The Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF) has raised more than half of its proposed ¥2 billion (US$313 million) round. “The second fund, GIBF2, will focus on Israeli and European biotechnology companies, which are developing innovative drugs and are in phase II to III clinical trials,” Avner Lushi, the CEO and co-founder of the GIBF, told BioWorld.
The amount of money raised by medical technology companies in 2021 has dropped by about 26% in comparison with the same timeframe last year, although amounts from IPOs and venture capital rounds have more than doubled. By this point in 2020, $31.48 billion was raised through 282 transactions, while 2021 has so far brought in $23.3 billion through 311 financings, a 10% higher volume.
Suzhou-based Intocare Medical Technology Co. Ltd. raised up to ¥100 million (US$15.66 million) in a series D funding round led by Qiming Venture Partners. Oriza Holdings, Oriza FOFs and Yuanbio Venture Capital also participated in the round. The company said the proceeds would be used for product R&D, clinical research, marketing promotion, and the launch of new offices and production sites.
Synchron Inc. landed $40 million in new funding through a series B fundraising round led by Khosla Ventures. This round brings the total amount raised by the company to $59 million since its founding in 2016. Other participants in the round included Forepont Capital Partners, ID8 Investments, Shanda Group, General Advance, Subversive Capital, and Re.mind Capital as well as Arani Bose and Thomas Reardon. Returning investors included Neurotechnology Investors, Metis Innovative, and the University of Melbourne.
Myra Vision Inc. has raised $17 million in series A financing and intends to use the funds to advance product development, scale infrastructure and expand its team in support of the glaucoma treatment device’s development. Its name was changed from Myra Medical Inc. along with the financing.
Esco Lifesciences Group Ltd. has closed what it claims to be the largest private fundraising round by an Asia-based life sciences tools company. The Singapore-headquartered life sciences product company raised $200 million in an oversubscribed series A and crossover round. The financing was led by Vivo Capital and Novo Holdings A/S, with participation from new investors, including China Investment Corp. and Singapore-based global investor EDBI.
Borrowing a chapter from venture capitalists, the U.S.’ Biomedical Advanced Research and Development Authority (BARDA) is partnering with the nonprofit Global Health Investment Corp. (GHIC) to accelerate the development and commercialization of medical technologies and products needed to respond to or prevent future pandemics and other public health emergencies.
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