China-based eye disease treatment technology company Chaomu Technology (Beijing) Co., Ltd reportedly raised close to RMB 100 million (USD 14.3 million) in a Series A+ financing round led by InnoStar Capital. Mingheng Industrial Investment and Zhongzhi Zhonghe Technology Consulting Center also took part in the funding, proceeds of which will go towards a clinical study for its first-in-class electric regulation product for nystagmus, research and development (R&D) of next-generation implantable medical chips, and R&D of myopia correction products.
Company Background and Product Pipeline
Founded in 2018, Chaomu provides high-tech medical devices and treatment solutions targeting difficult eye diseases. The company boasts a rich product pipeline consisting of an implantable ocular muscle nerve stimulator, myopia treatment equipment, an implantable glaucoma micro-drainage device, an implantable adjustable focal length intraocular lens, and a strabismus diagnosis and treatment integrated machine. Among them, the implantable ophthalmic muscle nerve stimulator, touted as the world’s first and only product that can cure congenital nystagmus, is expected to enter the clinics within this year.-Fineline Info & Tech
