Changzhou Panda Medical Received Few Million Dollars in Pre-Series A Financing

According to Iyiou, on June 11, 2019, Changzhou Panda Medical just received a few million dollars in Pre-Series A financing. This round of financing was led by Red Hill Capital and followed by Sunland Capital. The funds from this round of financing would be used to advance clinical trials of its Intragastric balloon system and a range of product developments.

Founded in May 2017, Panda Medical is a Chinese high-tech company specializing in diabetes and weight loss. It is mainly engaged in the R&D, production and sales of non-invasive weight loss medical devices. Panda Medical also has its own production in Changzhou, China.

Research in The Lancet indicates that Adult obesity rates in Chinese cities have exceeded 40%. Obesity not only affects appearance, but also causes diabetes, high blood pressure, cardiovascular disease and other diseases of its non-invasive, safe, simple, effective, and low-risk advantages.

The Intragastric balloon system is a technique for putting a balloon into the stomach to achieve weight loss by preempting the stomach volume and reducing dietary intake. Panda Medical's balloons are swallowed orally, degraded automatically within 4-6 months of being placed in the body, and eventually excreted through the gastrointestinal tract without the need for endoscopes, anesthetics or sedatives.

Redhill Capital is a venture capital firm specializing in early-stage investment. Its primarily invests in the medical industry.

Sunland Capital is a fund focused on early and growing health care industry investments.