Q3 Medical Financing Agreement to Support Product Development and Commercialization
March 15, 2017—Q3 Medical Devices Limited announced that it has entered into an €28.3-million investment agreement with Boill Holding Group of Shanghai, China. The investment will support Q3’s product development pipeline, commercial sales initiatives, and manufacturing expansion for the company's microinvasive, bioresorbable, and drug-delivery platforms.
Q3 Medical Devices is a holding company headquartered in Dublin, Ireland, with operations in Germany, the United States, and China. The company is focused on the development, manufacturing, and distribution of minimally invasive devices for the treatment of patients with coronary, peripheral vascular, and nonvascular diseases.
According to the company, the Q3 microinvasive technology minimizes the size of the openings needed for operation and its bioresorbable products platform has the potential benefit of reduced complication rates and the elimination of costly removal procedures. The company has submitted the first two of five planned bioresorbable implants for CE Mark approval.
Q3 Medical Devices was formed through a 2013 merger of an implantable device contract manufacturer, QualiMed Innovative Medizinprodukte GmbH, and an interventional cardiology and peripheral vascular device company, AMG International GmbH.