Shenzhen-based chronic disease device maker Sibionics has reportedly raised close to RMB 500 million (USD 71.7 million) in a Series D financing round. The round was led by Shanghai Healthcare Capital and Guangdong Traditional Chinese Medicine Healthcare Fund, with contributions from Industrial Securities Capital, Next Capital, and China New Town Development. The proceeds will be used for market development, fully automatic production line expansion, new product development, and international operation layout.
Company Background and Achievements
Founded in 2015, Sibionics boasts a “high precision sensor process platform,” “system on chip design platform,” and “artificial intelligence algorithm research and development platform.” The company’s major programs include a continuous glucose monitoring system (CGM), artificial intelligence-aided diagnosis software for diabetes retinopathy (DR Screen), artificial retina, and capsule gastroscope robot. Its in-house developed “silicon-based dynamic continuous glucose monitoring system” is the first approved finger-free blood calibration CGM product in China, which has been applied in over 800 hospitals since its market launch at the end of 2021.
Future Prospects and Strategic Use of Funds
The Series D financing round positions Sibionics to further enhance its market presence and expand its product offerings. By investing in market development, production line expansion, and new product development, Sibionics aims to address significant unmet medical needs in chronic disease management and improve patient outcomes through innovative device solutions.-Fineline Info & Tech
