Life science investment firm Ally Bridge Group (ABG) stated on Wednesday that it plans to form a three-way joint venture (JV) in China through agreements with LifeTech Scientific Corporation (SEHK:1302), a medical device company in China, and French surgical robotics company Quantum Surgical.

The newly formed JV will focus on the R&D and commercialisation of Quantum Surgical's integrated surgical robot platform in China for interventional oncology, with the first target indication being liver cancer. China represents more than 50% of the world's incidence of liver cancer.

ABG made a Series A investment in Quantum Surgical in 2018, in which LifeTech also participated through its existing partnership with ABG. ABG initiated and led the design and formation of the JV, where LifeTech is the majority shareholder and responsible for the setup and operation of the China JV, including contributing market know-how to expedite product approval and commercialisation in the country.

LifeTech Scientific Corporation focuses on the manufacturing and sale of minimally invasive interventional medical devices.

Founded in 2017, Quantum Surgical is a next-generation surgical robotics start-up and is building next-generation smart tools for minimally invasive therapies, beginning with interventional oncology. The robotic platform will enable physicians to better assess, plan and treat a broad spectrum of medical conditions.