2019年Q3医疗保健初创企业投资报告_20页_2mb

2019 Q3 StartUp Health Insights Summary

Core Content

This report provides an overview of health innovation funding in the first three quarters of 2019, highlighting the progress and challenges in achieving health moonshots. It outlines the trends in funding, deal volume, and investor activity across various health sectors and regions.

Main Points

• Overall Funding:

  • Health innovation companies raised a total of $10.4B year-to-date in 2019, on track to be the second most-funded year in history.
  • Despite a typical post-summer dip, $420M was invested in health innovation companies focused on patient empowerment this quarter.
  • The U.S. and non-U.S. markets both showed activity, with San Francisco Bay Area, Boston, and New York City leading in the U.S. and Beijing, Paris, Tel Aviv, and Bangalore in non-U.S. regions.

• Key Markets:

  • Population Health saw a 200% increase in funding, bringing in $720M in Q3 and $1.2B for the year.
  • Women's Health and Access to Care continued to see strong growth, with $4.5B and $1.2B raised respectively.
  • Addiction and Cancer had notable increases in deal volume, with 100% and 113% jumps in QoQ deal counts.
  • Mental Health & Happiness also saw a significant increase in deal volume, indicating a maturing market.

• Investor Activity:

  • StartUp Health was the most active investor with 13 deals year-to-date.
  • Khosla Ventures and F-Prime Capital Partners each had 10 deals, while Tencent also had 10 deals.
  • The Access to Care Moonshot had the most investors (504) and was the most lucrative by funding and deal count.
  • Cost to Zero and Cure Disease also showed strong growth, with Cost to Zero seeing a 15% YoY increase in funding and Cure Disease raising $1.2B in research.

• Deal Distribution:

  • Early-stage deals dominated in several moonshots, particularly in Women's Health (71%), Cost to Zero (59%), and Cure Disease (lowest early-stage percentage but highest median deal size).
  • Late-stage deals were more prominent in Cancer and Mental Health & Happiness, indicating maturity in these areas.
  • Population Health had the highest number of deals and was the most funded function in Q3.

• Top Deals:

  • U.S. Top Deals included Babylon Health ($550M), Capsule ($200M), Fremenome ($160M), Recursion Pharma ($121M), VillageMD ($100M), and One Drop InforMed Data Systems ($40M).
  • Non-U.S. Top Deals featured Babylon Health ($550M), AllinMD ($100M), Healthy.io ($60M), Intorem S.A. ($43M), AlayaCare ($39M), and Synyi ($36M).

Key Information

• Funding Trends:

  • The U.S. saw a $10.4B total funding for the year, with a $420M investment in patient empowerment this quarter.
  • Population Health was the most funded function in Q3, while Insurance was the highest funded function for the year.

• Investor Diversity:

  • StartUp Health was the most diverse investor, participating in 8 of 11 health moonshots.
  • Corporate VCs like Optum Ventures and Echo Health Ventures made a return, showing continued interest in health innovation.

• Geographic Hubs:

  • In the U.S., San Francisco Bay Area, New York City, and Boston were the top funded regions.
  • In non-U.S. regions, Beijing, Paris, Tel Aviv, and Bangalore were the top funded areas.

• Health Moonshots:

  • Access to Care and Cost to Zero were the most active and funded moonshots.
  • Cure Disease and End Cancer had similar trends but End Cancer showed more early-stage activity.
  • Women's Health and Children's Health had a significant number of early-stage deals, indicating a growing focus on these areas.

Conclusion

The report concludes that 2019 is on track to be the second most-funded year for health innovation, driven by strong quarterly deals and a break in the IPO drought. The continued focus on patient empowerment, population health, and research suggests a maturing market and increasing investment in transformative health solutions.