Scivita Medical Completes Series B Financing of Nearly RMB0.4 Billion

HONG KONG, Aug 5, 2021 - (ACN Newswire) - Following the completion of series A round financing, with the acceleration of the research and development and commercialization of endoscopy products, Scivita Medical Technology Co., Ltd. ("Scivita Medical") announced today that it has received nearly RMB0.4 Billion in Series B financing, with new investors such as Hudson Bay Capital Management and Prime Capital, as well as continuous support from existing shareholders such as GL Ventures, Lilly Asia Ventures and Matrix Partners China. This round of financing will continue to be used for research and development, capacity expansion, and domestic and international commercialization of innovative products in endoscopy and related fields.

Since its inception, Scivita Medical has taken globalization as an important strategy and has set up R&D centres in Suzhou, China and Tokyo, Japan to promote simultaneous global R&D, patent application, registration and commercialization of its products, and strives to build a global leading platform for innovative products in endoscopy and related fields. The successful completion of this round of financing fully reflects the recognition of the new investors and the existing shareholders for the future development potential and the expectation of the sustainable development of Scivita Medical.

Driven by factors such as the promotion of graded treatment, the development of minimally invasive surgery and the ageing population, the market demand and configuration rate of endoscopes are rising rapidly. Scivita Medical has a comprehensive product line covering both rigid and flexible endoscopes, reusable endoscopes, single-use endoscopes, white light endoscopes, fluorescent endoscopes, etc. Currently, Scivita Medical's commercialized products include 3D Visualization System, 4K UHD Camera System, 4K-3D Camera System, 4K Sinoscope, 4K Arthroscope, single-use Hystero Videoscope, single-use Urology Videoscope, single-use Broncho Videoscope, etc. In the future, Scivita Medical will continue to launch new products while promoting the simultaneous certification of related products in China, the United States, Japan, Europe and other countries and regions, and continue to promote the products to the global market.

Scivita Medical's innovation has been ahead of the market with an industry-leading position, which reflects Scivita Medical's R&D strength and confidence. Scivita Medical has global cutting-edge technologies, including ultra-high-definition visualization technology (such as 4K UHD visualization), 3D visualization technology(including monocular 3D and binocular 3D), single-use technology, special light visualization technology (such as fluorescence visualization), and ultra-fine endoscopic technology. In the future, Scivita Medical will also integrate the existing technologies to form a diversified product matrix such as 4K fluorescence and 3D fluorescence.

Scivita Medical aims at solving clinical pain points through technological innovation and developing high-quality products that suit the needs of clinicians. For example, in the development process of4K UHD visualization, through cooperation between medical staff and the industry, Scivita Medical learned the pain points in laparoscopy such as 'endoscope fogging' or 'smoke interference', and successfully developed the lens tip heating feature, effectively avoiding fogging caused by temperature differences. The signal processing technology enables the one-key fogging removal function on the camera, which effectively removes smoke interference and improve the efficiency of surgery. In addition to effectively solving the problem of cross-contamination, the single-use endoscopes independently developed by Scivita Medical also enables the image quality to reach the standard of the reusable endoscope. In addition, Scivita Medical has fully considered the ergonomics in the product development process, and its single-use endoscopes not only allow clinicians to control flexibly with both left and right hands but also meet the needs of clinicians in different scenarios of standing or sitting diagnosis, effectively alleviating clinicians' operational fatigue and improving diagnosis and treatment efficiency for the benefit of more patients.

In terms of imaging clarity, colour reproduction, or operability, conductivity, and insertion of the endoscope, the clinical evaluation of Scivita Medical's products have reached the international first-class level. In the past few years, most of the terminal hospitals where Scivita Medical's products are sold in China are the tertiary hospitals represented by domestic tertiary Grade A hospitals, and the products are on par with major international brand products in terms of product quality and effect. In the future, in addition to insisting on the strategic goal of making high-end Made-in-China products, Scivita Medical will also launch generic endoscope systems for hospitals at all levels, and benefit hospitals at all levels with products of international leading level.

In the future, Scivita Medical will continue to implement the strategy of globalization, deepen its focus on clinical needs and pain points, and work together with global clinical experts to promote the development of the endoscopy industry and enhance the level of safety, effectiveness and accuracy of treatments, thereby benefiting patients around the world.

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