New Horizon Health, China's first biotech company to focus on early-stage cancer screening, today announced the completion of a 30 million US dollars Series E financing round, led by Rock Springs Capital, with participation from OrbiMed, Rock Springs Capital, Cormorant Asset Management, CR-CP Life Science Fund, Octagon Capital and existing investor Qiming Venture Partners.
To date, the total capital raised by New Horizon Health is over 160 million US dollars. Proceeds from the latest financing round will be used for business development, new product R&D, clinical research and commercialization.
Founded in 2013, New Horizon Health has set medical testing laboratories in Beijing, Hangzhou, and Guangzhou.
It has launched at-home cancer screening products for intestinal cancer, cervical cancer, gastric cancer and lung cancer, serving more than three million customers. These products allow users to sample at home to discover signs of cancer, and therefore improve the chance of full recovery via simple treatment.