MicroTech Medical Announces RMB 575 Million New Financing to Advance Global Leadership in Diabetes Management Solutions

VCBeat(WeChat: vcbeat)MicroTech Medical Announces Completion of RMB 575 Million in New Financing RoundIt was learned that MicroTech Medical recently announced the completion of a new round of financing, totaling RMB 575 million. This round was co-led by Taikang Qianzhen Fund under Taikang Investment, Tencent, and IDG Capital, with participation from Everbright Holdings, CICC Pucheng, and Sanzheng Health, among others. Existing investors, including Qiming Venture Partners, Lilly Asia Ventures, Chende Capital, and Guofang Fund of Funds, continued to participate in the investment.

The funds raised in this round will be used to expand the production capacity of MicroTech Medical’s marketed product, the patch-type intelligent insulin pump, and to establish an automated production line for its upcoming product, the calibration-free continuous glucose monitoring system. MicroTech Medical will also continue to invest in the development of closed-loop artificial pancreas systems, the MicroTech Cloud blood glucose big data management platform, and next-generation blood glucose diagnosis and treatment products, as well as in the research and development of future key technologies and the construction of a global sales network.

MicroTech Medical, established in 2011 and headquartered in Hangzhou, Zhejiang, also operates an R&D center in Silicon Valley, bringing together technical elites from around the world. In the new era of rapid development in China’s technology and independent innovation, MicroTech Medical is committed to developing globally leading products and solutions for the diagnosis and treatment of diabetes. The company currently possesses core products in both therapeutic and diagnostic fields, all of which have obtained CE or NMPA approval and certification. Its independently developed innovative products, such as the patch insulin pump system and the calibration-free continuous glucose monitoring system, demonstrate performance at a world-leading level.

According to the 9th edition of the IDF (International Diabetes Federation) Diabetes Atlas, there are approximately 443 million adults aged 20–79 living with diabetes worldwide, and an additional 1 in 13 adults has impaired glucose tolerance. The Atlas also indicates that one in two adult diabetes patients remains undiagnosed; one in seven live births is affected by gestational diabetes; and the number of people with diabetes is projected to reach 700 million by 2045.

Dr. Zheng Pan, Founder and Chairman of MicroTech Medical, stated: “We are deeply grateful to the numerous investors for their strong support in this round of financing. Upholding our vision to become a global leader in diabetes monitoring and treatment devices, the company will leverage its advanced R&D capabilities and product portfolio to continuously deliver innovative, leading-edge products. We remain committed to improving the lives of nearly 400 million people with diabetes worldwide, enabling them to enjoy a better quality of life.”