The fundraising comes as the firm is weighing a Hong Kong initial public offering, the people said. The firm, which is backed by Alibaba Health Information Technology Ltd., is considering raising between $200 million and $300 million, said one of the people, who asked not to be identified discussing private information.
In 2015, ABG initiated, led and completed the US$3.3bn take-private of WuXi PharmaTech, a leading global life science service provider.(Bloomberg) - LinkDoc Technology Ltd., a Chinese medical data company, is seeking to raise money in a private fundraising, according to people familiar with the matter, after suspending plans for a July U.S. ABG has expertise in cementing strategic partnerships between emerging healthcare companies and industry leaders, and across different geographies between the United States, Europe and China. For more information, please visit Īlly Bridge Group ("ABG"), founded and led by Frank Yu (formerly a Managing Director of Goldman Sachs and Och-Ziff Capital), is a global healthcare-focused investment group managing over USD1 billion in assets with a portfolio of innovative healthcare companies in the United States, Europe and China. To-date the company has built a cloud-based repository of more than 400,000 oncology medical records covering all types of cancers. The company has established partnerships with more than 200 of China's top oncology hospitals for the collection, collation and analysis of cancer patients' medical records and clinical data. LinkDoc Technology Limited is a leading oncology big data company, based in Beijing, China. ABG will continue to leverage its global healthcare resources and expertise to help further enhance LinkDoc's leadership in China's healthcare big data sector, which also has important global implications." LinkDoc's strong oncology focus meshes well with ABG's portfolio of more than a dozen oncology drug development companies in the U.S., Europe and China. "The investment in LinkDoc highlights ABG's further commitment to investing in precision medicine and healthcare IT on a global basis, especially in the U.S. "Big data-driven personalized medicine has become an irreversible trend in global healthcare," said Frank Yu, Founder, CEO and CIO of Ally Bridge Group.
LinkDoc represents another important investment for ABG in the field of personalized medicine, after its recent investment in AltheaDx, a U.S.-based pharmacogenomics company.
The company is also working with pharmaceutical companies to leverage its database for drug development and marketing. LinkDoc empowers evidence-based, personalized cancer treatment in China by providing doctors with valuable analytics derived from its oncology database. Through its presence in more than 200 of China's major oncology hospitals, LinkDoc has built a rich repository of cancer patients' medical records and comprehensive clinical data and continues to expand its reach in terms of cancer types, data scope and patient base. Lung cancer, which LinkDoc has made a key area of focus, has emerged as a particularly prevalent disease. Cancer cases and cancer-related deaths are expected to reach an annual rate of 4.0 million and 3.5 million in China by 2020, respectively, according to estimates by the World Cancer Society.
#Sources chinabased linkdoc series#
HONG KONG, Ap/PRNewswire/ - Ally Bridge Group ("ABG"), a leading cross-border healthcare-focused investment group, is pleased to announce the completion of its Series B investment into LinkDoc Technology Limited ("LinkDoc" or the "Company"), a leading oncology-focused big data company in China, alongside other leading Chinese and international investors.Ĭancer is China's leading fatal disease, with a rapidly growing patient population and burgeoning treatment and management expenditures.
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