(VCBeat) Apr. 26, 2021--On April 26, Hygea Medical Technology Co., Ltd. ("Hygea Medical") announced that it had completed a Series C financing of 500 million RMB, led by China Growth Capital, with participation from China Reform State-Owned Enterprise Operation Investment Fund, Sinopharm Capital, BioTrack Capital, Grand Flight, Sharewin Investment, and Potential Capital. SenseTime, a leading artificial intelligence company, also invested in this strategic investment.
After the closing of this round, Hygea Medical will accelerate the market and sales channel construction of its core product—Kangbo Knife, further promote the artificial intelligence application in minimally invasive surgical treatment for tumors and the research of each product line, and develop the medical platform technology applying in ablation at low temperature for atrial fibrillation treatment.
Hygea Medical is one of the state-level high-tech enterprises, providing the research and development, production and sales of medical products and focusing on the development of innovative medical products for cancers with minimally invasive and low-temperature technology. Hygea Medical uses leading biomedical engineering technology and advanced intelligent instrument and equipment manufacturing and has successfully developed the minimally invasive cryotherapy system for complex tumors.
Based on its experience in the fields of low temperature and minimally invasive technology targeting cancers, Hygea Medical is committed to developing innovative medical technology in the direction of national strategy. The company is going to make a series of advanced solutions in the field of minimally invasive cancer diagnosis and treatment. The company takes "we only care about your health" as the belief and “climbing the peak of technology in the world, improving China's medical industry" as the mission, striving to become cancer diagnosis and treatment industry leader in China or even the world.
Compared with traditional cancer treatments, by adopting the minimally invasive method in percutaneous intervention causing physical damage of tumor tissues, Kangbo Knife, integrates the advantages of deep cryogenic ablation and high-temperature heat treatment and realizes the temperature range from 196 ℃ to 80 ℃ in the same microprobe. It breaks the previous limitation of either cryotherapy or high-temperature heat treatment alone.
About China Growth Capital (CGC)
CGC is a China-focused seed and early venture investor since 2006. The firm funds seed to Series B in enterprise software and services, frontier technologies, marketplace, and consumer sectors. The typical investment size ranges from $1M to 5M with a hard cap ceiling at $15M per company. CGC manages 8 Billion RMB (approximately $1.2 billion) across its different RMB and USD funds.
About BioTrack Capital
Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on building and incubating innovative life science companies in China. The company focuses on innovative biotech companies, innovative MedTech companies, and innovative business models in healthcare which are led by outstanding entrepreneurs.