Ally Bridge Group, Cenova Ventures, and NEA also participated in the round.
This is China Broadband Capital’s third investment this year. It previously led a $100 million round in Qiniu, with Harvest Global Investments and Telstra Ventures as co-investors, and $10 million round in Ping++ with Linear Venture, Sequoia Capital China and Shengjing Technology.
Beijing-based LinkDoc works with big data related to oncology, the study and treatment of cancerous tumors. Over the years, cases of cancer in China have exploded. About four million people might be suffering from some form of cancer by 2020, according to estimates by the World Cancer Society.
“Big data-driven personalized medicine has become an irreversible trend in global healthcare,” said Frank Yu, founder of Ally Bridge Group, in a statement.
LinkDoc focusses on certain forms of cancer. It has a presence in more than 200 oncology hospitals in china. It has a built a huge database of patients’ medical records, which are then used for analytics that can help doctors and aid in drug development.
Oncology-related organisations have raised funding in recent times as such cases are projected to grow rapidly. That would mean the need for better drugs and innovations in treatment.
In February, drug development startup Impact Therapeutics raised $10 million from China Summit Capital, Guangzhou Yuexiu Industrial Investment Fund, Sungent Bioventure and Haibang Ventures. Last week, CITIC Private Equity Funds Management made a strategic investment in Beijing New Journey Cancer Hospital.
Founded in 2006, China Broadband Capital has become one of the most influential investors in telecom, Internet, broadband, media and technology sectors in China.