Chinese precision health start-up raises USD20 mn
09-Aug-17, China Money Network
Chinese venture capital firm Qiming Venture Partners has led a USD20 mn financing round in New Horizon Health, a Chinese precision health start-up focused on developing early-stage cancer screening technologies.
%20China%20Money%20Network.jpg "Chinese precision health start up raises USD20 mn (c) China Money Network")
Image: China Money Network
Chinese investment firms Legend Capital, SoftBank China and others also participated in the round, which will be used to finance New Horizon Health’s research and development of early-stage cancer screening products with a focus on gastrointestinal cancer.
The company will also strive to establish big data and artificial intelligence capabilities to aid its development of next-generation cancer screening tech.
In 2015, 4.3 million new cancer cases were recorded and 2.8 million people died from cancer in China. China accounts for 22% of the world’s new cancer cases and 27% of cancer death.