Haiyin Capital, a China VC, has made a $5 million investment in the C funding round of Cerevast Therapeutics. Seattle-based Cerevast is currently shepherding its acoustic medical device through a Phase III trial for treatment of ischemic stroke. According to Forbes, when Cerevast’s CEO was on the road raising money, US venture capitalists tried to beat down the valuation. Haiyin’s attitude was different: it viewed the deal as a strategic transaction with China market potential as a significant value-add.
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