China-based high-end interventional device maker Shanghai Weimu Medical Technology Co., Ltd has reportedly raised “tens of millions” of renminbi in a pre-Series A+ financing round. The round was led by Woyong Fund. The proceeds will be used to accelerate the clinical development of core pipelines, marking a significant step in the company’s growth strategy.
Use of Proceeds
The funds raised will be directed towards ramping up the clinical development of Weimu Medtech’s core pipelines. This includes advancing several medical products that have already been introduced into clinical trials, such as varicose closure glue and drug-loaded tumor embolization microspheres. The company aims to enhance its market position by bringing these innovative solutions to patients in need.
Company Background and Achievements
Weimu Medtech, backed by IDG Capital in a pre-Series A financing round in May of last year, has made significant progress in introducing new medical products. The company has also initiated a multi-center clinical study for its poly (L-lactic acid) (PLLA) filler microspheres product. These efforts highlight Weimu Medtech’s commitment to innovation and improving patient outcomes through advanced interventional devices.-Fineline Info & Tech
