Global: Early-stage funding weighted towards Asia

This week has seen no slowdown in the capital that is being raised by early-stage healthcare companies, though Asia has seen the volume.

In Korea, Ilias Biologics, which develops exosome-based therapeutics, has completed US$20.6m Series B financing.

The initial investors from the Series A round, HB Investment, Timefolio Asset Management, and Daedeok Venture Partners joined this round with follow-on investment. The new institutional investors, including Asset One, Devsisters Ventures, Meritz Securities, Kiwoom Securities, Daishin Securities, Hanyang Securities/Yeolim Partners, and Genie Asset Management joined this round along with a small number of private investors. ILIAS has raised a total of $40.2 million of capital since its foundation in November 2015.

This financing will support the continued development of Ilias’ proprietary platform technology and the advancement of exosome-based therapeutics pipeline

“The support from our new and existing investors is a reflection of their confidence in the immense potential of Ilias’ exosome-based platform technology and the expertise of scientists and management teams at Ilias,” said Chulhee Choi, chief executive of Ilias Biologics.

The company said that it was planning to IPO in the first quarter of 2022.

In Malaysia, HealthMetrics, a healthcare and wellness management startup, has raised US$5m in Series A funding led by ACA Investments.

The funds will be used to expand the company’s regional footprint across Southeast Asia, as well as for product development.

“As we look to expand across the region, we aim to provide companies and their employees with more well-rounded digital solutions which meet their current needs that have evolved since we founded our company five years ago,” said chief executive Alvin Yuan.

In Taipei, iWEECARE, the developer of the world’s smallest continuous temperature monitoring product, Temp Pal, has raised US$2.4m in extended pre-series A financing.

TransLink Capital, a Silicon Valley-based venture capital firm with a specific focus on Asia, led the round of fundraising.

The round also saw investment from Taiwan’s National Development Fund, BE Capital, Taiwan Surface Mounting Technology Corp (TSMT), NCTU Angel Club, Might Electronic, and existing investors Verge HealthTech Fund and Darwin Venture.

Temp Pal is a remote wearable thermometer initially developed to assist in pregnancy planning and baby care has received medical certification in Europe, Singapore, Thailand, and Taiwan. In light of the ongoing Covid-19 pandemic and the key role that body temperature plays in early detection and prevention, Temp Pal has been rapidly adopted in hospitals and for home quarantine management.

The funds will be used to accelerate marketing activities to address the demand for remote patient monitoring technologies in the United States and China. i

“The new funding will be used in accelerating our global footprint to satisfy the demands from these markets and ultimately improve patient safety and outcomes,” said co-founder and chief executive Glen Tseng.

In Italy, WISE Srl, a medical device company developing next-generation implantable leads for neuromonitoring, neuromodulation and brain-machine interfacing, has closed €15m Series C funding.

New investors, led by CDP Venture Capital SGR, and including Indaco Ventures I Fund and EUREKA! Venture SGR, joined existing investors – Principia SGR, New Frontier, Atlante Seed and Atlante Ventures (funds managed by Indaco Venture Partners SGR), and High Tech Gründerfondsand F3F.

Proceeds will be partially used to accelerate the development of the company’s second product, SCS EXPERT, a percutaneously implantable multi-column paddlelead for Spinal Cord Stimulation (SCS).

“With this additional funding, we will be able to accelerate our plans to launch SCS EXPERT, as we make progress toward FDA clearance and market launch,” said chief executive Luca Ravagnan.

And HomeDoctor, a Warsaw and Amsterdam-based digital healthcare provider announced a €3.7m Series A funding round led by Cogito Capital Partners with participation from the Company’s founders.

Founded in 2016, HomeDoctor provides online medical consultations and delivery of healthcare services to patients’ homes. It operates as a B2B2C and a B2C medical services platform that enables delivery of both, online and phone consultations (telemedicine channel) and booking a doctor appointment (home visit).

“Home Doctor’s mission is to transform the traditional healthcare model challenged by accessibility issues and deliver healthcare services to consumers in a seamless, patient-centric way. We are delighted to have Cogito on board, to support our plans and strengthen our capacity to execute our ambitious growth and expansion strategy,” said founder and chief executive Szymon Horaczuk.