Shanghai Microport Medbot (Group) Co. Ltd. plans to list on the Shanghai Stock Exchange on the Sci-Tech Board to raise ¥2.8 billion (US$420 million) to progress its surgical robots. The funds raised from the IPO would go toward research and development of the surgical robots, manufacturing, marketing and academic promotion, as well as replenishing working capital. The company also plans shareholder dividend distribution plans within three years following the IPO listing.

University of Edinburgh spinoff Biocaptiva Ltd. has raised an additional $2.6 million (£2.1 million) in seed financing for its cell free DNA (cfDNA) capture device, Biocaptis. Business angel syndicate Archangels led the round, with participation from Scottish Enterprise and Cancer Research Horizon, the innovation engine of Cancer Research UK. 

A start-up rival to Illumina Inc. has emerged from stealth mode, debuting a new low-cost gene sequencing platform, the UG 100. Ultima Genomics Inc. has raised approximately $600 million from investors including General Atlantic, Andreessen Horowitz, D1 Capital and Khosla Ventures to scale development of the whole-genome sequencing, single-cell sequencing technology. Initial data using the platform to sequence more than 200 human genomes will be presented at the upcoming Advances in Genome Biology and Technology (AGBT) conference.

Healthquest Capital Management Co. LLC closed its oversubscribed fourth fund at its hard cap of $675 million, positioning the equity firm to ramp up its investment at the “convergent points between medical technologies, diagnostics/tools, digital health and innovative services,” the company said.