Shanghai-based REMD, a leading manufacturer of irreversible electroporation devices, has reportedly raised over RMB 100 million (USD 14.54 million) in a Series A+ financing round. The round was led by Silicon Paradise Asset Management, with additional investments from DT Capital Partners and Qianzhan Investment. The proceeds will be used to accelerate the development and innovation of REMD’s products in areas such as prostatic hyperplasia, electrophysiological atrial fibrillation, and liver cancer.
REMD’s Technology and Market Position
Founded in 2016, REMD offers a compound steep pulse treatment product, which is touted as the first application of irreversible electroporation (IRE) technology in prostate cancer globally. This technology is a significant advancement in the field of oncology, as it destroys cancerous tumors using short electric pulses without the need for thermal heat. The main advantage of IRE is its ability to target tumors near critical body parts without damaging healthy organs or tissue, making it a safer and more effective treatment option.
Regulatory Milestones and Future Outlook
REMD’s pulse electric field ablation equipment was awarded fast-track status in China in July 2022, highlighting the regulatory recognition of its innovative approach to cancer treatment. With the new funding, REMD is poised to expand its product layout and continue innovating in the treatment of prostatic hyperplasia, electrophysiological atrial fibrillation, and liver cancer. This expansion will further solidify REMD’s position as a leader in the development of advanced medical devices for the treatment of complex medical conditions.-Fineline Info & Tech
