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.