(Yicai Global) Aug. 30 -- China's Neural Galaxy has finished its CNY500 million (USD77 million) Series A round of financing to speed up the development of products to detect and treat brain diseases.

Beijing-based healthcare venture capital institution 3E Bioventures Capital was the biggest investor in Neural Galaxy's latest fundraiser, the Beijing-headquartered firm said on its website today. Many others, including Lightspeed China Partners, participated in the funding.

The startup is joining hands with Chinese hospitals in diagnosis and treatment tests on depression, Alzheimer's disease, Parkinson's disease, autism, and stroke, it said. The firm plans to recruit from 300 to 400 researchers, engineers, and medical personnel to conquer brain diseases as soon as possible, it added.

Neural Galaxy has gained nearly USD100 million through three rounds of financing, including its angel round. The company got over CNY100 million in its Series pre-A round from Lightspeed China Partners and others early this year.

Professor Liu Hesheng at Harvard Medical School and other experts founded Neural Galaxy in July 2019. The company is developing a brain-computer interface to measure brain activity and to detect disorders.

Editor: Emmi Laine, Xiao Yi