It was another short work week due to the New Year’s holiday, but there were still two deals that attracted significant capital for the week ending January 3.
The Alts Watch Healthcare Beat tracks weekly investor activity in the life sciences arena including biotech, medical devices and technology. This past week a Chinese healthcare portal raised a significant sum, while 23andMe saw another round of financing.
Below are the details on these two deals that total nearly $600 million.
- The deal: $500 million Series E financing.
- The players: The financing round was led by Shanghai-based Trustbridge Partners and followed by Tencent Investment and Hillhouse Capital’s early staged focused GL Ventures.
- The play: DXY is a digital healthcare technology company in China. Founder and Chairman of DXY Li Tiantian said that the company will, driven by both two ends — physicians and the public, strengthen collaboration with professional doctors and enterprises.
- The deal: Raised $85 million in December.
- The players: Reportedly, the DNA testing company raised capital from Sequoia Capital and NewView Capital.
- The play: The company reported that more than 80% of 23andMe’s 12 million customers have agreed to participate in drug discovery research. The company has also taken on a role in helping with COVID-19 research.