2018H1 Healthcare Industry Investment and Financing Report: Large-scale financing, hot medical field, and few early projects

According to the statistics of the arterial network database, 2018H1, there were 513 financing events in the global medical and health industry, and the financing amount exceeded US$14 billion. Among them, there were 295 financing incidents in the domestic medical and health industry, a slight increase of 7% year-on-year, financing amounted to 5.5 billion US dollars, an increase of 1.35 times compared with the same period of the previous year. The pharmaceutical, primary care and biotechnology fields attracted the most, and the financing amount of the three exceeded. 60% of the total amount of financing in various fields.

Report main point

The investment grew steadily, and the large-scale financing contributed 81% year-on-year growth rate;

The fields of medicine, primary care, and biotechnology are the most popular, and financing in the distribution channels and medical support fields is cold;

The proportion of early financing projects continued to decrease, and the proportion of mature projects reached a historical peak;

The largest amount of financing in the pharmaceutical field, large-scale financing occurred in the primary care, consumer medical, biotechnology, medicine, science and technology medical fields;

Beijing financing is the most active, and over 80% of financing events occurred in North, Shanghai, Guangzhou, Zhejiang and Jiangsu;

Sequoia, Jingwei and Qiming are the most active, and the most popular in the fields of biotechnology, consumer medicine, and science and technology;

The overall financing in the fields of biotechnology, medicine and medical devices is higher, and the amount is larger.

Investment in steady growth, super-large financing contributed 81% year-on-year growth rate

In 2018H1, there were 295 financing incidents in the domestic medical and health industry, which increased by only 7% year-on-year, and did not reach the level of the heyday of 2015 and 2016.

2018H1, the domestic medical and health industry financing amount of 5.46 billion US dollars, a substantial increase of 1.35 times, a record high in the domestic health care industry in the first half of the year, thanks to primary care, consumer medical, biotechnology, medicine Seven large amounts of financing in the field of science and technology and medical care exceeding RMB 1 billion. The financing amount of 7 large-scale financing exceeded 1.8 billion US dollars, contributing 81% growth rate.

Financing averages rose steadily

In 2018H1, the domestic medical and health industry financing balance fell slightly, to 18.51 million US dollars. Compared with the average financing in recent years, the average amount of 2018H1 financing has increased significantly.

The proportion of early financing projects continued to decrease, and the proportion of mature projects reached a historical peak.

In 2018H1, the proportion of early financing projects in the domestic medical and health industry continued to decrease, with the seed and angel round projects accounting for 58%, the lowest in nearly five years.

2018H1, the domestic medical and health industry mature project financing activity increased, the number of financing projects in C round, D round and above and their proportion reached a historical peak, respectively 29, 9.8%.

2017H1VS2018H1: Increased activity of medical devices and biotechnology financing, medical finance, maternal and child health financing contraction

Compared with 2017H1, except for the number of financing events in the previous February, which was basically the same as 2017, the other months exceeded 2017, and the overall financing activity increased significantly.

Whether it is 2017H1 or 2018H1, the number of financing events in medical devices, biotechnology, medical informatization and medicine is among the highest. This reflects the capital's preference for the above areas. Compared with 2017H1, the number of financing events in the medical equipment, biotechnology, medicine, and consumer medical fields of 2018H1 has increased significantly, and the number of financing events in medical finance, maternal and child health, pharmaceutical machinery sales, and large health fields has dropped significantly.

2017H1VS2018H1: The scale of financing has increased substantially, and the performance of medicine, primary care and biotechnology has been outstanding.

Compared with 2017H1, 2018H1, except for the decrease in financing amount in February, the financing finance in the remaining months exceeded 2017.

Whether it is 2017H1 or 2018H1, the amount of financing in the fields of medicine, primary care and biotechnology is outstanding. Compared with 2017H1, 2018H1, except for the medical amount and the amount of financing in maternal and child health, the amount of financing in other fields exceeded 2017, among which the financing amount in medicine, primary care, biotechnology and consumer medical fields increased significantly.

2017H1VS2018H1: The proportion of early projects decreased, and the proportion of mature projects increased

Compared with 2017H1, the proportion of early projects in the domestic medical and health industry decreased by 2018H1. The proportion of seed and angel rounds and A rounds decreased from 69% to 58%, while the proportion of mature projects increased from 7% to 9.8%.

The pharmaceutical, primary care, and biotechnology fields have the most gold, and the medical equipment and medical information fields have outstanding performance.

2018H1, in the various segments of the domestic medical and health industry, medical equipment, biotechnology, medical information, and pharmaceutical financing are fierce. The total number of financing events in the four is over 60% of the total number of financing events, while circulation channels, medical support, medical tools, In the maternal and child health sector, the financing was cold, and the total number of financing events for the four was only 4% of the total number of financing events.

The amount of financing in the fields of medicine, primary care and biotechnology ranked in the top three, and the total amount of financing of the three exceeded 60% of the total financing amount.

The single transaction in grassroots medical care, distribution channels, and pharmaceuticals has the highest average amount, both exceeding $30 million. It is worth mentioning that in the primary medical field, there is a largest pre-IPO financing in China's medical health technology industry – the micro-medical PreIPO round of financing of 500 million US dollars.

There are many early projects in the field of medical devices and medical informatization, and the proportion of early projects in the field of health care is large.

In 2018H1, the domestic medical and health industry financing is still dominated by early projects, and the seed and angel round and A round financing accounted for 58%.

The earliest projects in the medical device, medical informatization, biotechnology, and pharmaceutical fields were the largest, and the number of early financing projects exceeded 20, while the new projects in the fields of medicine, biotechnology, health, and medical information were the most.

The proportion of early projects in the fields of seeking medical consultation, big health, rehabilitation nursing, and maternal and child health was the highest, accounting for more than 75%, while mature projects in medical support and medical tools accounted for the top.

Large amount of financing in the pharmaceutical field

2018H1, the domestic medical and health industry financing TOP10 project financing amount exceeded 100 million US dollars, the financing round is behind. The financing TOP10 project is distributed in the fields of primary medical care, consumer medical care, biotechnology, medicine, science and technology and medical care. Among them, the largest financing projects in the pharmaceutical sector, the financing TOP10 project accounted for 5 seats.

2018H1 domestic medical health industry financing TOP10

Micro doctor

Micromedicine is China's leading mobile Internet medical health service platform, created by Liao Jieyuan and his team in 2010. With Internet technology, Micromedicine provides Internet medical and membership services for hundreds of millions of users in China, such as appointment registration, online consultation, remote consultation, electronic prescription, and drug distribution. On May 9, 2018, Micromedical announced the completion of a $500 million Pre-IPO round of financing with a valuation of $5.5 billion. This round of financing has set a record for the largest pre-IPO financing in China's healthcare technology industry.

Baibo oral

Baibo Dental Medical Group is a leading non-public oral medical group in China. Founded in 1993 by the founder Mr. Li Changren, it currently has more than 200 dental institutions in more than 50 cities including Beijing, Shanghai, Guangzhou and Shenzhen. . On June 15, 2018, Taikang Life Insurance announced that it will invest RMB 20.6236 billion in 51.56% equity interest in Baibo Medical. After the shareholding, Taikang will provide funds, customers, brands and products to Baibo Dental, and continue to use its own advantages to provide support for marketing, talent training, discipline construction, product development, etc., while integrating IT, Supply chain, property and other resources, all-round empowerment.

Cornerstone medicine

Keshi Pharmaceutical (Suzhou) Co., Ltd. is a bio-pharmaceutical company dedicated to the development of a new generation of innovative drugs, mainly focusing on the development and combined treatment of tumor immunopharmaceuticals. Currently there are more than 10 research products, 4 of which have been in the sea. Start clinical trials inside and outside. On May 9th, 2018, Keshi Pharmaceutical announced that it has completed the investment of 260 million by the sovereign wealth fund Singapore Government Investment Corporation (GIC), Sequoia Capital China Fund, Yunfeng Fund, Tonghe and Chengcheng Capital. US dollar (about 1.65 billion yuan) B round of financing. Created the largest single financing record in the B round of China's biomedical field.

Meizhong Jiahe

Beijing Meizhong Jiahe Hospital Management Co., Ltd. is a network of cancer clinics under the Taihecheng Medical Group and an operator of chain independent medical institutions based on radiotherapy, focusing on the field of tumor imaging diagnosis and radiation therapy. On April 3, 2018, the US-China Jiahe announced that it has obtained a strategic investment of 1.5 billion to 1.7 billion yuan from a number of investment institutions led by CICC Capital.

Heavenly creature

Tianjing Biotechnology (Shanghai) Co., Ltd. is an innovative drug research and development company focusing on the field of tumor immunity and autoimmune diseases. Up to now, there are more than 10 biopharmaceuticals in Tianjin. On June 29, 2018, Tianjing Bio announced that it had completed the 220 million US dollars C round of financing led by Hony Capital, Gaochun Capital, Houpu Investment, and CDH Investment. This is the Chinese innovative drug field so far. One of the biggest financing rounds.

Beijing financing is the most active, and over 80% of financing events occurred in North, Shanghai, Guangzhou, Zhejiang and Jiangsu.

2018H1, domestic medical and health industry financing events are distributed in 17 provinces including Beijing, Shanghai and Guangdong. The financing in Beijing area was the most active, and the number of financing events and financing amount ranked first. The number of financing events accounted for 28% of the total number of financing events in 2018H1, and the financing amount accounted for 26% of the total amount of financing of 2018H1.

The top five provinces with the most active financing are Beijing, Shanghai, Guangdong, Zhejiang and Jiangsu. The number of financing events in the five provinces exceeded 30, and the amount of financing exceeded US$800 million. The number of financing events and financing amount far exceeded those of other provinces. Moreover, the total number of financing events in the five provinces accounted for 88% of the total number of financing events in 2018H1, and the financing amount accounted for up to 94% of the financing amount of 2018H1.

Sequoia, Jingwei and Qiming are the most active, and the most sought after in biotechnology, consumer medical, and scientific and medical fields.

2018H1, a total of 410 investment institutions in the domestic healthcare industry. Among them, Sequoia, Jingwei, Qiming, Softbank, CDH, Honghui, Junlian and Shenzhen Venture Capital are the most active. Eight active investment institutions are involved in the fields of biotechnology, medicine, consumer medicine, science and technology, and the like, and they have invested in biotechnology, consumer medical, and scientific and medical fields, with 8 cases, 7 cases, and 6 cases respectively.

The overall financing in the fields of biotechnology, medicine and medical devices is higher, and the amount is larger.

2010H1—2018H1, the domestic medical and health industry, the overall financing of distribution channels, medical finance, medical support and other fields, the financing amount is small, while the overall financing in biotechnology, medicine, medical equipment and other fields is relatively backward, and the financing amount is relatively large.

Financing projects and financing amount both fell back

In 2018H1, there were 218 financing incidents in the foreign medical and health industry, a year-on-year decrease of 48%, and the financing amount exceeded US$8.6 billion, down 14% year-on-year. The financing projects in biotechnology, medical information, medical equipment, and science and technology fields were greatly reduced.

Financing average continues to grow

In 2018H1, the average financing of the foreign medical and health industry increased steadily, reaching US$39.47 million.

The proportion of early projects continued to decrease, and the proportion of mature projects decreased.

Comparing the distribution of financing rounds in foreign medical and health industries over the years, it can be found that the proportion of 2018H1 seeds and angels and A rounds continued to decrease, reaching a minimum of nearly 4 years, which was 45%.

In 2018H1, the proportion of mature projects in the foreign medical and health industry has decreased. The proportion of C-round, D-round and above projects is 12%, which is the lowest level in the past three years.

Biotechnology, medicine, medical equipment, the most gold

2018H1 Foreign medical and health industry, biotechnology, medical informatization, medical equipment field financing is active, the total of the three financing events accounted for 59% of the total number of financing events in 2018H1, while the financing of medical finance, maternal and child health, rehabilitation care is cold, three The total number of financing events accounted for only 3% of the total number of financing events in 2018H1.

Biotechnology, medicine, and medical devices accounted for the most gold. The financing amount of the three companies accounted for 72% of the 2018H1 financing amount, while the financing amount of medical tools, rehabilitation care, and consumer medical care was not satisfactory.

Most of the early projects in the fields of biotechnology and medical information

2018H1, foreign medical and health industry seeds and angels round, A round of projects accounted for 45%, compared with the domestic (58%), the proportion is lower.

The earliest projects in the fields of biotechnology, medical informatization, and science and technology have been the largest, with more than 15 projects. Among them, medical informatization and biotechnology are the most new projects.

Maternal and child health, medical consultation, and early-stage projects in the field of science and technology are at the top of the list, accounting for more than 60%, while mature projects in medical finance, medical devices, and large health sectors account for the highest proportion. 15%.

Largest financing projects in biotechnology

2018H1, the foreign medical and health industry financing TOP10 project financing amount is more than 150 million US dollars. The financing TOP10 project is distributed in the fields of primary medical care, biotechnology, medical finance, medical equipment, medical informatization, and medicine. Among them, the largest financing projects in the biotechnology field are the largest, and the financing TOP10 projects account for 5 seats.

2018H1 domestic medical health industry financing TOP10

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