Chinese medical instrument provider Peijia Medical has raised 700 million yuan ($100 million) in its Series C round from Matrix Partners China, Lilly Asia Ventures, Grand Flight, China SDIC Gaoxin Industrial Investment Corp and China Chengtong Holdings Group, per a company filing.
Return backer Matrix co-led the startup’s over 70 million yuan ($10 million) Series A round in 2016.
Set up in 2012, Suzhou-based Peijia operates in the area of heart valve disease treatment, besides developing interventional products related to neurological functions.
Peijia is targeting to roll out its first generation heart valve product Taurus One in 2020 while other products in the neurological areas will commence clinical trials.
The funding will be used for further advancement in research and development of medical devices and treatment services.