China-based neurovascular intervention product manufacturer Hemo has secured tens of millions of dollars in series B funding from investors including conglomerate Legend Holdings’ Legend Capital spinoff, VCbeat has reported.
Investment firm Hillhouse Capital led the round, which included venture capital firm 3H Health.
Founded in 2016, Hemo makes therapeutical equipment used for neurovascular, peripheral vascular and cardiovascular diseases such as ischemic and haemorrhagic strokes. Its distal access catheter product, TracLine, is used in numerous neurological procedures.
Hemo founder Wang Jicheng said in a statement the existing technologies and products in the Chinese neurological intervention market cannot fully meet the demands of medical professionals and patients in the country.
Zhou Zhen, managing director for Legend Capital, added that Wang is among the most successful entrepreneurs in the field of vascular interventional devices in China, and his new team will help further develop devices in the field of stroke and related diseases to benefit patients in the region.
