On 8 June, Suzhou, China-based MedEdge Innovations officially announced the completion of nearly RMB 100 million in Series A financing led by Tsingsong Capital, followed by Lanhu Capital, Sequoia China and Hanchi Capital.
The funds will be used for research and development of ePTFE (expanded polytetrafluoroethylene) medical material and ePTFE-based interventional medical devices in the areas of peripheral vascular, interventional oncology and vascular access.
Established in February 2021, MedEdge Innovations has 5,400 sqm of R&D manufacturing and administrative office space at its headquarters in Suzhou, a 1,300 sqm R&D centre in Shanghai and an Innovation Technology Centre in Southern California, USA.
In May 2023, MedEdge Innovations initiated the construction of the second phase of its clean plant, which will be used primarily for the production of medical implantable grade ePTFE tubing and membranes, as well as laminate medical device products.
MedEdge Innovations has formed a strong US-China technical team to work on the domestic replacement of medical implantable grade ePTFE, and is also developing a series of laminated stents and dialysis artificial blood vessels with international intellectual property rights.