Global Digital Health Firm Secures Nearly $300 Million in Funding and Files IPO Prospectus
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Over the past two weeks, there were 12 financing events in the global digital health sector, with total funding amounting to approximately $293.5 million. Among these, domestic projects raised a total of about $54.6 million, while overseas projects secured approximately $238.9 million.
Overview of Domestic Projects
On September 14, 2016, QuLian Fitness Group Classes, a fitness O2O platform, announced that it had secured tens of millions of RMB in angel-round financing in October 2015, with Guangdong Yinghan Investment Co., Ltd. as the investor. QuLian Fitness Group Classes is a subsidiary of Guangzhou QuLian Information Technology Co., Ltd. It is an offline-focused fitness O2O platform dedicated to integrating high-quality resources in the current fitness market and establishing a comprehensive and rational gym management system.
On September 19, 2016, Jicheng Dental announced that it had secured tens of millions of US dollars in Pre-A round financing, led by Fenxiang Capital. Starting with its offline presence, Jicheng Dental operates its clinics under a “asset-light + management-intensive” model. Following the completion of this funding round, Jicheng Dental will expand its clinic network in Shanghai. The company plans to establish one self-operated flagship store and 15 partner clinics in Shanghai. Through a 4×4 layout strategy, it aims to achieve comprehensive coverage of the main urban areas, ensuring service availability within a 3-kilometer radius for each location. After completing its Shanghai expansion, Jicheng Dental intends to replicate this model nationwide. It is reported that in March 2015, Jicheng Dental received RMB 5 million in angel investment from ZhenFund.
On September 20, 2016, Genetron Health announced that it had secured hundreds of millions of RMB in Series B financing. The round was led by Vcanbio Cell & Gene Engineering Corp., with participation from New Horizon Capital and existing Series A investors including Fenxiang Investment, Joincare Venture Capital, and Jiadao Gongcheng, among other institutional investors. Genetron Health is an institution specializing in cancer genomics analysis and personalized cancer services, providing molecular diagnostic analysis and precise personalized diagnosis and treatment plans for healthy individuals, cancer patients, and high-risk populations. On August 22, 2014, Genetron Health raised tens of millions of US dollars in Series A financing from Chongde Investment. On January 20, 2016, Genetron Health secured additional Series B funding amounting to tens of millions of RMB from Joincare Venture Capital.
On September 20, 2016, Zhiben Medical Technology announced that it had secured $10 million in angel-round financing. This round was jointly invested by IDG Capital (Harmony Health Fund), Sinoway Capital, and Volcanic Stone Capital. Zhiben Medical Technology is a technology commercialization company focused on the research and development of high-tech solutions and their translation into clinical applications. By leveraging high-throughput next-generation sequencing (NGS) technology, the company comprehensively detects genetic abnormalities closely associated with cancer treatment, aiming to provide personalized medical consulting services to patients.
On September 21, 2016, Danuo Pharmaceuticals announced that it had secured a new round of financing amounting to $25 million. The round was led by Northern Light Venture Capital, with participation from existing shareholders T&H Capital, WuXi AppTec, Yuanhe Origin, and Relativity Health Fund. The proceeds from this financing will be used to advance the company’s pipeline of novel dual-target molecular drugs in development. Reportedly, Danuo Pharmaceuticals is a clinical-stage innovative drug research and development company specializing in the development of novel dual-target antibacterial agents to address unmet medical needs in the field of antimicrobial therapy.
Recently, Hcode announced the completion of its Pre-A financing round, raising tens of millions of RMB with Qifu Capital as the lead investor. Hcode is a brand under Shenzhen Hongruikang Biotechnology Co., Ltd., dedicated to leveraging gene sequencing technologies and big data analytics to analyze and interpret the characteristics of microbial communities (referred to as "micro-ecology") in various parts of the human body, and to develop tailored products and solutions. Reportedly, the funds from this round will be primarily allocated to market expansion, product development and enhancement, team expansion, as well as product marketing and promotion.
Recently, Subeikang announced that it had secured an angel-round financing of several million RMB. The investor is a senior executive at a publicly listed medical company who has chosen to remain anonymous. Leveraging advanced optoelectronic communication technologies and integrated smart medical diagnostic products, Subeikang provides users with systematic solutions. Its product comprises three major modules: hardware, cloud-based software, and auxiliary systems. Currently focusing on the B2B market, the company has partnered with 11 hospitals, using them as primary deployment sites to promote its offerings to patients.
Overview of Overseas Projects
Recently, Intarcia Therapeutics announced the completion of a new $215 million financing round. The company is dedicated to addressing the challenges of chronic disease management in diabetes. Reportedly, the funds from this round will be used for the regulatory approval and commercial launch of its ITCA 650 implantable drug delivery pump. According to Intarcia Therapeutics’ official website, the company previously completed a $210 million financing round in November 2012, a $200 million round in April 2014, a $225 million round in April 2015, and a $75 million round in May 2016.
Recently, BigStylist announced that it had secured $900,000 in funding from Info Edge. BigStylist is an Indian beauty services platform that allows users to book on-demand home visits from stylists and beauticians through its website, mobile app, or phone.
On September 17, 2016, InfraDigital Technologies, the parent company of AlternaCare, an Indian online healthcare service platform, announced that it had secured $500,000 (approximately INR 33.5 million) in seed funding from Eros Labs. AlternaCare is an Indian telemedicine platform that delivers remote medical services through a social application. The funds raised in this round will be used to expand business operations, including product development, team expansion, and brand promotion.
Recently, MedCrypt announced that it had secured $750,000 in angel financing from Safeguard Scientifics. MedCrypt is a healthcare security platform founded in May 2015 and headquartered in Mumbai, India.
Recently, Yiling Health City Technology Co., Ltd. announced that it would invest $15 million (RMB 100 million) to become the largest shareholder of HealthWatch, holding a 23.15% equity stake in the company. Israel-based HealthWatch is dedicated to the research and development of wearable ECG monitoring devices. Its product is a smart T-shirt equipped with a system for real-time dynamic health monitoring and early warning of cardiac electrical activity. This system continuously analyzes output signals from proprietary textile sensors embedded in the T-shirt and can promptly issue alerts for abnormal ECG activities.
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