HONG KONG – Venture capital investment into most sectors in China has generally plunged throughout the COVID-19 pandemic but biotechnology has been a noticeable exception. China’s biotech industry has continued to attract investors, not only because of its importance in dealing with the pandemic but also as a result of increased maturity and a growing list of government incentives.
Biopharmas in Asia-Pacific raising money in public or private financings, including: Anheart, Curevac, Myovant Sciences, Sumitomo Dainippon, Taiwan Ministry of Health and Welfare, Tiziana Life Sciences, Transgene, Tasly, U.S. Department of Health and Human Services.
Cryoablation technology firm Icecure Medical Ltd. raised $6 million (₪20.7 million) in an oversubscribed equity offering. The Caesarea, Israel-based company (TASE:ICCM) plans to use the funds for continued expansion of operations in the U.S., Europe and Asia.
Sight Diagnostics Ltd. raised $71 million in series D financing to expand its commercial operations and increase research and development efforts into disease detection from its fingerprick blood analyzer Sight OLO.
On-demand mental health company Ginger.io scooped up $50 million in a series D round that was led by Advance Venture Partners and Bessemer Venture Partners. Participants also included Cigna Ventures and existing investors such as Jeff Weiner, executive chairman of Linkedin, and Kaiser Permanente Venture.
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