Micro-ultrasound developer Exact Imaging said today that Chinese bio-tech company BioSciKin is investing $2.2 million (CDN $3 million) as a syndicate partner in Exact Imaging’s $15.8 million (CDN $20.7 million) round of fundraising to support its ExactVu tech designed for prostate cancer imaging..
The announcement was made during the Commercial Signing Ceremony as part of Prime Minister Justin Trudeau’s trade mission to China, the companies said.
“We are honored to have BioSciKin, a leading global medtech investor and significant entity in medical innovation in China, participate in our financing round. It is opportune that we get to acknowledge this joint Chinese – Canadian opportunity as part of Prime Minister Trudeau’s Trade Mission to China, which is seeking to solidify long term trade arrangements between our two countries,” CEO Randy AuCoin said in prepared remarks.
The investment closes Exact Imaging’s Series C round, which is being co-led by Lumira Capital and Vesalius Biocapital, with an expected closure early in the 4th quarter of this year.
“We believe that Exact Imaging’s ExactVu technology will be highly disruptive and in a market where there has been little innovation in the standard-of-care ultrasound imaging, we are confident that the ExactVu micro-ultrasound platform will help urologists globally foster in a new standard of care for prostate cancer imaging and detection. Investments in innovative medtech technologies, such as the ExactVu platform, are part of BioSciKin’s mission to defend human health with precision medicine,” Simcere Holding Limited prez Honggang Feng said in a press release.