Farmove Medical Completes ￥100M Series B Financing

(VCBeat) Feb. 2, 2021 -- On January 28, 2021, Farmove Medical announced the close of a Series B investment round of nearly 100 million yuan from Heze-based Yankuang Jingu Wenjing Fund. The funds raised will be mainly used towards the multi-center clinical trials of products self-developed by Farmove Medical, and the registration and marketing plan of degradable biomaterials.

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Farmove Medical is an innovative medical device company. The absorbable materials developed by Farmove Medical have strong ductility. With the materials technology as the core, the company has designed innovative products applied in various departments, including interbody fusion devices, biocomposite interference screws in the ligament, cranial and maxilla-mandibular fixation devices and other series. Among them, the first absorbable product in sports medicine has entered the clinical stage in 2020.

The biodegradable implant can be degraded and absorbed in vivo without the need for a second operation. With biological activity, it can accelerate and promote bone fusion. It can replace the traditional titanium alloy and PEEK materials and make up for the many defects of the traditional implant, which has become the trend of technology and clinical application.

Farmove Medical has developed a comprehensive and in-depth product line in the field of biodegradable biomaterials, covering the fields of the orthopedic spine, wound repair, sports medicine, maxillofacial surgery, neurosurgery, and others.

As the domestic leader in degradable biomaterials, Farmove Medical has established a 10,000-grade clean workshop conforming to the GMP standard. The company also built the first domestic platform for the R&D, manufacturing and testing of degradable materials and products for medical implant in line with ISO13485 with production capacity for commercialization.

In the future, Farmove Medical will continue to expand the application of biodegradable implants in related fields based on biodegradable biomaterials, so as to provide clinicians and patients with better choices of products.