Wallaby Medical closes Series B+ round, raises hundreds of millions of yuan

Wallaby Medical announced the completion of its Series B+ financing round, raising raises hundreds of millions of yuan.

Wallaby Medical announced the completion of its Series B+ financing round, raising raises hundreds of millions of yuan.

This round was led by CITIC Medical Fund, with participation from existing investors Maison Capital, Qianhai FOF and Chang’an Capital.

Proceeds from this round of financing will be mainly used to promote the development of its global hemorrhage and ischemic stroke therapeutic product portfolio, strengthen its overseas market presence in Europe, America, Japan and South America, and support the company’s two ongoing clinical trials, laying a solid foundation for the certification and launch of its hemorrhage and ischemic stroke products in Chinese market in 2021.

Founded in 2016, Wallaby Medical is a medical technology company focused on neurointerventional areas, developing and manufacturing high-end innovative products for the treatment of international vascular diseases, and is committed to saving the lives of more stroke patients.

Based on the high prevalence of stroke in Asia and China as the market with the greatest demand for stroke care in the world, the company was founded with its headquarters and manufacturing base in Shanghai, China, and a wholly-owned research and development subsidiary (R&D center) in California, USA.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/14/wallaby-medical-closes-series-b-round-raises-hundreds-of-millions-of-yuan/.

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