Forerunner Medical Snags ￥100M in Series B Financing

On September 3, 2020, according to VCBeat, Forerunner Medical (Shanghai) Co., Ltd ("Forerunner Medical"), a medical device company focusing on the development and production of innovative medical devices for minimally invasive treatment, announced that it had raised hundreds of millions in Series B funding round. This financing is led by a fund of CICC Capital, with participation from Cenova Capital, Apricot Capital, Dalton Venture and Huaxing Capital. This round of funds will be mainly used for the development, marketing, and commercialization of the products under research.

Founded in 2009, Forerunner Medical is a high-tech company located in the East of Zhangjiang Science City, Shanghai. It is mainly engaged in the R&D and production of products used in minimally invasive surgeries. Forerunner Medical has raised the Series A round of financing from Sequoia Capital China and Wuxi Healthcare Ventures, and a Series A+ round from Medtronic.

Based on two major technology platforms, Forerunner Medical has formed a comprehensive solution covering sports medicine and therapies of the spine, ear, nose, throat, tumor and other fields. Its diversity of products has exceeded that of other medical device companies in the same stage. These propriety products and technologies have reached the international top level. 

Furthermore, Forerunner Medical has reached strategic cooperation with TERUMO, an international medical device giant, in Europe.

CICC Capital is a wholly-owned subsidiary of China's first joint venture investment bank, China International Capital Corporation Limited (CICC). As the private equity investment fund under CICC, CICC Capital provides private equity investment fund services, including making private investment development strategy, promoting business, allocating resources and managing the risk.

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 and is one of the earliest investors in private healthcare services and digital health. Currently, Cenova Capital has five funds under management and invested in over 50 companies with a proven track record across three funds.