HK Stock Market Move | VENUS MEDTECH-B (02500) surged over 13% in the afternoon as invested company Pi-Cardia received a strategic investment of $80 million from Medtronic.
Qiming Medical-B (02500) rose over 13% in the afternoon. As of the time of writing, it increased by 13.24%, trading at HKD 1.155, with a transaction volume of HKD 2.439 million.
VENUS MEDTECH-B (02500) rose over 13% in the afternoon. As of the time of publication, it increased by 13.24%, trading at HKD 1.155 with a transaction volume of HKD 2.439 million.
In other news, Qiming Medical participated in a $10 million investment in the Israeli medical device company Pi-Cardia, which announced it has received a $80 million strategic investment from Medtronic. Upon reaching certain milestones, Medtronic has the right to acquire Pi-Cardia for a consideration not exceeding $210 million.
According to the agreement, Medtronic will obtain the global exclusive commercial distribution rights for the ShortCut product and will leverage its global structural heart disease business network to comprehensively promote the ShortCut product in the U.S., Europe, Japan, and other international markets. This collaboration marks the entry of the Shortcut product into an accelerated phase of global commercialization and will further solidify Pi-Cardia's position as an innovative leader in the field of structural heart disease.
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