China’s Symbow Medical reportedly raised $17 million (¥120 million) for the MR-safe surgical navigation platform it’s developing.
Huayi Capital led the investment in the Beijing based company, joined by the Chinese government’s National Emerging Industry Guidance Fund, Shandong Buchang Pharmaceuticals Co. and Sangel Capital, the China Money Network reported, citing a Symbow press release.
Symbow Medical’s device can be used with MR or CT equipment for two- or three-dimensional imaging and offers automatic tracking and calibration for minimally invasive breast cancer procedures, according to the website.
Some 40 foreign-made surgical navigation products were certified in China as of last November, CMN reported, with Brainlab leading the pack in accounting for 32.5% of the products; Medtronic (NYSE:MDT) and Stryker (NYSE:SYK) held 15% and 10% shares, respectively.
Symbow Medical was founded in 2011, the website reported.