Corestone Bio Closes ￥10M Series A Financing

(VCBeat) Mar. 1, 2021 -- Corestone Biosciences (Beijing) Co., Ltd. ("Corestone Bio") recently announced the closing of a Series A financing of tens of millions. The funds raised will be mainly used for the operation of the wholly-owned subsidiary of Corestone Bio in Henan, including the construction and expansion of production, and the localized production of non-invasive dynamic breathing monitors and supporting disposable electrode sensors, so as to meet the domestic and international market demands.

Corestone Bio focuses on the development of innovative medical devices and is committed to becoming the world's leading medical device company in respiratory monitoring and acute pain management through cooperative innovation and international acquisition. This round of financing will accelerate the listing of the world's first non-invasive dynamic respiratory monitor to the Chinese clinical market.

Dr. Yang Wei Ping, founder and chairman of Corestone Bio, introduced that, the non-invasive dynamic respiratory monitor is the world's first product to provide the patients of non-endotracheal intubated anesthesia with precise and continuous lung ventilation monitoring, including real-time measurements of minute ventilation (MV), tidal volume (TV), respiratory rate (RR). At present, there are no other similar competitive products in the domestic market.

The CorespIron non-invasive dynamic respiratory monitor can measure MV, the most direct indication of respiratory function, and is suitable for preoperative assessment, intraoperative and postoperative real-time monitoring, post-anesthesia respiratory monitoring, neonatal and pediatric lung function monitoring, and respiratory monitoring of critical patients.

According to Dr. Yang, Corestone Bio's non-invasive dynamic respiratory monitor is expected to obtain the registration certificate for Class II medical devices from the National Medical Products Administration by the end of the first quarter of 2021, and be on the market in China in the second quarter of 2021. In the next step, Corestone Bio will quickly enter the domestic first - and second-tier cities' medical market by improving the construction of sales channels.