China Deal Monitor: Delian Capital backs Polaris and more updates

Oncology-focused medical technology company Shanghai Polaris Biology Co., Ltd has garnered 70 million yuan ($9.9 million) in a Series B round of financing led by new backer Delian Capital, per a company announcement. 

State-owned Wuxi Capital and Ascendin Fund joined the round, which saw participation from existing investors Baidu Ventures, Morningside Venture Capital, Volcanics Venture and ETP.

Baidu Ventures had invested ‘millions of US dollars’ in its Series A+ round in September 2019. 

Polaris leverages cell-driven precision diagnostic technologies such as mass cytometry to develop novel diagnosis therapies targeting oncology,  autoimmune and metabolic diseases.

The company will allocate the proceeds to advance its mass cytometry-based diagnosis platform, expedite the candidate products, and build more partnerships.

Previously in January 2019, Polaris had raised $8.25 million from Morningside Venture Capital, Volcanics Venture and ETP. Volcanics Venture along with Puhua Capital and Shulan Health had made an undisclosed investment in Polaris in 2018.

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from June 22-24, 2020. 

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Verticals
CassTimeShenzhen50 millionC2Greater Bay Area Homeland Investments Limited-E-commerce
Lupeng PharmaceuticalGuangzhou24 millionA+Lilly Asia VenturesFung Chuan Capital, TF CapitalHealthTech
Beijing Meilian Tyco BiotechnologyBeijing14 millionBZero2IPO Asset ManagementDelian Capital, Anlong Capital, GoldTech Capital, Mingshi Investment, ETPHealthTech
DPIBeijing11 millionAChina Merchants Venture, Sinovation VenturesYunqi CapitalAI and Machine Learning
JF ChuxingShanghai10 millionPre-AKIPPorsche Venture, NIO CapitalSaas
Polaris BiologyShanghai9.9 millionBDelian CapitalWuxi Capital, Baidu Ventures, ETP, Volcanics Venture, Ascendin Fund, Morningside Venture CapitalHealthTech
MericoBeijing* 1.4 millionPre-AGGV CapitalPolychain Capital, Legend StarBig Data
ZDEERWuhan* 1.4 millionATiantu Capital-Fitness & Wellness
Adaps PhotonicsShenzhen* 1.4 millionA1Lightspeed China PartnersO-filmN/A
SinogeneBeijing* 1.4 millionB1Beijing Shunqi Health Equity Fund ManagementXinuo HengtongHealthTech
Yunjing (Narwal) Intelligence Technology (Dongguan)Dongguan-CSequoia Capital ChinaHillhouse Capital,GGV Capital, ByteDanceRobotics & Drones

∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.