Ankon Technologies, developer of a capsule-based gastric cancer diagnostics system, has received funding from investors including SoftBank's Chinese CVC subsidiary.
China-based oncological diagnostics system developer Ankon Technologies has secured $100m in funding from investors including SBCVC, a corporate venturing vehicle for telecommunications group SoftBank, China Money Network reported today.
SBCVC, SoftBank’s China-focused fund, was joined in the round by Dazhong Investment, Youshi Capital and Tongsheng Capital.
Founded in 2008, Ankon has created a capsule endoscopy device that diagnoses gastric cancer at an earlier stage in order to increase a patient’s chances for survival.
The NaviCam system, which has received regulatory approval in China, involves a patient swallowing a capsule that collects images of their digestive system as it travels through their body. It can reportedly complete a gastric examination painlessly within 15 minutes.
Ankon plans to use the funding to move into new markets and develop diagnostics systems for other diseases.
SBCVC invested a five-figure dollar amount in the company in February this year, according to China Money Network, but the company has not disclosed any earlier funding.
