Wallaby Medical Completes ￥100M Series B+ Round of Financing

According to VCBeat, on August 11, 2020, Shanghai-based Wallaby Medical Technology Co., Ltd ("Wallaby Medical") announced the completion of a Series B+ financing of hundreds of millions. Proceeds from the latest round will be mainly used to promote the development of Wallaby Medical’s product portfolio of ischemic stroke and bleeding, expand the business in Europe, the United States, Japan, South America and other overseas markets, support the two ongoing clinical trials to lay a solid foundation for product listing of hemorrhage and ischemic stroke in 2021 in the domestic market.

This round of financing is led by CITIC Medical Fund, with additional investment from existing shareholders, Maison Capital, Qianhai Fund of Funds and Chang'an Capital.

Wallaby Medical is an exciting, rapidly growing medical device company focused on developing and commercializing medical device products for treating stroke. It was established in 2015 and now has over 90 employees located in our offices in Laguna Hills, California and Shanghai, China.

Wallaby Avenir^® Coil System, the first product of Wallaby Medical, is a technically differentiated neuro embolic coil system for treating intracranial aneurysms and other neurovascular abnormalities. Avenir^® is now FDA 510K cleared, CE marked, and Japan PMDA approved and is selling in over 10 countries. The company also has several other advanced products currently under development.

In addition to Avenir^®, Wallaby Medical has also developed a thrombus aspiration catheter. At present, the intracranial thrombus aspiration catheter is applying for FDA and CE certification in the United States, and clinical trials have been started in Xuanwu Hospital in China. The intracranial thrombus aspiration catheter is another heavyweight product of the company, which enriches its pipeline in the field of interventional treatments in the brain, and has also greatly improved its technical strength and brand image.

Establish in 2004, Maison Capital is a private equity firm that specializes in early to growth-stage investments in consumer lifestyle, consumer service, and consumer-oriented technology. 

Founded in 2015 and headquartered in Shenzhen, China, Qianhai Fund of Funds is a fund management company that markets qualified investors in the private equity investment industry. Qianhai Fund of Funds comes from four types of LP's such as local governments, well-known companies, insurance financial institutions, and a number of listed companies and well-known corporate controllers.