Medcance Completed Millions of Euros in Additional Series A Financing, Led by Evonik

Medcance has completed millions of euros in additional Series A Financing, led by Evonik Venture Capital (Evonik) and followed by Morningside Venture Capital, Puhua Capital, and Zhongnuo Venture Capital.

Founded in Shanghai, Medcance is a medical 3D printing technology start-up in China that makes neurosurgery and spinal surgery implants through 3D printing. The company's technology can speed up patients' recovery, reduce the number of postoperative examinations and the risk of surgery.

Medcance has developed a hardware and software system that can read and process images directly from conventional magnetic resonance imaging (MRI) or computed tomography (CT) equipment. The system then generates a 3D model and sends it to the printer. Finally, the printer uses polyether ether ketone (PEEK) material of Evonik to produce the implant through 3D printing technology.

“Medcance’s technology will directly help us further develop materials in additive manufacturing," said Thomas Grosse-Puppendahl, the head of innovative growth in additive manufacturing of Evonik. "Those materials in medical applications are very attractive. Our high-performance polymers have proven to be a reliable implant material for other applications, including dentistry."

Evonik Venture Capital is the corporate venture arm of Evonik Industries AG, one of the providers of specialty chemicals. Evonik Venture Capital invests in young companies with innovative technology and high growth potential in the field of specialty chemicals, companies with solutions to problems within the megatrends, resource efficiency, health and nutrition, and globalization.

Morningside is one of China’s earliest early-stage venture investors with around 1.7 billion dollars under management including four USD funds and one RMB fund, from the commitment of sovereign wealth funds, family offices, university endowments, and so on. With a team that has worked together for nearly 20 years, Morningside continues discovering, supporting, and encouraging entrepreneurs, with whom there is a shared vision.