China Shenzhen-based Biotyx Medical has closed over 200 million yuan ($27.2 million) Series B Financing invested by Gongqingcheng Huayi, GF Qianhe, IDG, and Shanghai Baoquan Investment, for research and development, clinical trials, commerlization, and talent acquisition.

Founded in May 2019 as a spin-off from Lifetech Scientific Company (01302.HK), Biotyx Medical focuses on the research and development of iron bioabsorbable vascular materials and vascular scaffolds, with a total of 1840 square meters for research, production and offices.

Biotyx Medical is the only company in the world engaged in the research and development of iron-based bioresorbable scaffolds, and its world’s first iron-based bioresorbable material platform has a wide range of applications and potential in the medical field. Biotyx has successfully developed several fully degradable iron-based bioabsorbable scaffolds, which have been applied in many areas such as coronary artery disease, paediatric pulmonary stenosis and infrapopliteal artery stenosis.

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