Chinese medical device start-up receives $100m
Chinese medical instrument provider Peijia Medical has raised a RMB700 million ($100 million) Series C round from a group including Matrix Partners China and Lilly Asia Ventures.
Grand Flight, SDIC Fund Management, and China Chengtong Asset Management also participated. Matrix China co-led the start-up’s RMB70 million Series A in 2016.
Launched in 2012, Suzhou-based Peijia focuses on heart valve disease treatment through the development of interventional devices. The company’s TaurusOne product received approval from the National Drug Administration (NMPA) in 2017.
The capital will be used for further research and development of medical devices and treatment services. Peijia plans to roll out TaurusOne for commercial production in 2020, while other products focused neurological areas commence clinical trials.
“Peijia Medical is the only company in China engaged in an holistic solution in the field of neurological intervention,” Yi Zhang, CEO and founder of Peijia, said in a statement, “It not only provides a complete solution for clinicians, but also allows more patients to use domestic medical equipment.”
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