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. It recently completed its Series B funding led by Legend Capital. Next came CD Capital, SAIF Partners and Chengwei Chuangban. Kaitai Capital and Lilly Asia Ventures, existing investors, also participated in this funding round.
This round of funding will be used to support the clinical research of ForQaly’s products so that transvalvular vaginal assist devices (VADs) can be afforded for patients who have urgent medical needs. 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, founder of ForQaly said that “for the past years, there were few clinical applications of the transvalvular vad in China. ForQaly is a national pioneer in this field and will make use of all its resources to support preclinical training and ensure quality product clinical research to gather reliable and evidence-based medical 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 been dedicated and hard-working in this industry for almost 6 years. They have launched many of the most successful products both here and abroad. We are pleased to be a partner with ForQaly Medical, and we will continue our long-term partnership 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. Legend Capital has also invested in many leading companies in this area, including Puyi Biotechnology and Reliable Med, StarSportMed and ET Healthcare. SH), New Horizon Health (06606.HK), Singular Genomics (NASDAQ: OMIC), etc.
Topic – Press release summary
Source: Legend Capital
Sectors: Daily Finance, Daily News, BioTech, Healthcare & Pharm, PE, VC & Alternatives
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