Shenzhen Core Medical Technology Co., Ltd, a leading Chinese manufacturer of artificial hearts, has reportedly raised nearly RMB 200 million (USD 29.1 million) in a Series C+ financing round. The round was led by Loyal Valley Capital, with participation from Greenwoods Asset, highlighting the strong investor confidence in Core Medtech’s innovative medical devices.
Company Background and Product Innovation
Founded in 2016, Core Medtech has developed an in-house next-generation ultra-small all magnetic levitation artificial heart, Corheart 6. This device is self-described as the world’s smallest and lightest implantable left ventricular assist device. The Corheart 6 stands out in the medical device market for its potential to revolutionize heart failure treatments.
Clinical Trial Success
A clinical trial for the Corheart 6, which involved the enrollment and follow-up of 50 patients from January to October 2022, has shown excellent results. The trial demonstrated a significant improvement in heart function three months post-surgery, underscoring the effectiveness of Core Medtech’s artificial heart technology.
Conclusion
The successful Series C+ financing round for Shenzhen Core Medical Technology Co., Ltd is a testament to the company’s groundbreaking work in the field of artificial hearts. With the support of Loyal Valley Capital and Greenwoods Asset, Core Medtech is well-positioned to continue its development and potentially transform the treatment of heart diseases with its innovative Corheart 6 device.-Fineline Info & Tech