Following Sequence A funding, Scivita Medical closes Sequence B funding of practically RMB 0.four billion to speed up globalization’s strategic course
HONG KONG, Aug 5, 2021 – (ACN Newswire) – Upon completion of Series A funding round with accelerating research and development and commercialization of endoscopy product, Scivita Medical Technology Co., Ltd. (“Scivita Medical”) announced today that the company has raised nearly RMB 0.4 billion in Series B financing, with new investors such as Hudson Bay Capital Management and Prime Capital and continued support from existing shareholders such as GL Ventures , Lilly Asia Ventures and Matrix Partners China. This round of funding will continue to be used for research and development, capacity expansion and the national and international marketing of innovative products in endoscopy and related areas.
Since its inception, Scivita Medical has viewed globalization as an important strategy and has set up R&D centers in Suzhou, China and Tokyo, Japan to encourage the simultaneous global research and development, patent application, registration and commercialization of its products, and strives for Establishment of a leading global platform for innovative products in endoscopy and related areas. The successful completion of this financing round fully reflects the recognition of the new investors and the existing shareholders for the future development potential and the expectation of a sustainable development of Scivita Medical.
Driven by factors such as the advancement of tiered treatment, the development of minimally invasive surgery, and the aging population, the market demand and configuration rate of endoscopes is increasing rapidly. Scivita Medical has a comprehensive line of products that includes both rigid and flexible endoscopes, reusable endoscopes, single-use endoscopes, white light endoscopes, fluorescent endoscopes, etc. Currently, Scivita Medical’s commercialized products include a 3D visualization system, a 4K UHD camera system and a 4K 3D camera system, 4K sinoscope, 4K arthroscope, single-use hystero-videoscope, single-use urology videoscope, single-use Broncho videoscope, etc. In the future, Scivita Medical will continue to bring new products to the market while promoting the simultaneous certification of related products in China, the United States, Japan, Europe and other countries and regions, and continue to promote the products in the world market .
Scivita Medical’s innovation was ahead of the market with an industry leading position, reflecting Scivita Medical’s R&D strength and confidence. Scivita Medical has leading edge global technologies including ultra high definition visualization technology (such as 4K UHD visualization), 3D visualization technology (including monocular 3D and binocular 3D), single use technology, special light visualization technology (such as fluorescence visualization), and ultra-fine endoscopic technology. In the future, Scivita Medical will also integrate the existing technologies into a diversified product matrix such as 4K fluorescence and 3D fluorescence.
Scivita Medical aims to solve clinical pain points through technological innovation and to develop high quality products that meet the needs of clinicians. In the development process of the 4K UHD visualization, Scivita Medical got to know the pain points of laparoscopy such as “endoscope fogging” or “smoke interference” through cooperation between medical staff and industry and successfully developed the function for heating the lens tip to avoid fogging due to temperature differences. The signal processing technology enables the one-key defogging function on the camera, which effectively removes smoke interference and improves the efficiency of the operation. In addition to the effective solution to the problem of cross-contamination, the single-use endoscopes developed independently by Scivita Medical also enable an image quality that reaches the standard of reusable endoscopes. In addition, Scivita Medical has fully taken ergonomics into account in the product development process and its single-use endoscopes not only allow the clinician to flexibly control with left and right hands, but also meet the needs of clinicians in various scenarios of standing or sitting diagnosis, reducing the fatigue of the Effectively alleviate clinic staff and improve diagnostic and treatment efficiency for the benefit of more patients.
With regard to image sharpness, color reproduction or usability, conductivity and introduction of the endoscope, the clinical evaluation of Scivita Medical’s products has reached an internationally first-class level. In recent years, most of the hospitals selling Scivita Medical’s products in China have been the tertiary hospitals represented by domestic tertiary grade A hospitals, and the products are on par with great in terms of product quality and effect international branded products. In addition to the strategic goal of manufacturing high-end products from China, Scivita Medical will also launch generic endoscope systems for hospitals at all levels on the market and support hospitals at all levels with top-quality products.
Scivita Medical will continue to implement the strategy of globalization, deepening the focus on clinical needs and pain points, and working with global clinical experts to advance the development of the endoscopy industry and improve the level of safety, effectiveness and accuracy of treatments that patients receive benefit all over the world.
Source: Scivita Medical Technology Co., Ltd
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