LenoMed Announces ￥100 Million Series C Financing

(VCBeat) May. 12, 2021 -- Kailian Medical Technology (Shanghai) Co., Ltd. ("LenoMed"), a leading domestic R&D company of micro-drug infusion technology, recently announced the closing of a Series C financing of over RMB100 million, led by Oriental Fortune Capital, with participation from Unifortune and the existing investor Eight Roads. Ruiling Capital acted as the financial advisor in this round of financing.

In less than 5 years, the senior team with nearly 20-year experience of in the medical, engineering, and marketing services, has developed the closed-loop system meeting the demands of patients with chronic diseases. Based on its own micro-drug infusion and control technology as the core, combined with biological sensors and medical technology, LenoMed has expanded the development strategy and cast a high industry barrier in the field of diabetes and medical devices of endocrinology.

At present, LenoMed has successfully built five core product pipelines, covering blood glucose management and drug infusion for diabetes, pituitary drug infusion, life management of chronic disease, cloud management platform and micro-drug transdermal technology. Some of its products have been successfully approved by the state and marketed to meet the drug and disease management needs of customers.

Founded in 2006, OFC manages 42 funds with an AUM of more than 20 billion yuan. OFC invests in small and medium-sized growth-oriented companies. Its funds cover five industries: Telecommunication, Media & Technology (TMT), Green Technology, New Material & Advanced Manufacturing Technology, Healthcare, and Entertainment & Consumption. The company invests in various business development stages through the angel, venture capital, and private equity investment vehicles.

Since 1969 Eight Roads have been partnering with ambitious technology and healthcare founders from all across the world. Its global venture platform is one of the largest in the world, with teams investing in Asia, Europe, Israel and the US. With over 25 years of venture capital experience in China and has invested in more than 110 companies in the healthcare sectors. In the last 10 years, It has invested nearly $6 billion in startups worldwide.