KYEE Raises RMB 221 Million in Series C Funding; FDA Approves World's First 3D-Printed Drug SPRITAM
[Today's Highlights]
○ Ochsner and GE Healthcare Launch the “Wear Your Health” Challenge
○ Kyee Group Secures RMB 221 Million in Series C Funding from Shengshijing and SoftBank China
○ FDA Approves World’s First 3D-Printed Drug—SPRITAM
○ Online sales of prescription drugs may be postponed
1. Ochsner and GE Healthcare Launch the “Wear Your Health” Challenge
On July 30, Ochsner Health System, GE Healthcare, and Idea Village launched the “Wear Your Health” challenge, aimed at identifying wearable technology concepts and mobile application solutions that transform healthcare outcomes through behavioral management of patients with chronic diseases.
Seven out of every ten deaths in the United States are attributed to chronic diseases, which account for more than 80% of total healthcare expenditures. The current U.S. healthcare delivery model has not been effective in addressing this issue. The “Wear Your Health” Challenge, an initiative years in the making by Ochsner, GE Healthcare, and Idea Village, aims to address healthcare and lifestyle challenges facing a significant portion of the U.S. population.
This challenge aims to attract entrepreneurs and innovators in the United States, with a particular emphasis on New Orleans’ local startup community. Through the competition, it seeks to prompt participants to reflect on the evolving healthcare landscape and encourage lifestyle changes.
Submitted solutions should preferably be applications or wearable devices, or ideas that can be implemented through applications and wearable devices. Solutions should focus on promoting healthy lifestyles, empowering patients to make smarter and more proactive choices, and enhancing provider expertise (e.g., wearables tracking behaviors and biomarkers, with data transmitted via connected home devices), rather than focusing on clinical efficacy and patient comfort (e.g., improved food options, cable television).
2. Kingyee Shares Secures 221 Million Yuan in Series C Funding from Shengshijing and SoftBank China
China’s Largest Non-IPO Financing Deal in the Traditional Healthcare IT Industry Emerges. On August 1, Kyee Group announced the completion of its Series C financing round, totaling RMB 221 million. The round was led by Shengshijing Investment, with participation from SoftBank China and Honghui Capital. All proceeds from this financing will be dedicated to corporate innovation.
Founded in 2004, Kyee Group is the first enterprise in China to explore applications in the field of HCRM (Hospital Customer Relationship Management), with mobile healthcare, Medical Internet of Things (MIoT), HRP, and HCRM as its four core business segments. Over the past 11 years, leveraging continuous innovation and technological advantages in these four areas, Kyee Group has provided technologies, products, and services to more than 500 high-end healthcare clients in China.
Dr. Li Zhi, Chairman of Jingyi Shares and Quyi Network, stated that the state vigorously advocates the in-depth development of the “Internet Plus” industry, and traditional enterprises should actively innovate their products and service models. More importantly, this requires upgrading teams and mindsets. Quyi Network was launched in 2014 to better position for the future of smart healthcare.
3. FDA Approves the World's First 3D-Printed Drug—SPRITAM
Recently, the U.S. Food and Drug Administration (FDA) approved the world’s first 3D-printed drug—SPRITAM orally disintegrating tablets—with sales scheduled to begin in the first quarter of 2016.
It is understood that SPRITAM is an antiepileptic drug that utilizes Aprecia’s proprietary ZipDose® 3D printing technology. It exhibits excellent water solubility, dissolving into the bloodstream in less than 10 seconds. Furthermore, ZipDose technology offers significant advantages for high-dose medications and drugs requiring stringent dose precision.
SAprecia Pharmaceuticals is the only pharmaceutical company in the world developing 3D-printed drugs, holding more than 50 patents related to 3D-printed medications. 3D-printed drugs are essentially a formulation processing technology that combines the flexibility of liquid preparations with the precision of tablet formulations to produce 3D-printed tablets.
4. Online Sales of Prescription Drugs May Be Postponed
Recently, media reports have indicated that the policy on online sales of prescription drugs may be postponed due to excessive regulatory challenges.
A head of a pharmaceutical retail industry association close to the China Food and Drug Administration (CFDA) revealed, “More than a year has passed since the release of the draft for public comment, yet no formal policy has been issued, as the CFDA is concerned that the launch would lead to a proliferation of counterfeit drugs online, making them difficult to regulate.”
An official from the China Pharmaceutical Commercial Association argued that another reason why online sales of prescription drugs are not feasible is that the separation of prescribing and dispensing has not been truly implemented. Prescriptions remain largely monopolized by major hospitals, with very few actually available online. Furthermore, if restrictions on online prescription drug sales were lifted, commercial incentives would inevitably lead to a surge in fraudulent prescriptions on the internet, making regulatory oversight excessively difficult.
In January this year, Bi Jingquan took office as the Commissioner of the China Food and Drug Administration (CFDA). “Bi Jingquan’s appointment means, first, that he will need time to familiarize himself with the CFDA’s operations, and second, that any policies introduced shortly after his assumption of office will be rolled out more cautiously,” commented an official from the China Food and Drug Administration.
Luo Yan, President of the Online Pharmacy Branch of the China Medical Pharmaceutical Materials Association, stated, “Regardless of whether prescription drugs are sold online, the home-delivery model for medications remains the future direction.”