HONG KONG – Wuxi Diagnostic Investment (Cayman) Ltd. has raised $150 million in a series B financing round, while netting a number of new investors along the way. The new investors to come on board include Thermo Fisher Scientific Inc., Shiyu Capital, ABC International Holdings Ltd., Sunland Capital and CCBI Tech Venture.

HONG KONG – The third pre-revenue med-tech firm to list on the Hong Kong Stock Exchange in a month, New Horizon Health Technology Co. Ltd. raised HK$1.9 billion (US$245.08 million) in an IPO that began trading Thursday, Feb. 18. New Horizon placed 76.6 million shares at HK$26.66 apiece and said part of the funds will help the company commercialize its FIT-DNA test Coloclear to screen for colorectal cancer.

Ascendum Capital, a health care-focused investment platform founded in 2020, acquired the majority of the shares of a developer of a disposable robotic system designed to navigate tricky vascular passages for an undisclosed amount. Yehuda, Israel-based Endoways Ltd. developed the technology in the Medx Xelerator and will move to Dinova Medtech’s Israeli incubator until its catheter laboratory-focused robot launches for commercial use.

LONDON – The World Health Organization’s (WHO) mission to Wuhan has rejected accidental laboratory escape as the source of the SARS-CoV-2 pandemic, but failed to uncover satisfactory evidence of its exact origin.

Suzhou Basecare Medical Corp. Ltd., a genetic test developer for assisted reproduction, raised HK$1.82 billion (US$235 million) in an initial public offering on the Hong Kong Stock Exchange on Feb. 8, with shares opening nearly 10% higher. The IPO will support the company to continue to develop pre-implantation genetic (PGT) testing products for assisted reproduction.

Chinese heart valve specialist Microport Cardioflow Medtech Corp. (HKEX:2160) launched an IPO in Hong Kong on Feb. 4, raising HK$2.5 billion (US$324 million) by issuing 205.62 million shares at HK$12.20 apiece. With J.P. Morgan, Citi and CICC backing the IPO, the stock opened at HK$21.50, up 76% from the offer price. The pre-revenue med-tech firm, spun off from Microport Scientific Corp. in 2020, develops transcatheter aortic valve implantation (TAVI) products for valvular heart diseases, and is especially known for its Vitaflow series.

Illumina Inc. and Sequoia Capital China are collaborating to launch a startup ecosystem in China. The Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina, will support life sciences startup companies in the field of genomics. Illumina for Startups will offer sequencing systems and reagents, lab space in China, and expertise. Sequoia Capital China will provide investment and business guidance.

A Swiss diagnostics company is looking to tap into China’s vast patient pool to validate its diagnostic test for prostate cancer. Schlieren-based Proteomedix AG inked a partnership with Zhengzhou University Henan Cancer Hospital in China to validate its Proclarix diagnostics test in the local population.

When it comes to leveling the playing field for foreign-based biopharma and medical device companies, China has made a lot of promises, but delivering on those promises is what matters. Throughout its annual assessment for Congress of China’s commitment to World Trade Organization principles, the U.S. Trade Representative (USTR) noted the many promises China has made over the years that have yet to be kept.

HONG KONG – Aprinoia Therapeutics Inc. is poised to start phase III clinical trials for its positron emission tomography (PET) imaging tracer 18F-APN-1607 in China, after receiving the green light from the National Medical Products Administration.