AVCJ

Israeli Rainbow Medical raises $25m from Chinese investors

  • LinkedIn  
  • Google plus  
  • Save this article  

Rainbow Medical, an Israeli medical investment firm, has raised $25 million from a group of Chinese investors including Ping An Insurance and telecom giant ZTE Corporation,financial company Yongjin Group and undisclosed Chinese venture capital funds.

Founded in 2008, Rainbow Medical specializes in incubating medical device start-ups and developing new drugs. It currently holds a portfolio of 12 companies that are developing products for the treatment of a range of chronic indications such as heart disease, diabetes, hypertension and blindness.

"These investments by leading Chinese industrial and financial entities are an expression of the high esteem with which they view our technologies and the products we are developing," Efi Cohen-Arazi, co-founder and CEO of Rainbow Medical, said in a statement.

The firm previously raised funds from medical device companies Medtronic and Abbott, Sorin Group and Japan's Sony Corporation.

The firm has also opened an office in Shanghai to promote strategic collaborations with Chinese medical device companies. The new funds raised will be used for the establishment of new companies with strong intellectual properties in various stages of clinical and pre-clinical trials in Israel and abroad.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Greater China

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs