NeoCura has secured 500 million yuan ($78 million) Series A+ capital. In a separate development, Xiaomi has led a funding round in AI medical management platform Synapsor.
NeoCura nets $78m in Series A+ round
Biotech firm NeoCura has secured 500 million yuan ($78 million) in a Series A+ round.
The lead investors are state-backed PICC Group’s alternative investment arm PICC Capital Insurance Asset Management and Yahui Zhou, an entrepreneur-turned individual investor. Other backers in the round include CDH Investments, Shunxi Fund and Jiayin Fund.
NeoCura plans to use a part of the corpus to work on its virus vaccines, while the remaining will be used to spruce up its AI platform, besides developing its drug R&D, and constructing a manufacturing base, among others.
The Shenzhen-headquartered company was established in 2017, with a focus to develop RNA drugs. NeoCura supplies molecular diagnostic products – it helps with early detection and diagnosis of tumors and provides guidance and treatment evaluation.
Last year, NeoCura raised 250 million yuan ($39 million) in its Series A round led by Kunlun Fund with the participation from IDG Capital, Alwin Capital and Skycus Capital.
Xiaomi invests in Synapsor
AI medical management platform Synapsor has pocketed ‘tens of millions of US dollars’ in a new round of financing led by returning investor Xiaomi Corporation, per a company statement on Tuesday.
Source Code Capital, also an existing investor, has topped up. The round also saw the participation of Xiaomi’s venture capital unit Shunwei Capital as a new investor.
At the beginning of this year, Xiaomi and Source Code Capital had invested in Synapsor’s in pre-Series A round.
Synapsor will utilize the fresh proceeds to advance flagship products, production capacity, as well as business development in and out of China.
Zhihua Wang who graduated from University of Oxford and University of Cambridge, founded Synapsor in 2015. It specializes in chronic diseases management, and AI-powered wearable devices.