Sipai Network Secures RMB 400 Million Series D Funding Led by CEC-CICC Fund, Accelerating Profitability in Oncology and Specialty Pharmaceuticals

VCBeat (WeChat ID: vcbeat) has learned that in the fourth quarter of 2018, Sipei Network, an integrated healthcare management technology company in China focusing on oncology and specialty drugs, successfully completed a RMB 400 million Series D financing round within three months. The round was led by CEC-CDH Fund, with CDH Investments participating as a co-investor. Existing shareholders Tencent, Fidelity’s Spore Capital and F-Prime, and IDG Capital also significantly increased their investments. The company plans to undertake further capital operations in 2019 to support business development.

Since its founding in 2014, SiMai Network has focused on oncology and related specialty pharmaceuticals. Its core team of over 100 members comes from the medical, marketing, and sales divisions of multinational pharmaceutical companies’ oncology businesses. They possess deep expertise in this field, with an average of 10 years of experience and extensive client resources. Ma Xuguang, founder of SiMai Network, firmly believes that only by consistently focusing on actions beneficial to doctors and patients, while simultaneously serving innovative pharmaceutical companies and insurance providers, can SiMai fulfill its mission: to ensure that cancer no longer hinders life.

To fulfill this mission, Simpai has rooted itself in real-world medical needs and built two core strengths: 1) a nationwide network of clinical oncology experts with precision down to the specialty level; 2) comprehensive, high-quality information flows in the fields of oncology and specialty drugs.

Leveraging these two major advantages, SiMai Network has successfully built four rapidly growing, large-scale business segments:

Bison Medical

The only clinical trial site management organization (SMO) in China focused exclusively on oncology specialty drugs. Bison Medical has established a leading position in the field of clinical trials for new oncology drugs. It has gained widespread recognition from major multinational pharmaceutical companies, large domestic pharmaceutical manufacturers, and leading emerging biotechnology firms, as well as high acclaim from hospital clinical centers and medical experts.

Sipai Pharmacy

Specialty Pharmacy for Oncology and Rare Diseases (DTP). SiPay Pharmacy adheres to a fully self-built and centrally managed model, establishing a unique system for pharmaceutical care, patient follow-up, and management. SiPay Pharmacy has completed its layout in all major cities and hospitals, with delivery coverage extending to 649 county-level cities and above across China. With the rapid growth of its business, SiPay is also considering introducing new investors to support the expansion of its pharmacy operations and service upgrades. Currently, multiple strategic and financial investors have expressed strong interest.

Sipai Health

Health Insurance Management Network. In the development of commercial health insurance, medical management capability is core. Leveraging its medical data capabilities and a nationwide PPO (Preferred Provider Organization for oncology), Si Pai Health helps major insurance companies design innovative products and deliver patient-centric professional services. It has already established partnerships with more than ten well-known enterprises across various insurance sectors, including life, pension, health, and reinsurance.

Sipai Medical Technology

Full Lifecycle Drug Launch Management. Leveraging the multi-layered data and entity network established through its first three business segments, SiPi has collaborated with numerous multinational pharmaceutical companies to conduct extensive real-world evidence (RWE) studies and patient management programs. This has yielded high-value clinical information analytics, enabling several pharmaceutical companies to achieve regulatory approval for new drugs without traditional clinical trials and to expand drug indications through innovative approaches.

The integration of patient flow, logistics, capital flow, and information flow across Simpai’s four business segments establishes an efficient oncology ecosystem platform. Simpai firmly believes that serving the healthcare sector requires unwavering reverence and a persistent commitment to reliability. Simpai strives to collaborate with all diligent and professional partners, dedicated to ensuring that cancer is no longer a burden on life.

Zhou Xuan, Partner at CEC-CDH Fund, stated, “Through the dedicated efforts of the company’s management team and the strong support from previous investors, SiMai Network has become a benchmark enterprise in the industry, initially establishing a closed-loop ecosystem that covers patients, oncology experts, medical institutions, pharmaceutical companies, and payers. CEC-CDH Fund is committed to leveraging our resource advantages to assist the company in achieving further development across all business segments and driving its profitable growth.”

Yao Leiwen, Managing Director at Tencent Investment, stated that Si Pai Network has focused on deepening its presence in the oncology sector over the past few years, continuously exploring and expanding its business scope. Currently, the company’s various business lines are centered around the genuine needs of physicians and patients, creating substantial incremental value. Tencent will continue to support Si Pai, helping to improve efficiency across all parties in the healthcare system and promoting industry advancement.

This Series D financing round is expected to accelerate the growth of various business units, thereby driving Si Pai toward comprehensive profitability.

The CEC-CICC Fund is an industrial investment fund jointly managed and operated by CICC Capital Management Co., Ltd. and China Electronics Corporation (CEC), with a focus on the advanced electronic information and big data industries.