Over $180 Million Raised in One Week as Big Data Heats Up in Digital Health

VCBeat Weekly Investment and Financing News Report: From March 21 to March 27, in just one week, the total amount of financing raised in the internet healthcare sector exceeded 1.$800 million.

It is reported that this week, the highlight of investment and financing in China’s internet healthcare industry was Venus Medtech’s receipt of a $37 million investment from Goldman Sachs, while there were eight investment deals announced internationally.

Analysis of Hot Financing Projects in China



This Week's Hottest Project: Venus Medtech

▪ Venus Medtech – Transcatheter pulmonary valve product with independent intellectual property rights

Venus Medtech was established in July 2009. Its transcatheter aortic valve product, the Venus A-Valve, is currently the only transcatheter aortic valve product globally to have completed the clinical trials required by the China Food and Drug Administration (CFDA), and it possesses fully independent intellectual property rights. The company’s transcatheter pulmonary valve product, the Venus P-Valve, can be used for interventional treatment of patients with severe pulmonary regurgitation following surgical repair of tetralogy of Fallot. It has currently entered the clinical stage, and patient enrollment for the EU certification clinical study is scheduled to officially commence in the first half of 2016. On March 24, 2016, medical device company Venus Medtech announced that it had secured a $37 million investment from Goldman Sachs. Venus Medtech will primarily allocate the proceeds from this financing to the research and development, promotion, and other related activities for its heart valve products.

Projects with Continuously Rising Valuations

▪ Da Te Bao – An internet-based personal health insurance platform, valued at RMB 1 billion after its Series B financing round

Da Te Bao was established in July 2014 as China’s first insurance service platform to hold a national online insurance brokerage license, with its primary products focusing on personal health insurance. This investment round was led by China Development Capital, Taiwan’s largest investment bank, with existing shareholders such as Ceyuan Ventures and Fosun continuing to participate. Following the completion of the Series B financing, Da Te Bao’s valuation reached RMB 1 billion. The funds will be primarily allocated to the research, development, and promotion of online medical insurance, as well as to providing coverage for individuals with pre-existing conditions.

Projects with Steadily Improving Service Models

▪ Maidu Liangzi—Focused on Physiotherapy Services, Secures RMB 30 Million in Pre-A Round Funding

Maidu Liangzi’s primary model leverages community stores to radiate home-visit services, providing users with new service channels and methods. It also establishes a new model standard for the upgrading of traditional service industries. While maintaining the consistent quality of the Liangzi brand, Maidu Liangzi plans to establish 3,000 new internet-enabled boutique community stores across China within three years. On March 15, 2016, the first Maidu Liangzi directly-operated store opened in Beijing, followed by the opening of the second store at the end of March. Maidu Liangzi has completed a RMB 30 million pre-A financing round led by Fangsheng Fund and is currently negotiating its next round of financing. The successful securing of this financing signifies the complete integration of Maidu Liangzi’s home-visit and in-store services.

E-commerce Integrated Projects

▪ SPH Health Commerce – Internet Healthcare E-commerce Platform, Secures RMB 135 Million in Series A+ Funding

Shanghai Pharma Health Commerce Co., Ltd. was established on March 18, 2015, through a joint investment by Shanghai Pharma, which contributed RMB 70 million in cash, and natural person Ji Jun. On August 18, 2015, SPH Holdings (a subsidiary of Shanghai Pharma), JD.com, and IDG Capital jointly increased their capital investment in SPH Health Commerce with amounts of RMB 900 million, RMB 151.5 million, and RMB 60.625 million, respectively. The company is positioned as a trade-oriented e-commerce platform providing O2O sales of prescription drugs and health management services to patients.



Analysis of Hot Financing Projects Abroad


▪ LifeBeam’s Smart Helmet Project Secures $16 Million in Funding

LifeBeam was founded in 2012, initially focusing on the development of wearable biosensing devices for the aerospace sector. Later, the company shifted its efforts to developing embedded sensor technologies for wearable devices. The company plans to use this funding to develop a new wearable device that will integrate with Apple’s and Google’s health platforms.

LifeBeam was founded in 2012, initially focusing on the development of wearable biosensing devices for the aerospace industry. Later, the company shifted its efforts to developing embedded sensor technologies for wearable devices. The company plans to use this funding to develop a new wearable device that will integrate with Apple’s and Google’s health platforms.

▪ Bivarus—Committed to Internet-based healthcare big data, secures $2 million in financing

Bivarus, founded in 2012, has developed a program based on the analysis of patient medical record data. To date, the company has raised nearly $4 million in financing. It maintains extensive partnerships, and its product has been licensed by hospitals and large private rehabilitation institutions. The company will allocate these funds to product version updates.

▪ 10X Genomics—The Dark Horse in the Gene Sequencing Field, Completes $55 Million Series C Financing

10x Genomics is a dark horse in the field of gene sequencing, having recently completed a $55 million Series C financing round. This funding will be used to develop next-generation gene sequencing products, and 10x Genomics will also begin rapid expansion.

▪ Pieces Technology—Clinical Decision Support Company Raises $21.6 Million in Series A Funding

Pieces Technology is a platform serving hospitals and healthcare systems. Recently, it secured $21.6 million in Series A financing. Pieces Technology integrates functionalities such as condition monitoring, pre-diagnosis, and learning. Its cloud-based software connects with hospital information management systems, providing a comprehensive view of patients and their healthcare needs to facilitate better health management.

▪ NarrativeDx—Leveraging Natural Language Processing to Improve Patient Outcomes, Company Secures $1.1 Million in Funding

NarrativeDx has developed a highly adaptive tool that not only leverages analytical capabilities to process natural language and enrich patient satisfaction surveys, but also generates real-time questions for patients in specific contexts to help improve their clinical outcomes. The funding will be used to expand its sales team, with the aim of enhancing its patient journey analysis services.

▪Oncora Medical—Driving the Historical Progress of Personalized Cancer Treatment, Company Secures $1.2 MillionFinancing

The software platform developed by Oncora Medica assists physicians in tailoring treatment plans and providing personalized services by collecting and leveraging data related to patients’ radiation therapy. Through Oncora Medica’s dose prescription system, physicians can also review the radiation doses administered to previous patients during their radiotherapy. Recently, the company announced the completion of a $1.2 million seed funding round.

▪ Constant Therapy—Focused on the field of brain rehabilitation therapy, has completed a $2 million Series A financing round

Constant Therapy is a brain rehabilitation company whose app provides therapeutic regimens for patients with conditions such as traumatic brain injury, stroke, aphasia, and learning disabilities. The company recently completed a $2 million Series A financing round.

▪ Purdue University Secures $3 Million Investment for Development of Chronic Care Management Software

Christopher Harle, a professor in the Department of Health Care Management and Policy at Purdue University, has recently secured two grants totaling $3 million to develop software for chronic disease care management. The purpose of this software development at Purdue University is to safeguard the health care of patients with chronic diseases through information-based tools.

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Text | Deng Xueyuan