PE investors including Dazhong Investment, Pre-IPO Capital Partners, Qiansheng Investment, and Tongsheng Capital also invested. SBCVC previously invested in Ankon in February.
Ankon was founded in 2008. Its flagship product is Navicam, a capsule endoscopy device that helps collect image data of patients' digestive tract. After patients swallow the capsule, the camera inside takes pictures that are transmitted to a recorder worn on a belt. During the 15-minute examination procedure, the endoscopist can remotely control the capsule to improve visualization of the stomach and digestive system. The data is downloaded to a computer for analysis by a doctor.
Navicam has obtained approvals from the China Food and Drug Administration. At present, nearly 1,000 Chinese medical institutions use Navicam for diagnosis of gastric diseases. With the latest funding, the company plans to expand overseas and develop more technology for early diagnosis of various diseases.
SBCVC is investing from its fifth fund, which closed at $459 million early last year. The firm targets technology, media and telecom (TMT), healthcare, cleantech and new materials sectors.
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