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.
Crossject advances paediatric development of ZEPIZURE Junior for epilepsy crisis management
Creo Medical secures FDA clearance for SpydrBlade Flex in US market
Tissue Regenix secures CE and UKCA certifications for OrthoPure XT
Terumo Corporation expands stroke portfolio in EMEA with SOFIA Flow 88 catheter launch
Crossject advances ZENEO manufacturing with scalable aseptic filling module ahead of product rollout
ZYLOX Unicorn Vascular Closure Device approved in Indonesia
Mindray unveils BeneVision V Series at Euroanaesthesia 2025, advancing precision monitoring
Unicon Pharma and VRR Life Sciences partner support digital transformation in life sciences
Median Technologies submits 510(k) application for eyonis LCS lung cancer screening software