PE Daily, 8/09/17
Hangzhou-based early-stage cancer detection and analysis firm New Horizon Health Technology has completed USD 20 mln in Series A+ funding from Qiming Venture Partners, Legend Capital, SoftBank China Venture Capital, and computer software developer Pudu Technology.
New Horizon said that it plans to expand upon its line of early cancer screening products, particularly for gastro-intestinal cancer. The company will also look to collect and integrate big data with artificial intelligence technology, to develop the next generation of the company's early cancer screening technology.
New Horizon, established in November 2015, integrates gene detection with molecular diagnosis technology, and uses online software and big data technology to create an early cancer detection management system. The company's mission is to improve patients' chances of being cured, reduce medical costs, and improve medical efficiency.
The company has already developed a product that can be used at home which analyzes genetic material from stool samples to detect intestinal cancer in the early stages. The product can detect problems up to five years before any serious complications, and the early warning allows doctors to treat the problem through surgery.
Based on the company's intestinal cancer detection product, New Horizon this year released stomach cancer detection technology.
New Horizon Health CEO Zhu Yeqing said that the company has research centers in Beijing and Hangzhou, and also operates a medical testing laboratory. The company has marketing partnerships with online healthcare companies We Doctor Group, Almond Doctor, and Jiankang 160.