Digital Health Investment Weekly Report [Issue 171]

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01 Global Digital Health Investment and Financing Overview

Patient Access Platform Phil Secures $60 Million Growth Debt Financing

On July 8, Phil, a patient access platform, secured $60 million in growth debt financing from K2 HealthVentures (K2HV). The funds will accelerate the integration of artificial intelligence on the Phil platform and support its customer expansion across a wide range of therapeutic areas.

Neuros Medical, a developer of neurostimulation therapies, secures $56 million in Series D financing

On July 9, Neuros Medical, a developer of neurostimulation therapies, secured $56 million in Series D funding led by EQT Life Sciences, with participation from existing investors including U.S. Venture Partners, Amzak Health, and others. The funds will be used to commercialize the FDA-approved non-opioid neurostimulation system, Altius® System, designed for treating chronic post-amputation pain.

Heart Failure Therapy Developer Restore Medical Secures $23 Million in Series B Financing

On July 7, Restore Medical, a developer of heart failure therapies, secured $23 million in Series B funding, co-led by Pitango HealthTech and a global strategic partner, with participation from the European Innovation Council (EIC) Fund. Existing investors, such as Peregrine Ventures, also continued their support. The funds will be used to advance clinical research on its novel transcatheter device, which offers a new minimally invasive treatment option for heart failure patients with currently limited therapeutic choices.

KESMINGDE, a developer of flexible electronic endoscopes for gastroenterology, secures hundreds of millions of yuan in Series A+ funding

On July 8, Cosmend, a developer of flexible electronic endoscopes for gastroenterology, secured hundreds of millions of yuan in an A+ round of financing led by a well-known industry institution, with Yahu Investment participating and existing shareholder IDG Capital continuing to increase its investment. The funds from this round will be used for brand building and commercial investment both domestically and internationally for the company's series of flexible endoscope products, as well as to accelerate the R&D progress across multiple pipelines.

Zhejiang Shuwen Biotech Co., Ltd. Secures Nearly RMB100 Million in Series C Financing

On July 9, Zhejiang Shuwen Biotech Co., Ltd., a developer of medical diagnostic reagents, secured nearly RMB 100 million in its Series C financing round, led by Goldcap Investment with continued investment from existing shareholder OrbiMed China. The proceeds will be used to accelerate the domestic and international market promotion of the company’s globally pioneering diagnostic products, while increasing investment in new product research and development to further enrich and enhance the company’s precision healthcare product pipeline for women's health.

Neurotechnology Platform Developer Sanmai Technologies Secures $12 Million in Series A Funding

On July 4, neurotechnology platform developer Sanmai Technologies secured $12 million in Series A funding, led by LinkedIn co-founder Reid Hoffman. The funds will be used to advance the development of their non-invasive, AI-guided focused ultrasound headset device, designed to treat mental health disorders and enhance cognitive function, aiming to make clinic-level brain stimulation technology accessible for home use.

AI Drug Discovery Platform Synfini Secures $8.9 Million in Financing

On July 7, Synfini, an AI drug discovery platform, secured $8.9 million in funding led by JSL Health Capital, with participation from SRI Ventures, WERU Investments, Ferocity Capital, and others. The funds will be used to further develop its AI Cloud Foundry platform, expand operational scale, and broaden customer collaborations.

Dental 3D Printing Solutions Provider Novenda Technologies Secures $6.1 Million in Series A Funding

On July 9, Novenda Technologies, a provider of dental 3D printing solutions, secured $6.1 million in Series A funding led by Brightlands Venture Partners, with participation from KBC Focus Fund, Borski Fund, and others. The funds will be used to revolutionize the manufacturing of dental products through their groundbreaking multi-material 3D printing technology, which enables more comfortable and naturally appearing dental products without the need for manual assembly or post-processing.

Nutritional Products Manufacturer Tonic Health Secures £2.8 Million in Series A Funding

On July 4, nutritional products manufacturer Tonic Health secured £2.8 million in Series A funding, led by Side by Side Partnership, with participation from Rubix Partners and well-known consumer industry investors Nigel Wray and Tom Singh. The funds will be used to advance new product development, expand retail channels, and increase the brand's investment in health education content.

Meituan Medicine and Health Collaborates with Beijing Tongrentang Medical Care to Build a One-Stop Traditional Chinese Medicine Health Service

On July 4, Beijing Tongrentang Medical Care and Meituan Pharmaceutical Health officially reached an in-depth cooperation agreement. The two parties will engage in extensive collaboration in areas such as the supply of Traditional Chinese Medicine (TCM) health products, online consultations with renowned medical experts, and the promotion of TCM culture to enhance the accessibility of TCM health services. Over 20 medical institutions under Beijing Tongrentang Medical Care, including Beijing Tongrentang TCM Hospital, will fully integrate into the Meituan platform. Additionally, the two sides will explore further collaboration in upgrading internet-based medical consultation services, live broadcasts on health education, and expert online consultations, jointly creating a one-stop online and offline TCM health service.

Modella AI Collaborates with AstraZeneca to Advance AI Pathology Diagnosis Technology

On July 4, AI healthcare startup Modella AI reached a multi-year agreement with AstraZeneca. Modella AI will provide AstraZeneca with access to its multimodal AI foundational model to accelerate the clinical development of AstraZeneca's global oncology portfolio. Modella AI, spun off from the Mahmood Lab at Harvard Medical School and Massachusetts General Hospital Brigham, has its multimodal generative AI model PathChat featured in the prestigious international journal *Nature*. PathChat achieved an accuracy rate of 89.5% when providing clinical context and has been dubbed the "ChatGPT of pathology."

Digital Biomarker Analysis Solutions Provider Quanterix Acquires Akoya Biosciences

On July 8, Quanterix, a provider of digital biomarker analysis solutions, acquired Akoya Biosciences. Quanterix completed the acquisition by issuing 78 million ordinary shares to Akoya shareholders and paying $20 million in cash. This acquisition will enhance Quanterix's early disease detection capabilities and expand its market scale.

Innovia Medical, a supplier of single-use surgical essentials and sterile processing products, acquires Grace Medical and Hurricane Medical

On July 4, Innovia Medical, a supplier of disposable surgical essentials and sterile processing products, acquired two U.S.-based specialty medical device companies: Grace Medical and Hurricane Medical. This acquisition aims to build a globally integrated platform for specialized surgical solutions. Grace Medical focuses on otolaryngology (ENT) products, offering professional solutions for complex surgical needs, while Hurricane Medical provides ophthalmic solutions and adds a range of ophthalmic products to Innovia through its manufacturing operations. The acquisition is expected to expand resources and create a broader product portfolio.

Aimedic Acquires REGEN Biotech

On July 2, Aimeike (300896.SZ) subsidiary Aimeike International acquired REGEN Biotech, a medical consumables developer. As an innovative leader in China's biomedical soft tissue repair materials field, Aimeike's product portfolio includes solutions, gels, facial threading, and cosmetics. This acquisition further solidifies its leading position in the medical aesthetics sector.

ArteryNet/Arterial Orange Industry Think Tank/Huaxing Capital/BGI Co-Win/Rock Health/Mobile Health News/Fierce Health, etc.

Compiled by: Hou Zhancái, Huáng Chāngjiàn‍‍‍

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