Cryofocus Announces Completion of ￥100 Million Series B Funding Round

(VCBeat) Feb. 22, 2021 -- Recently, Kang Feng Biological ("Cryofocus"), a global platform company engaged in minimally invasive cryoablation, announced the closing of a Series B financing worth hundreds of millions of yuan, led by GL Ventures, with participation from Future X Capital, Ningbo Tongshang Venture Capital, Qingdao Conson Financial Holdings, Shenzhen Furong and the existing investor Proxima Ventures. Haoyue Capital acted as the sole financial advisor in the latest round. 

Cryofocus plans to use the funds for the application of clinical trials of the company's existing cryoablation and natural orifice translumenal products, new product development, and team expansion.

By the end of 2020, Cryofocus and Ningbo Senscure Biotechnology have completed a strategic merger, and Cryofocus, therefore, has become the world's leading company in minimally invasive cryoablation. Based on the leading ablation technology platform using liquid nitrogen, Cryofocus's products have the advantages of non-toxic and cold energy easy to obtain, efficient cooling, simple operation, better safety, and so on. The management team of the company has decades of operation and management experience in cardiovascular intervention and minimally invasive treatment via natural orifices. The R&D team works closely with clinical experts in various fields to deeply develop cryoablation technology and innovative medical devices.

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.

Futurex Capital was founded at the beginning of 2018 by Ms. Zhang Qian. It is a private equity investment platform focusing on investments in the age of intelligence and the big consumer industry in the middle and late stages.