The funds will be used for the research and development of disposable endoscopes and other products, the construction of GMP (good manufacturing practice) workshops and the registration and certification of products.
Shenzhen Microlite Medical Technology (Chinese: 星辰海医疗) recently raised tens of millions of CNY from healthcare-focused VC firm Zhifeng Zhizi in an angel round.
Founded in 2020, Microlite is a medical technology company focusing on endoscopic interventional diagnosis and treatment. It aims to provide the world with overall solutions for endoscopic interventional diagnosis and treatment covering urology, breathing, digestion and other departments.
The founders of Microlite are all from domestic leading medical device companies and have rich experience in R&D, marketing and manufacturing of minimally invasive surgery. They have led the minimally invasive surgical endoscope business for more than four years from product planning to hundreds of millions of CNY in sales.
Endoscopic diagnosis and treatment is an important part of the non-vascular minimally invasive intervention, widely distributed in gastroenterology, urology, respiratory, otolaryngology, general surgery and gynaecology. The global disposable endoscope market size was valued at USD 528 million in 2020, and Frost & Sullivan, a global business growth consultancy, expects the market size to reach approximately USD 9 billion in 2030.
The replacement of repetitive endoscopes with disposable endoscopes will become an important trend per Microlite, considering the advantageous industrial chain and enhanced awareness of avoiding cross-infection. Meanwhile, all the key components of disposable electronic endoscopes have been localized.
At present, domestic disposable endoscope manufacturers are just beginning to develop, which has created an opportunity for Microlite to enter the industry.
“Surgery is gradually evolving to minimally invasive surgery. Endoscopes belong to the low-level tools of minimally invasive surgery, and have the significance of strategic layout. We are optimistic that Microlite will stand out in this track and become the world's leading disposable endoscopic diagnosis and treatment platform,” said the VC firm.
Microlite’s domestic competitors include Mindray (300760:SZ), Kangji Medical (9997:HK), Micro-tech (688029:SH), REDPINE and Happiness Factory Medical Equipment.