More than 500 VC / PE medical investment full picture!

Narrow funds, cool heat, conservative, rational, polarized These high-frequency words in investment interviews also indicate that the turning point of medical investment has emerged "The fundraising was cold and restless, but it was also lively." For the medical investment in the first half of 2019, a well-known PE investor gave such a comment According to incomplete statistics of the investment community, in the first half of 2019 (H1), there were 272 financing events in the medical and health industry, with a total financing amount of nearly 30 billion yuan Compared with 412 events in the first half of 2018 and the financing amount of 65.4 billion yuan, the financing amount was nearly cut The false fire is gradually fading, but it is undeniable that medical health is still one of the circuits that VC / PE is betting heavily on this year According to incomplete statistics, in 2019h1, more than 500 VC / PE companies participated in the investment in this industry, among which IDG capital, Sequoia China, Yuansheng venture capital, Zhongguo venture capital, Huagai capital, Junlian capital, Lilly Asia Fund, Gao Tejia, power capital, Sherpa investment and CICC capital were the most active In terms of exit, there are 20 medical enterprises applying for listing on the Hong Kong Stock Exchange alone in 2019h1 According to the statistics of the investment community, only two of the 20 enterprises have no VC / PE support behind them, and the remaining 18 investors are numerous, including Hillhouse capital, Sequoia China, Boyu capital, Qiming venture capital, Huaping investment, CDH investment and other head institutions, with the number of VC / PE exceeding 100 Where's all the money? Since more than 500 VC / PE invested nearly 30 billion in medical treatment in 2018, the difficulty of VC / PE fundraising has been transmitted to the project end On the whole, the financing situation of 2019h1 is not optimistic, but the field of medical health is still on the top 3 of "attracting money" Especially in May this year, a large number of funds poured into the biotechnology / healthcare industry, involving an investment of 12.352 billion yuan, ranking first in all industries According to incomplete statistics of the investment community, 272 financing events occurred in the domestic medical and health industry in the first half of 2019, involving more than 500 VC / PE companies, with a total financing amount of nearly 30 billion yuan, mainly focusing on such subdivisions as innovative drugs, biotechnology, medical devices, medical informatization, medical services, pharmaceutical retail and health management Specifically, innovative drugs are still the "play" of attracting gold and the focus of long-term capital attention In addition, biotechnology represented by regenerative medicine, gene detection, gene therapy and cell therapy has become the most popular The investment community found that nearly 14 billion yuan was invested in biotechnology and medicine, accounting for almost 1 / 2 of the total financing Medical services are still favored, absorbing about 7 billion yuan of financing, and dental, ophthalmology, medical beauty, TCM chain, assisted reproduction, rehabilitation, pain, daytime operation center, etc are all hot investment spots Medical devices involve interdisciplinary fields, with the unique attribute of "science and technology + medical treatment", which is also one of the areas where capital is continuously optimistic at present, with a financing of more than 2 billion yuan At present, the hot track of medical devices mainly focuses on IVD, high-value medical consumables, medical imaging, robots, etc In addition, AI, big data, cloud computing and other medical information companies are also the focus of capital pursuit, financing nearly 2 billion yuan From the perspective of rounds, in the first half of 2018, the financing of medical and health industry is still dominated by early projects, with seed, angel and a rounds accounting for 58% However, angel round projects decreased significantly and large amount financing increased It can be seen that the industry tends to mature, the investment is concentrated to the top players, and the frequency of strategic investment is gradually increasing For example, in the field of biotechnology and pharmaceutical, there were many large financing events in the first half of 2019, including 1.18 billion yuan from Ellis pharmaceutical, 147 million dollars from Haihe bio, 900 million yuan from Lepu bio, and 850 million yuan from burning stone medicine In the field of medical services, there are also two huge financing projects - Alibaba health HK $2.27 billion and Penguin almond US $250 million It is worth mentioning that the single financing volume of domestic medical enterprises has reached a new high, and Jingdong health has received more than $1 billion in capital injection On May 9, 2019, JD reached a final agreement with cpechina fund, CICC capital, baring Asia and other investors on the financing of JD health's series a preferred shares After the completion of the financing, JD is still the controlling shareholder of JD health In terms of the frequency of VC / PE medical investment, in the first half of 2019, more than 500 investment institutions participated in the investment of medical and health industry, and IDG capital participated in 7 financing activities, with the largest number of investors Second, there were six Yuan Sheng ventures, five of which were China venture capital, Huagai capital, Junlian capital, Lilai Asia Fund, power capital, Sherpa investment and CICC capital, four of which were Sequoia China, daotong investment and gaotejia investment In addition, Songhe capital, cornerstone capital and Shenzhen Venture Capital were also relatively active Tongxin Medical Co., Ltd., SinoPac and skilled doctors have obtained two rounds of investment in only half a year More than 100 VC / PE companies have harvested 10 medical IPOs at a high potential Since the new deal of Hong Kong Stock Exchange in 2018, the "action" of medical enterprise IPO has attracted much attention Now, as soon as the science and technology innovation board is opened, there is no doubt that a new exit channel has been opened, and the battle for listing has already begun According to incomplete statistics from the investment community, in the first half of 2019, there were 20 medical industry enterprises submitting listing applications only on the Hong Kong stock exchange, involving biopharmaceutical, CRO, assisted reproductive services, pension services and other fields, and 14 came from the sub track of biopharmaceutical Up to now, 11 enterprises have completed IPO, with an average of 2 IPOs per month Biopharmaceutical Enterprises have always been "hot spots" in the capital market, with the largest number of enterprises successfully listed In 2018, a number of companies including Geli pharmaceutical, Baiji Shenzhou, Xinda biology, Hualing medicine and Junshi biology have been listed In 2019, cornerstone pharmaceutical, kangxinuo biology, Mabo pharmaceutical and Hansen pharmaceutical took the lead in IPO In addition, more than 10 pharmaceutical companies have filed listing applications on the Hong Kong stock exchange, including Fuhong Hanlin, Yasheng pharmaceutical, Dongyao pharmaceutical, Hehuang China pharmaceutical, Tianshili biology, Contini pharmaceutical, China antibody pharmaceutical and Corning Jerry According to the statistics of the investment community, only two of the 20 enterprises have no VC / PE support behind them, and the remaining 18 investors are numerous and relatively scattered, including the top institutions such as Hillhouse capital, Sequoia China, Boyu capital, Qiming venture capital, Huaping investment, CDH investment, etc., and the number of VC / PE exceeds 100 In the first half of 2019, Hillhouse capital ushered in a concentrated outbreak in the medical field From January to now, in addition to the listing of cornerstone pharmaceutical, Hansen pharmaceutical, Fonda holdings and Jinxin reproductive in Hong Kong stock market, bridgebio Pharma, akero, nextcure, zoom, covetrus and gossamer bio have been listed overseas, with 10 IPO companies Sequoia China has two listed medical companies, namely cornerstone pharmaceutical and Jinxin reproductive, Qiming venture capital has two listed medical companies, namely kangxinuo biology and Fangda holding, Boyu capital has two listed medical companies, namely cornerstone pharmaceutical and Hansen pharmaceutical, and CDH investment has become the only external investor of MyBO pharmaceutical In addition, Yuanhe origin, Yuansheng venture capital and other institutions also set up two medical enterprises, all of which have been IPO or submitted for listing on the Hong Kong stock exchange In terms of specific stocks, the market value of cornerstone pharmaceutical, Hansen pharmaceutical and Jinxin pharmaceutical exceeds 10 billion Hong Kong dollars, of which Hansen pharmaceutical has a market value of more than 100 billion Hong Kong dollars, which soared on the first day of listing It rose nearly 50% in the first session, and then rose 36.75%, becoming the largest pharmaceutical stock in the market value of Hong Kong stocks Among the 11 listed companies, 7 companies, including Hansen pharmaceutical, Jinxin reproductive, viabio, Fangda holding, Aoyuan health, kangxinuo biology, and cornerstone pharmaceutical, all achieved the first day's share price rise As the only vaccine R & D and production company, kangxinuo bio's share price rose the most, with data from the Hong Kong Stock Exchange showing that its share price peaked at HK $45.75 Conclusion in the first half of 2019, the beginning of the medical and health capital market does not seem inferior However, when investors rush to buy a "ship ticket", not every enterprise is lucky, and the IPO speed of the medical industry has not been accelerated because of the hot market, instead, it is more prudent Narrow funds, cooling heat, conservatism, rationality, polarization.. These high-frequency words appeared in the interview of the investment community also indicate that the turning point of medical investment has appeared Original title: over 500 VC / PE companies in mid year, nearly 30 billion yuan, full picture of medical investment!