Chinese medical devices maker EnChannel Medical has closed an oversubscribed Series B financing at 600 million yuan ($83.1 million), jointly led by Dragonball Capital and existing investor Lilly Asia Ventures (LAV), to fuel its growth in China and globally.
Headquartered in Guangzhou in southern China with an R&D subsidiary in Irvine, California, EnChannel received continued support from Chinese biomedicine-focused investment firm Lapam Capital in its latest round, according to a company statement.
The Series B round came within two years after LAV and Lapam Capital led a Series A round of 200 million yuan ($27.7 million) in the startup.
With the latest financing, EnChannel will accelerate its development of electrophysiology products targeting the treatment for patients with heart rhythm disorders known as atrial fibrillation (AF). The fresh capital will allow the startup to advance clinical registration trials both in China and internationally.
Founded in 2020 by a team of seasoned electrophysiology innovators from the US and China, EnChannel is developing a holistic platform that unifies magnetic-impedance navigation, intracardiac echocardiography, full-chamber 5D action-potential mapping, and mid-voltage (<1000 V) pulsed-field ablation to deliver safe and personalised treatment for patients with AF.
“EnChannel’s platform integrates full-chamber action-potential mapping with pulsed-field ablation to address long-standing unmet needs in atrial fibrillation treatment,” EnChannel co-founder and CEO Feng Jun said in the statement.
The startup completed the Series B round shortly after achieving “encouraging early clinical data” from its ongoing studies, according to Feng. It showcased its first-in-human clinical results at the Heart Rhythm Society Meeting in San Diego, the US, in late April.
