Realton Corporation, a Chinese developer of diode-pumped laser systems initially targeted to treat enlarged prostate, closed its Series B financing. The funding round, whose amount remained undisclosesd, was co-led by OrbiMed Advisors and China Healthcare Partnership (CHP, a fund under Martin Currie Asset Management Group). Existing investor CSV Capital Partners will also participate in the financing.
The capital infusion will be used primarily to enhance the company’s marketing and distribution networks, expand its manufacturing capabilities and pursue new technology development.
Realton’s laser system is an alternative to traditional TURP surgery, delivering comparable results with reduced bleeding, shorter hospital stays, and fewer complications.
Surgery for enlarged prostate, also known as benign prostatic hyperplasia (BPH), is the second most common operation for men over 60 years old worldwide. As China and other developing countries populations are aging, an increasing number of elderly men are suffering from BPH. The prevalence of BPH in China has already exceeded 30 million people, with approximately 300,000 surgically treated annually and growing.
In connection with this funding, Dr. Nancy T. Chang, Chairman and Senior Managing Director of OrbiMed’s Caduceus Asia Partners Fund, and Vicky Chen, Partner of CHP, will join the board of Realton Corporation.
Registered in the Cayman Islands, the company is headquartered and has manufacturing facilities in Beijing, and a subsidiary in Suzhou, China.
FinSMEs
29/04/2010