- GBI & PARTNERS
- Core Medtech snaps up RMB 100m in Series A
Core Medtech snaps up RMB 100m in Series A
Shenzhen Core Medtech Science & Technology Co., Ltd (GBI translation), an active medical implant start-up based in the Great Bay Area, reportedly raised nearly RMB 100 million (USD 14.83 million) via a Series A financing round. New Alliance Capital led the funding and Puhua Capital and Efung Capital participated. Proceeds will go towards clinical study for the firm's miniature magnetic levitation artificial heart product, and research and development (R&D) into novel products.
Core Medtech boasts in-house developed ultra-small magnetic suspension centrifugal artificial hearts, 34 mm in diameter, 26 mm in thickness, and 90 grams in weight. Studies have shown that said product has excellent blood compatibility, low risk of causing hemolysis, thrombosis, or other damage to blood cells, and has the advantages of low power consumption, strong battery life, and less heat. The product is designed to offer a permanent treatment for patients with end-stage heart failure, as a transitional treatment before heart transplantation, short-term treatment to assist heart function recovery, partial replacement of ECMO for extracorporeal circulation assistance and emergency circulation assistance treatment.