New Horizon Health Just Completed $66 Million Series C Financing, Gaining International Recognition

On May 24, 2019, New Horizon Health Technology Co., Ltd. Has announced that the company just completed Series C round of financing, and has received a total of $66 million in investment around the world. This is the largest investment ever made in the field of cancer screening in China.

New Horizon Health is a leading company among the cancer screening services industry in China. New Horizon Health is committed to reducing the incidence rate and mortality rate of cancer through biotechnology. Promoting early screening of cancer into thousands of households, and its outstanding scientific research abilities and market expansion capabilities have been recognized by international investment institutions.

This round of financing was led by VMS Group and followed by Legend Capital, Softbank China Venture Capital, Qiming Venture Partners, DUMAC, Acorn Pacific Venture, Credit Suisse and few more institutions around the world. Before this round of financing, New Horizon Health has already raised $35 million of financing from investment groups around the world.

New Horizon Health is currently focusing on early screening technology for colorectal cancer and lung cancer. It has launched a series of early screening products for colon cancer, and the world's first approved sputum lung cancer diagnosis assist technology. This round of financing would increase the research budget and improve the final products. 

Huiqing Zhu, the CEO of New Horizon Health said "Our mission is to detect early-stage cancer through biotechnology, which can help to lower the mortality rate and incidence rate of cancer. By continuously developing new technologies and products, we will have good early-stage cancer screening products and services that can help China and the rest of the world. I am very pleased that more investors are working with us to achieve this goal."

VMS Group was founded back in 2006, the company is a private investment management company focused on listed and unlisted investment opportunities in China and Asia.

Legend Capital was founded back in 2001 in Beijing. The core business of Legend Capital is early-stage Venture Capital and expansion-stage Growth Capital investment. Legend Capital is now managing several USD funds and RMB funds with a total AUM RMB 450 billion, and focuses on innovation and growth enterprises with operations in China or related to China.

Established in 2000, SB China Capital (SBCVC) is a leading venture capital and private equity firm that manages both USD and RMB funds. Their investment focuses on high-tech, high growth companies in TMT, clean technology, healthcare, consumer/retail, and advanced manufacturing sectors; and we invest across all stages of companies.

Founded in 2006, Qiming is a leading China venture capital firm with offices in most major cities in China. Qiming strives to be the investor of choice for top entrepreneurs in China.

Founded in March 2015 in California. Acorn Pacific Ventures provides funds and execute global technology strategies for entrepreneurs around the world.