Fosun Pharma and Ping An were among the investors that are providing $30m for MitrAssist in a two-tranche round.

Fosun Pharma, the pharmaceutical subsidiary of conglomerate Fosun, has a $30m round for Israel-based valve implant developer MitrAssist that included insurance group Ping An, Calcalist has reported.

MitrAssist CEO Gil Naor told Calcalist the company has received $16m of the funding already and will get the remaining $14m when its product enters clinical trials, a development expected to take place in 2018.

Founded in 2009, MitrAssist is developing a valve implant to treat mitral regurgitation, a condition where the left valve…