Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Legend Capital Leads ForQaly Medical's Series B Financing

HONG KONG, Oct 8, 2021 - (ACN Newswire) - ForQaly Medical (hereinafter referred to as "ForQaly"), located in Shanghai Zhangjiang International Medical Zone, is a leading high-tech company focused on developing micro-traumatic circulatory assistant devices. Recently, it completed its Series B fundraising led by Legend Capital, followed by CD Capital, SAIF Partners, Chengwei Chuangban and Co-win Ventures. Existing investors Lilly Asia Ventures and Kaitai Capital also participated in the funding round.

This round of financing will be applied to promote the clinical research of ForQaly's existing products, so that the transvalvular ventricular assist devices (VAD) could be affordable for patients with urgent needs as early as possible. On the other hand, the capital will go for the expansion of ForQaly's research team to accelerate the parallel development of products, so that potential comprehensive solutions could be provided for high-risk PCI intraoperative protection and cardiogenic shock treatment.

Mr. Tang Zhirong, the founder of ForQaly, said: "For the past years, the clinical applications of the transvalvular VAD was uncommon in China. ForQaly, as a domestic pioneer in the field, will make full use of its resources to support pre-clinical training and ensure the quality of product clinical research, so as to collect reliable and evidence-based medicine data."

Joe Zhou, the Managing Director of Legend Capital, said: "VAD, especially the interventional one, has a huge market prospect in China. ForQaly's senior management team represented by Mr. Tang has dedicated and hardly-worked in this field for nearly 6 years with leading products launched both at home and abroad. We are glad to partner with ForQaly Medical and will establish a long-term cooperation with the company.

Legend Capital has long focused on its investment in medical devices and diagnostics, among which many portfolio companies have successfully went public at home and abroad, such as KingMed Diagnostics (603882.SH), Berry Genomics (000710.SZ), EasyDiagnosis (002932.SZ), Axonics (AXNX), CareRay Digital Medical (688607.SH), New Horizon Health (06606.HK), Singular Genomics (NASDAQ: OMIC), etc. In addition, Legend Capital has invested in a lot of leading companies in subdivisions of this field, such as Puyi Biotechnology, Reliable Med, StarSportMed, Genext, ET Healthcare, GKHT Medical Technology, GensKey, Best Brain Health, Bioheart, HeMo, Shanghai Aohua and Berry Oncology.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>