DeHeng Advised SceneRay on Series D+ Financing of RMB 300 Million

2022-02-23

Recently SceneRay Co., Ltd. announced the completion of its Series D+ financing of RMB 300 million, with Sequoia China and GL Ventures as the lead investors. This marks another successful fundraising after the completion of Round D financing of over RMB 100 million in April 2020, with Yanchuang Capital as the lead investor.  China Renaissance acted as sole financial advisor. 

Brain science is one of the most challenging areas of research, but mankind has never stopped trying to solve its mystery. In 2016, the Brain Science and Brain-Like Intelligence Technology Project was listed as a major scientific and technological project in China's 13th Five-Year Plan, and further in the 14th Five-Year Plan, it is listed as one of the seven frontier research projects. In recent years, with the iteration of communication networks, medical materials and chip technology, the boundary of disease treatment has been gradually blurred, and new ideas have popped up for the treatment of brain and nervous system diseases with implants. Committed to conducting brain science research based on medical scenarios and benefiting more patients with advanced medical technology, SceneRay has been leading the industry in innovation and research, and after years of DBS technology R&D, made major breakthrough in the treatment of Parkinson’s disease, drug addiction and so on.

The DeHeng team, with primary support from attorneys Chen Haixiang, Ge Xiaoxia and Hao Ze, on behalf of SceneRay, participated in document review and drafting, negotiation and closing follow-up of the transaction. The team worked closely and efficiently and provided professional legal services for the client. This is the second time for DeHeng to advise the client on financing after the latter’s completion of Series D financing from Yanchuang Capital as the lead investor. The DeHeng lawyers have rich experience in the capital market with respect to investment, financing and IPOs for clients in the biomedicine, intelligent manufacturing, semiconductor manufacturing, new materials and new energy sectors. We will continue to provide clients with efficient, quality legal services.