MicroMedTec Announces ￥100M Series A Financing

(VCBeat) Feb. 22, 2021 -- Shanghai Micro Medical Technology Co., Ltd. ("MicroMedTec"), which focuses on the R&D of innovative neurointerventional devices, today announced closing a Series A financing round of over 100 million yuan. The latest round was led by GL Ventures with participation from Jisu Capital and Zhongxin Innovation Capital. The investment will enable MicroMedTec to accelerate the further development of neurointerventional products and promote the clinical trials and registration of "MeshCoil", the first vascular plug for aneurysm in China.

Previously, MicroMedTec received investments in the angel round in November 2018, and tens of millions of yuan in the Pre-A round from Chende Capital in January 2020.

MicroMedTec is a medical equipment company that develops interventional treatment products for cerebrovascular diseases. The company focuses on minimally invasive treatments and is committed to providing new solutions for cerebrovascular patients. At present, it has developed "MeshCoil" for minimally invasive interventional therapy of intracranial hemorrhagic aneurysms.

MicroMedTec's self-developed "MeshCoil" has entered the registration of clinical trials and the studies are going to be conducted in 10 hospitals, including Beijing Xuanwu Hospital. The company also has several innovative neurointerventional devices in various stages of development.

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.

Jisu Capital, founded in 2016, is a venture capital firm focusing on the domestic healthcare industry in China. With the guidance of "love innovation and create value", the company has invested in such excellent enterprises as Venus Medtech,Broncus, Valgen Medtech, and so on. In the future, Jisu Capital will continue to focus and look forward to creating value for more portfolios and growing together with entrepreneurs.