PHC Capital's Medical Investment Initiative: Bridging UK and China through Strategic Collaboration with Leading British Investment Firms and Research Institutions

VCBeat (WeChat ID: vcbeat) reported that on September 22, the China-UK High-End Medical Investment Forum was held at the Northern Software Park in Hangzhou.

This forum is jointly hosted by Puhua Capital, the Hangzhou Municipal Science and Technology Commission, the Hangzhou Municipal Financial Affairs Office, and the Gongshu District People’s Government, with co-organization support from IP Group, a leading UK investment institution, and Oxford University Innovation (OUI).

The forum attracted over 200 participants from investment institutions, listed companies, research institutes, and technology innovation companies in China and the UK.

Guests from China and the United Kingdom will focus on the healthcare sector, exchange insights on technology translation, assess trends in technological innovation, demonstrate the synergistic impact of capital and technology, and explore opportunities for Sino-British cooperation in tech investment.

Yao Feng, Member of the Standing Committee of the Hangzhou Municipal Party Committee and Deputy Mayor, attended the event and delivered a speech. He stated that Hangzhou is committed to enhancing its internationalization, advancing its industries toward high-tech development, and improving the quality of life. This forum, jointly organized by China and the UK with a focus on technology and healthcare, aligns well with Hangzhou’s three strategic priorities. He believed thatThere is significant scope for cooperation between China and the UK in technology translation and transfer., hoping that more enterprises will follow PwC’s example in “going global” and “bringing in.”

Relevant personnel from the Oxford University Innovation Centre stated that there are broad prospects for cooperation in China-UK sci-tech investment, and they are optimistic about exchanges in high-end medical technology.

Shen Qinhua, General Manager of Puhua Capital, the forum organizer, stated that this forum represents a new achievement in the collaboration between Puhua and its UK partners. Prior to this,Puhua Capital has established partnerships with London’s IP Group and Oxford’s OUI., and with their assistance, accurately selected the first batch of high-tech projects. PwC will leverage capital and other resources to facilitate the entry of these projects into China.

It is understood that the projects selected by PwC are highly technologically advanced, such as those originating from the University of Oxford.OxSightThe company, its developedSmart Glasses for the Visually Impaired, not voice prompts but image display, with technology at the forefront.

Also from the University of LeedsCreavothe company, its developedPortable Magnetocardiograph, is a new generation of cardiac diagnostic device, representing the latest application of quantum technology.

Centered on trends in medical technology translation and technological innovation, forum guests delivered insightful keynote speeches. Alan Aubrey, CEO of UK-based IP Group, focused on “the commercialization and capitalization of intellectual property,” not only elucidating the critical process of transforming intellectual property from “rights” to “value,” but also introducing successful practices in this regard.

This includes establishing an investment team with both technological and commercial expertise, forging close ties with incubation programs at prestigious universities in the United Kingdom, the United States, and other countries, entering at the seed stage and holding long-term positions using the listed company’s own funds to support portfolio companies’ growth and facilitate the industrialization of technologies.

The presentations by three other UK-based speakers illustrated, from specialized perspectives, the depth and dynamics of contemporary technology’s integration into healthcare. Dr. Rakesh Roshan, CEO of OxSight, delivered a talk on “The Role of Augmented Reality in Healthcare”; Dr. Sam William, CEO of Istesso, presented on “Frontiers in International New Drug Development—Immunometabolism”; and Stuart Gall, CEO of Medaphor, spoke on “Applications of Artificial Intelligence and Enhancing Ultrasound Diagnostic Efficiency.”

Chinese guests, including Zheng Min, Vice President of The First Affiliated Hospital, Zhejiang University School of Medicine (FAHZU), elaborated on the interactive and mutually reinforcing relationship between scientific research and clinical practice, demonstrating how FAHZU leverages research to drive continuous improvements in clinical care. Zhu Fujiang, Chairman of Minsheng Pharmaceutical Group Co., Ltd., and Lü Gang, Chairman of Jingxin Pharmaceutical Co., Ltd., shared their insights from the perspective of initial practices in the internationalization of Chinese pharmaceutical enterprises.

The final segment of the forum was a roundtable discussion. The first topic focused on a comparison of technology transfer outcomes between China and the UK, while the second addressed the comparative development of medical artificial intelligence in the two countries. Invited Chinese and British experts, scholars, investors, and entrepreneurs shared their perspectives and engaged in dialogue, highlighting both common ground and differences. Their exchanges offered attendees fresh insights and inspiration.

Introduction to Participants of the China-UK High-End Medical Investment Forum

Puhua Capital, established in 2004, is among the first batch of private equity investment firms engaged in capital management in China. As of mid-2017, its assets under management exceeded RMB 12 billion.

Puhua Capital is rooted in China, with a nationwide reach and global connections. Guided by its investment philosophy of “Health + Happiness,” the firm focuses on emerging technologies, healthcare, and broader cultural sectors.

It has invested in more than 300 outstanding enterprises, including Momo, Qihoo 360, Ximalaya, Remebot, Creavo, Moji Weather, Yunda Express, and Blue Lion Capital, and has exited from over 40 portfolio companies through IPOs, mergers and acquisitions, and the New Third Board. Puhua Capital has been ranked among the Top 10 Chinese Venture Capital Firms with the Best Returns (ChinaVenture), the Top 10 Most Active Investment Institutions in China’s Healthcare Sector (Zero2IPO), the Top 50 Private Equity Investment Institutions in China (Zero2IPO), and the Top Ten Excellent Venture Capital Institutions in Zhejiang Province.

PuHua Medical Fund is a healthcare industry fund under PuHua Capital. It brings together a team of professional investors with deep industry backgrounds, adhering to the principle of prioritizing social value in investment and the operational philosophy of serving innovation and entrepreneurship. The fund’s assets under management are projected to exceed RMB 5 billion within three years. Its investment strategy features dual drivers of industry and capital, a balanced and hedged internal investment portfolio, and the establishment of an industry ecosystem through an open and win-win mindset.

As early as 2011, when mobile healthcare was just emerging, Puhua Medical actively established its presence in the healthcare sector. During this period, it invested in pharmaceutical companies such as Huatong Medicine (002758) and Quanyuantang (833409), which were successfully listed on stock exchanges. To date, Puhua Medical has invested in dozens of high-quality startups, including Creavo, a UK-based innovator in magnetocardiography technology; Zhidao Hospital Management, a big data company specializing in hospital management; Remebot, a robotic system for neurosurgery; Aiji Taikang, a company focused on gene capture technology; Yuce Bio, specializing in precision oncology diagnostics; Hangzhou Cognitive, known for its Watson-powered oncology decision support system; and Baoguanjia, a medical insurance service provider. Its investment portfolio spans multiple fields, including precision medicine, artificial intelligence, medical robotics, healthcare big data, medical services, and health insurance.

Refers to the “Memorandum of Understanding between the Ministry of Science and Technology of the People’s Republic of China and the Department for Business, Innovation and Skills of the United Kingdom of Great Britain and Northern Ireland on the Research and Innovation Bridge Programme,” signed on September 17, 2015, hereinafter referred to as the Science and Technology Bridge Programme.

It is the world’s leading independent commercial organization dedicated to the commercialization of scientific research outcomes. It boasts resources and networks from 32 top-tier universities and research institutions in the UK, the US, and Australia, along with extensive experience and capabilities in the commercialization and operation of research achievements. IP Group was founded in the UK in 2000, listed on the AIM market in 2003, transferred to the Main Market of the London Stock Exchange in 2006, and is currently a constituent of the FTSE 250 Index. Headquartered in the City of London, it maintains offices in multiple cities across the UK, on both the East and West Coasts of the US, and in Australia.

IP Group’s investment targets focus on the commercialization of technologies originating from universities and research institutes, requiring robust intellectual property barriers. The Group’s investment team comprises seasoned professionals with dual expertise in science/technology and business. Its investment sectors span four key industries: high-tech, clean technology, general healthcare, and life sciences.

IP Group typically enters at the seed round, using its own capital as a listed company to hold long-term investments and support the growth of its portfolio companies. IP Group currently has over 100 portfolio companies.

IP Group is a pioneer and leader in the commercialization of scientific research outcomes in the UK, maintaining long-term collaborative agreements with 15 top-tier British universities. Since entering the U.S. market in 2014, it has established long-term partnerships with eight leading universities and national laboratories. In 2017, IP Group accelerated its international expansion by signing 20-year strategic cooperation agreements with Australia’s Group of Eight and the University of Auckland in New Zealand, further enriching its network of premier academic and research institutions. 

Affiliated with the University of Oxford, it is fully responsible for managing the university’s technology transfer and academic consulting activities, while providing technology transfer advisory services to clients worldwide. It is the European university institution with the highest number of patent applications and is hailed as the most productive technology transfer office in the United Kingdom. Its three major business segments are:

Technology Transfer Office: Assists Oxford University researchers in commercializing the intellectual property of their research outcomes, including patent applications, licensing agreements, and spin-off companies, having incubated over 100 star innovative companies.

Enterprise Division: Provides consulting services on technology transfer and innovation management to the public sector and enterprises, with a presence in over 60 countries worldwide. Its Asian business has experienced particularly rapid growth. In addition to connecting technology providers with technology seekers, the Enterprise Division also offers advice and consultation to governments, science parks, investors, and research funding agencies.

Consulting Department: Its primary responsibilities are to help University of Oxford researchers identify and manage consulting opportunities, while also enabling clients to access the university’s world-class interdisciplinary experts.

OxSight is a company incubated by the University of Oxford, dedicated to developing products and service solutions that improve the quality of life for blind and visually impaired individuals.

Leveraging AR smart glass technology, non-invasive complementary solutions, visual displays, and novel camera systems, we have developed smart glasses for the blind (including those with severe amblyopia), with plans to launch new products for applications such as text reading in the future. Since the inception of its R&D, the project has received strong support from the UK government and Google. In China, it has gained recognition from industry leaders, including Ms. Zhang Haidi, Chair of the China Disabled Persons’ Federation, and Professor Sun Xinghuai, a leading ophthalmology expert in Shanghai. The company has currently signed an agreement with India’s Tata Group.

Istesso is a UK-based life sciences company dedicated to the research and development of novel drugs. Its pipeline is at the forefront of immunometabolism, a rapidly emerging field with broad applications in autoimmunity and oncology.

The company’s first-in-class novel drug, MBS2320, is scheduled to enter Phase II clinical trials for the treatment of rheumatoid arthritis in 2017, and has secured an option and licensing agreement worth £176 million with Johnson & Johnson. Unlike existing medications that exert their pharmacological effects by suppressing the human immune system, MBS2320 works by finely tuning the metabolic energy of immune cells. This mechanism results in fewer side effects and confers the ability to stimulate new bone growth, thereby repairing damaged joints and restoring patients’ bone and joint function.

MBS’s pipeline of drugs under development covers multiple blockbuster drug markets, including cancer and multiple sclerosis. The company’s management team and Medical Advisory Board are composed of world-leading experts in the pharmaceutical and life sciences industries.

MedaPhor is a global medical technology company that provides ultrasound professional training simulation systems for healthcare professionals, with headquarters in Cardiff, UK, and Atlanta, USA. The company has developed world-leading medical ultrasound professional training and examination simulation systems, and its products are currently sold in more than 30 countries. The company's main products include:

Scan Trainer: Provides ultrasound simulation training software, offering learners an immersive, 24/7 learning experience that includes realistic haptic feedback, comprehensive anatomical scanning, real-time expert guidance, structured curriculum-based learning, and the ability for physicians to upload real clinical cases to the cloud simulator.

Scan Trainer Examine: A cloud-based ultrasound diagnostic skills training simulator that provides access to a library of over 500 pathological images and patient scan recordings, helping healthcare professionals learn critical diagnostic skills.

Heart Works: The World’s Leading Educational Simulation System for Echocardiography, Cardiac Anatomy, and Lung Ultrasound.