QT Vascular secures US$12m convertible bond funding

Singapore

QT Vascular, a developer of minimally invasive products for the treatment of vascular diseases, has entered into an agreement with private equity fund ICH Gemini Asia Growth Fund and three individual investors for a US$12 million convertible bond investment.

This funding will allow QT Vascular to focus more resources on further developing its drug-coated Chocolate angloplasty balloon platform, which lowers acute trauma and is used to treat patients' coronary arteries, the group said in a statement.