China-based medical device developer Symbow Medical has raised RMB120m ($17.7m) in a series A round that included pharmaceutical firm Shandong Buchang Pharmaceuticals, China Money Network reported today.
The round was led by investment fund Huayi Capital and also featured state-owned National Emerging Industry Guidance Fund and venture capital firm Sangel Capital. Symbow Medical has not revealed any previous funding rounds.
Founded in 2011, Symbow Medical has developed a surgical navigation device that reduces the risk of instrument displacement during breast cancer diagnosis or minimally invasive surgery, with tracking accuracy within two millimetres for the latter.
The device can be used in conjunction with either magnetic resonance or CT scans, and has a wider range of applications, from the planning of surgery and real-time monitoring to post-operative field effect assessment. The company has been granted more than 20 patents.