Temasek leads $72m round in Chinese haematology specialist Lu Daopei Medical

Chinese haematology specialist Lu Daopei Medical Group has closed over 500 million yuan ($72 million) in a Series B round of equity financing led by Singaporean state-owned firm Temasek Holdings, with participation from Bahrain-based alternative investment firm Investcorp, according to a statement on Tuesday.

Lu Daopei Medical Group was established in 2001 and named after its founder, Lu Daopei, a Shanghai-born haematologist and expert in bone marrow transplantation (BMT). Lu was the first in Asia to perform BMT to cure severe aplastic anaemia in 1964 successfully.

The privately-run company currently owns four haematology hospitals in Beijing, Shanghai, and northern China’s Hebei Province, providing haematopoietic stem cell transplantation (HSCT) and related clinical treatment services. It carried out clinical studies of CAR-T cell therapies for the treatment of leukaemia in 2015.

In 2019, Lu Daopei Medical Group completed a total of 1081 cases of HSCT in China and treated about 800 patients using CAR-T technology in clinical treatment, shows the company website.

The company plans to use the new proceeds to strengthen its capabilities in the haematology field and to promote brand influence in the international market.

Its earlier investors include CBC Group, a Chinese healthcare investment fund formerly known as C-Bridge Capital.

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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.