February 6, 2024
Within the realm of neurotechnology, a domain marked by the intersection of innovative science and cutting-edge technology, numerous firms are leading the way in revolutionising aspects of healthcare, computing, and mobility. This article highlights three neurotechnology companies to watch based in Asia that are making waves in the industry: MicroPort Neurotech, Kai Medtech and Shenzhen Yinghe Brain Science.
MicroPort NeuroTech Ltd specialises in the neuro-interventional medical device sector, committed to offering innovative solutions for both physicians and patients. The company prides itself on an extensive range of therapeutic products that are approved for use. These products span the three primary areas of neurovascular disease: hemorrhagic stroke, cerebral atherosclerotic stenosis, and acute ischemic stroke.
On July 15th 2022, the company successfully launched its initial public offering (IPO) on the Hong Kong Stock Exchange, trading under the ticker symbol 02172, and raised HKD 337.57 million. The IPO involved the sale of 13,700,000 shares at a price of HKD 24.64 each. Following the offering, the company had a total of 582,658,100 shares outstanding, priced at HKD 24.64 per share, resulting in a market valuation of HKD 14.36 billion. Prior to this, on November 10th 2021, the company had sold a 6.79% stake to CICC Capital, Broad Vision Funds, and Biolink Capital China, garnering $118.74 million.
As a developer and supplier of medical devices, Kai Medtech specialises in creating products that aid in treating cerebrovascular diseases. It places a strong emphasis on the research and development of neurointerventional medical devices and offers comprehensive solutions aimed at enhancing patient care for cerebrovascular and neurological conditions.
On January 5th 2024, the company secured a substantial Series C venture funding amounting to hundreds of millions of CNY, with Shanghai Guoxin Investment spearheading the investment round and Wuxi Capital Group also contributing. The funds from this round are earmarked for the research and development of the company’s core interventional device technology and for expanding its commercialisation team. Previously, on February 1th 2022, the company had raised CNY 230 million in Series B+ venture funding, led by Lingang Sc-innovation Investment and Shenzhen Capital Group.
Shenzhen Yinghe Brain Science
Shenzhen Yinghe Brain Science specialises in developing therapeutic devices that utilise neuromodulation and brain-computer interface technology. Its products are crafted to meet clinical requirements, offering clients the latest in globally innovative technology.
On January 21st 2023, the company successfully secured over CNY 100 million in seed funding, with the round being led by Lilly Asia Ventures and Bioching Capital. Additionally, Snibe, Enlight Medical, 1896 Capital, and other investors also contributed to this round. Prior to this, on December 25nd 2022, the company had received an undisclosed sum in seed funding from investors including Snibe, Enlight Medical, Amygdala Scientific Limited, and Bioching Capital.
Published on 06-02-2024