BrosMed Medical Completes ￥100M Series C Financing

According to VCBeat, recently, BrosMed Medical Co., Ltd. ("BrosMed Medical") announced that it had completed a Series C financing of hundreds of millions, led by GL Ventures, with participation from Cathay Capital and the Service Trade Innovation and Development Guidance Fund. Haoyue Capital served as the exclusive financial adviser. As a national brand of balloon catheters in coronary and peripheral arteries with leading technology in China, the latest round took BrosMed Medical less than four months to complete quickly.

BrosMed Medical develops, manufactures and markets medical devices primarily used by interventional cardiologists, radiologists and vascular surgeons in angioplasty procedures and other minimally invasive devices. It provides solutions to customers through innovative design, effective supply chain management, world-class manufacturing, and flexible channels of distribution and through the development or acquisition of innovative technologies.

As a leading company in the vascular intervention market in China, BrosMed Medical has established the Engineering Technology Center of Vascular Interventional Therapy and Medical Devices in Guangdong Province and the Key Laboratory of Vascular Interventional Medical Device Research and Development in Dongguan City. BrosMed Medical has launched products in the global market, covering three fields and more than a dozen categories, and the number of its R&D projects are also in the double digits.

On February 19, 2020, three products of BrosMed Medical, which represent the international advanced technology and unique innovation in percutaneous transluminal angioplasty (PTA) balloon catheters, received the CE mark approval on the same day and launched them in the market of European Union and relevant regions.

Among those three products, Tri-Wedge is a PTA Scoring Balloon Dilatation Catheter, which ideal for Arteriovenous Fistula (AV) Shunt Scoring. It achieves accurate annular fibrous, calcified plaque location and minimal balloon slippage.  

Another two products are the Wedge NC Scoring Balloon Catheter and Alveo HP Balloon Catheter. The Wedge NC is designed as a Non-Compliant High Pressure Scoring Percutaneous Transluminal Coronary Angioplasty (PTCA) Balloon to satisfy clinical needs which current cutting/scoring PTCA balloons do not meet. Alveo HP Balloon Dilatation Catheter is the smallest High Pressure PTCA Balloon in the world that can cross through lesions with ease and open up the coronary vascular pathway.

GL Ventures was set up by private equity heavyweight Hillhouse Capital to invest in emerging startups in February 2020. GL Ventures focuses on four areas: biomedicine and medical devices, software services and initiatives in tech innovations, consumer internet and technology, and emerging consumer brands and services.

Cathay Capital is a global investment platform specialized in cross-border development with a focus on Northern America, China, Europe, and Africa. The group identifies investment opportunities with the potential to impact the world and accompanies portfolio companies in their international expansion through its ecosystem of partners and the local expertise.