StartupHealth-2019年Q3医疗保健初创企业投资报告（英文）-2019.10-20页_3mb

2019 Q3 StartUp Health Insights Summary

Core Content

This report provides a detailed overview of health innovation funding trends in Q3 2019, highlighting the progress and challenges in various health moonshots. It emphasizes the importance of patient-centric innovation and the role of collaboration in driving change in the health sector.

Key Takeaways

• Total Funding: Health innovation companies raised $10.4B year-to-date in 2019, placing the year on track to be the second most-funded year in history.
• Patient Focus: Despite a typical post-summer dip in funding, patient empowerment remained a top priority, with $420M invested in Q3.
• Market Trends:
  • Population Health saw the highest growth in funding, with a 200% increase in Q3 and $1.2B raised for the year.
  • Women's Health and Access to Care continued to see strong funding growth, with $4.5B and $1.5B respectively.
  • Addiction and Cancer had notable increases in deal volume, with 223% and 113% jumps respectively.

Key Markets and Funding Highlights

• Population Health:
  • $720M in Q3, contributing to a $1.2B total for the year.
  • Babylon Health's $550M raise accounted for 35% of total funding for this moonshot.
• Women's Health:
  • $295M YTD, with a 66% YoY increase in funding and 65% more deals.
• Access to Care:
  • $1.5B across 101 deals, historically the most funded moonshot.
• Addiction:
  • $223% increase in funding, with a 100% increase in deal count.
• Cancer:
  • $832M in Q3, with 34 deals YTD.
  • 65% of deals were early-stage, showing continued innovation in this space.

Funding Distribution by Function

Largest U.S. Deals (Q3 2019)

1. Babylon Health - $550M (Population Health)
2. Capsule - $200M (Patient Empowerment)
3. Fremenome - $160M (Research)
4. Recursion Pharma - $121M (Research)
5. VillageMD - $100M (Population Health)
6. One Drop InforMed Data Systems - $40M (Patient Empowerment)
7. Notable Labs - $40M (Clinical Workflow)
8. Insilico Medicine - $37M (Research)
9. Exo Imaging - $35M (Personalized Health)
10. Ginger.io - $35M (Wellness)

Largest Non-U.S. Deals (Q3 2019)

1. Babylon Health - $550M (Population Health)
2. AllinMD - $100M (Admin Workflow)
3. Healthy.io - $60M (Biometric Data Acquisition)
4. Intorem S.A. - $43M (Research)
5. AlayaCare - $39M (Clinical Workflow)
6. Synyi - $36M (Clinical Workflow)
7. AMBOSS - $33M (Education + Content)
8. Huimei Healthcare - $30M (Admin Workflow)
9. MDClone - $26M (Population Health)

Investor Activity

• Total Investors: 1,061 (87% of 2018 total).
• Most Active Investors:
  • Khosla Ventures and F-Prime Capital Partners each made 10 deals.
  • Tencent made 6 deals.
  • Maverick Ventures and Pi Ventures each made 4 deals.
• Top Investors by Moonshot:
  • Access to Care: 504 investors.
  • Cost to Zero: 409 investors.
  • Cure Disease: 389 investors.
  • End Cancer: 56 investors.
  • Women's Health: 71 investors.
  • Children's Health: 56 investors.

U.S. Innovation Hubs

Non-U.S. Innovation Hubs

Summary of Health Moonshots

• Access to Care:

  • YoY funding increase: 20%
  • Deal count increase: 34%
  • 65% of deals were early-stage, 30% mid-stage.
  • $550M raised by Babylon Health.

• Cost to Zero:

  • YoY funding increase: 15%
  • 59% of deals were early-stage.
  • Insurance was the highest funded function for the year.

• Cure Disease:

  • Funding: $1.2B YTD
  • Median deal size: $12M
  • 71% of deals were early-stage.

• End Cancer:

  • QoQ deal growth: 113%
  • 65% of deals were early-stage.
  • Focus on drug discovery and development.

• Women's Health:

  • YoY funding increase: 66%
  • Deal count increase: 65%
  • 71% of deals were early-stage.

• Children's Health:

  • Funding increase: 12%
  • 80% of deals were early-stage.
  • 56 investors, second lowest median deal size.

Quick Stats

• Total Deals (2019 YTD): 259

• Median Deal Size: $6.8M

• Investors: 504

• Most Active Investors: StartUp Health, Khosla Ventures, F-Prime Capital Partners, Tencent, Maverick Ventures

• Total Deals (Cost to Zero YTD): 194

• Median Deal Size: $9.2M

• Investors: 409

• Most Active Investors: F-Prime Capital Partners, Echo Health Ventures, Maverick Ventures, Edison Partners

• Total Deals (Cure Disease YTD): 135

• Median Deal Size: $12M

• Investors: 389

• Most Active Investors: Arch Venture Partners, F-Prime, GV, Khosla Ventures, Y Combinator, DCVC, Illumina Ventures

• Total Deals (End Cancer YTD): 34

• Median Deal Size: $12M

• Investors: 56

• Most Active Investors: StartUp Health, Khosla Ventures, F-Prime, Tencent, Maverick Ventures

• Total Deals (Women's Health YTD): 12

• Median Deal Size: $12M

• Investors: 71

• Most Active Investors: StartUp Health, Khosla Ventures, F-Prime, Tencent, Maverick Ventures

• Total Deals (Children's Health YTD): 12

• Median Deal Size: $12M

• Investors: 56

• Most Active Investors: StartUp Health, Khosla Ventures, F-Prime, Tencent, Maverick Ventures