大健康&CB insights：2019年第二季度健康產業報告（英文版）(70頁).pdf

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1、1 Global Healthcare Report Q2 2019 W HAT IS CB INSIGHTS? CB Insights is a tech market intelligence platform that analyzes millions of data points on venture capital, startups,patents, partnerships, and news mentions to help you see tomorrows opportunities, today. CLICK HERE TO LEARNMORE 3 T R US TED

2、 B Y T H E W O R L DS L EAD ING C O M P ANIES “We use CB Insights to find emerging trends and interesting companies that might signal a shift in technology or require us to reallocate resources.” Beti Cung, Corporate Strategy, Microsoft October 2-3, 2019 New York, NY 5 Contents 8Q219 Investment Tren

3、ds Quarterly Deals & Dollars Regional Trends Q219 Top VC-Backed Digital Health Deals Digital Health Unicorns 66 28Q219 Healthcare Industry Highlights Clinical Trials Womens Health Cannabis AI Mental Health & Wellness Genomics Digital Therapeutics Appendix: Most Active Digital Health Investors Q219 M

4、ethodology 6 Hemp/CBD startups take a record 25% of cannabis funding: In Q219, 27 (25%) of the 107 cannabis deals were for startups with a hemp and/or CBD business component. That compares to only 11 (15%) of the 73 deals in Q218. AI in healthcare startups and mental health & wellness startups reach

5、 funding highs in Q219: Healthcare AI companies raised $864M in the second quarter, led by a $200M round to Tempus in May. Mental health & wellness companies raised $321M across 26 deals, with large rounds going to Quartet and Talkspace. The application of emerging technologies in genomics is pickin

6、g up: New platforms such as telegenomics and blockchain-enabled networks are becoming more prevalent. Digital therapeutics continue to provide new avenues of treatment for chronic disease management: This quarter has seen deals going to startups pursuing more specific health issues such as joint pai

7、n and respiratory disorders. First Round Capital and Jumpstart Foundry participated in the most digital health rounds in Q219: Overlapping targets for the top investors included CureFit and SigTuple. Other leading digital health investors included Chiratae Ventures, Civilization Ventures, and Percep

8、tive Advisers. Note: This report focuses on equity rounds to VC-backed healthcare companies. This report does not cover companies funded solely by angels, private equity firms, or any debt, secondary, or line of credit transactions. All data is sourced from CB Insights. Summary of findings H119 saw

9、a first half record in both deals and dollars: The amount invested in healthcare companies globally rose to $26.9B in H119 compared to $26.5B in H118. Over the same period, deals increased from 2,223 to 2,258. The second quarter saw funding decline in Asia, North America, and Europe: Healthcare fund

10、ing to Asia-based companies dropped 39% in Q219, while North America and Europe funding levels were also down. Digital health funding is on the rise for the second straight quarter: Total digital health funding was $3.5B, up 23% versus Q119. There were 371 digital health deals compared to 354 in the

11、 first quarter. Massachusetts takes over as the #2 US state for digital health deals: Massachusetts- based companies raised 29 rounds in Q219, taking over the number 2 spot from New York (24) but still far behind California (85 deals). There are 38 VC-backed digital health unicorns worth a combined

12、$90.7B: The cohorts total valuation in 2019 continues to grow as a result of continued mega- rounds to existing unicorns, such as Tempus and Doctolib, among others. Q219 clinical trial deals went to startups expediting patient recruitment and enrollment: From recruitment marketplaces to provider too

13、ls, we continue to see increased offerings for the healthcare industry to revamp this area. GET ALL THE DATA USED IN THIS REPORT Clinical Trials CollectionWomens Health Collection Cannabis Collection Artificial Intelligence in Healthcare Collection Mental Health and Wellness Collection Genomics Coll

14、ection Digital Therapeutics Collection #AhaCBI Global Healthcare Investment Trends 9 $31,070$39,667$59,538$26,914 3,322 3,810 4,395 2,258 2016201720182019 Amount ($M)Deals Deal count projected to reach all-time high in 2019 Annual global VC-backed healthcare deals and financing, 2016 Q219 ($M) G L O

15、 B AL H EAL T HCAR E O N T H E R IS E IN 2 0 1 9 Deal count and funding projections are based on run rate for H219. 2019 run rate 4,516 $53,829 10 2019 is off to a record start in deals and dollars First half global VC-backed healthcare deals and financing, 2016 2019 ($M) T H E F IR S T H AL F O F 2

16、 0 1 9 S AW R EC O R D H IG H S $15,342$19,111$26,499$26,914 1,690 1,846 2,223 2,258 H116H117H118H119 Amount ($M)Deals 11 Global healthcare activity near record highs Quarterly global VC-backed healthcare deals and financing, Q116 Q219 ($M) H EAL T HCARE D EAL S R IS ING IN 2 0 1 9 $8,442 $6,900 $8,

17、074 $7,655 $9,252 $9,858 $10,532 $10,025 $12,262 $14,237 $15,983 $17,056 $14,719 $12,196 893 797 824 808 942 904 991 973 1,016 1,207 1,153 1,019 1,111 1,147 Q116Q216Q316Q416Q117Q217Q317Q417Q118Q218Q318Q418Q119Q219 Amount ($M)Deals 12 Asian funding fell 39% quarter-over-quarter Global VC-backed healt

18、hcare funding by continent, Q118 Q219, ($M) Other Europe North America Asia $8,244$8,736$9,805$14,120$8,743$8,280 $2,648 $3,625 $4,652 $1,606 $4,218 $2,570 $1,348 $1,810 $1,483 $1,280 $1,708 $1,198 $23 $65 $39 $49 $49 $148 Q118Q218Q318Q418Q119Q219 Other category includes Africa, South America, and A

19、ustralia. 13 Mixed results for activity across continents Global VC-backed healthcare deals by continent, Q118 Q219 Note: Charts not to scale 0 100 200 300 400 500 600 700 800 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 Q219 North AmericaAsiaEurope 0 5 10 15 20 25 Q116 Q216 Q316

20、 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 Q119 Q219 AfricaAustraliaSouth America Deals #AhaCBI Global Digital Health Investment Highlights 15 Digital health represents 32% of healthcare deals as pharma accounts for growing proportion of deal share * Digital health accounted for 32% of deals in b

21、oth Q1 and Q2 D IG IT AL H EAL T H T AK ING A S M AL L ER P IEC E O F T H E P IE 63% 37% 2016 64% 36% 2017 67% 33% 2018 68% 32% 2019 YTD* Digital health All other healthcare Annual global healthcare deals, 2016 Q219 16 Digital health activity up for consecutive quarters Quarterly global VC-backed di

22、gital health deals and financing, 2016 Q219 ($M) D IG IT AL H EAL T H D EAL S P IC K ING UP $2,685$2,770$1,652$1,983$2,751$3,307$2,102$2,393$3,503$3,629$4,858$2,787$2,843$3,509 356 288 278 336 342 352 371 321 350 445 391 305 354 371 Q116Q216Q316Q416Q117Q217Q317Q417Q118Q218Q318Q418Q119Q219 17 Later-s

23、tage deal share increasing as space matures Quarterly global VC-backed digital health deals and financing, 2016 Q219 L AT ER - S TAG E D EAL S AR E H EAT ING UP Later-stage deals defined as Series C or later. 18 North America furthers digital health dominance Global VC-backed digital health deals by

24、 continent, Q118 Q219 Note: Charts not to scale 185 218 199 144 181 195 74 120 99 80 70 74 69 73 76 59 77 78 Q118Q218Q318Q418Q119Q219 North AmericaAsiaEurope 2 5 2 5 22 4 7 00 8 5 0 22 5 3 2 Q118Q218Q318Q418Q119Q219 AfricaAustraliaSouth America 19 Japan, South Korea, and Sweden are among emerging co

25、untries in digital health Includes countries with 20+ digital health deals since 2016. D I GITAL HEALTH D EAL COUNT BY COUNTRY 3 Deals 50+ Deals Q116Q116Q216Q216Q316Q316Q416Q416Q117Q117Q217Q217Q317Q317Q417Q417Q118Q118Q218Q218Q318Q318Q418Q418Q119Q119Q219Q219 AustraliaAustralia5 5 5 7 4 5 4 7 8 4 Belg

26、iumBelgium3 3 4 3 4 BrazilBrazil7 3 4 3 CanadaCanada4 9 7 8 5 11 12 5 16 12 12 6 13 9 ChinaChina27 16 17 18 16 16 28 44 29 55 43 42 24 26 FinlandFinland4 5 3 FranceFrance4 3 6 9 6 7 12 9 9 9 8 14 13 GermanyGermany7 4 8 8 7 16 11 7 5 15 9 4 6 IndiaIndia24 14 11 16 14 18 16 11 17 21 18 5 8 18 IrelandI

27、reland4 3 5 4 3 4 IsraelIsrael5 5 3 4 3 4 3 4 8 7 3 4 JapanJapan4 4 3 5 8 15 13 11 8 9 NetherlandsNetherlands3 3 3 3 5 6 4 3 RussiaRussia4 3 3 3 3 5 3 SingaporeSingapore3 5 5 6 5 4 South KoreaSouth Korea5 4 5 4 4 8 5 11 9 10 12 14 10 SpainSpain5 6 5 4 6 3 3 SwedenSweden5 6 4 10 9 12 6 5 13 9 3 9 13

28、SwitzerlandSwitzerland3 3 United KingdomUnited Kingdom13 7 13 19 20 16 22 19 24 16 20 15 25 17 United StatesUnited States207 183 177 181 189 196 202 149 169 205 185 136 168 186 20 California deals bounce back after two down quarters M AS S ACHUSETTS O V ER TAKES NEW Y O R K F O R T H E # 2 S P OT To

29、tal Deal Count 78 81 63 65 90 78 69 77 71 8787 47 52 85 19 18 17 38 25 21 34 30 27 31 1419 18 29 40 22 27 22 24 27 22 25 33 40 2021 28 24 0 10 20 30 40 50 60 70 80 90 100 Q116Q216Q316Q416Q117Q217Q317Q417Q118Q218Q318Q418Q119Q219 CaliforniaMassachusettsNew York VC-backed digital health deals by state,

30、 Q116 Q219 21 Illinois, Pennsylvania, North Carolina among under- appreciated digital health hubs UNI TED STATES OF D I GITAL HEALTH Includes unique companies that have raised funding since 2016. Grey indicates states with fewer than 10 startups. 22 UNI TED STATES OF D I GITAL HEALTH Includes unique

31、 financing rounds completed since 2016. New York remains hottest metro area for digital health 0 5 10 15 20 25 30 35 40 Q116Q216Q316Q416Q117Q217Q317Q417Q118Q218Q318Q418Q119Q219 New York MetroSilicon ValleyBoston MetroLos Angeles Metro Top 4 metro areas for digital health deals, Q116 Q219 23 Q219: 4

32、digital health mega-rounds total $609M Global number of digital health mega-rounds ($100M+), Q118 Q219 D IG IT AL H EAL T H M EG A -R OUND S M AT C H Q 1 1 9 3333 1 3 2 3 2 11 1 Q118Q218Q318Q418Q119Q219 United StatesChinaFranceIndia 24 Company Deal Date / Amount Raised Total Disclosed FundingSelect

33、InvestorsDescription Jun19 / $205M$434MDFJ Growth Fund, Founders Fund, G Squared, Google Ventures, Maverick Ventures, New Enterprise Associates, SoftBank Group, Sun Life Financial Provides employers with an integrated software platform that allows them to administer their benefits plans, take better

34、 care of their people, and optimize their investments all in one place May19 / $200M$520M ($3.1B Valuation) Baillie Gifford, Franklin Templeton, New Enterprise Associates, Novo Holdings, Revolution, T. Rowe Price Gathers and analyzes clinical and molecular data at scale for precision medicine Jun19

35、/ $104M$104MAlexandria Venture Investments, ARCH Venture Partners, Boxer Capital, Illumina Ventures, Jlabs, Menlo Ventures, Venrock Gene therapy company utilizing genomic sequencing for drug discovery Jun19 / $100M$155MCenova Ventures, IDG Capital, Matrix Partners China, Source Code Capital, Vision

36、Plus Capital, Welight Capital Weimai is a platform that provides medical services, including online consulting, payment, and appointment scheduling May19 / $90M$137MEnern, Goldman Sachs, One Peak Partners, Piton Capital, Point Nine Capital, RTAventures, Target Global Platform connecting patients wit

37、h healthcare professionals Top 10 global digital health deals in Q219 4 of the top deals to VC-backed digital health companies were mega-rounds ($100M+) 25 Company Deal Date / Amount Raised Total Disclosed FundingSelect InvestorsDescription May19 / $78M$78MLeerink Transformation Partners, Silversmit

38、h Capital Partners Health analytics company that assesses the value of medical technologies May19 / $75M$299M ($520M Valuation) Accel, Axis Bank, Castle Investments, Epiq Capital, HDFC Bank, InnoVen Capital, Oaktree Capital, Unilever Ventures Healthcare and fitness start-up that offers products and

39、solutions for preventive and curative healthcare, combining engagement, coaching, and delivery through online and offline channels Apr19 / $74M$141MAgricultural Bank of China, China Pacific Insurance, CITIC Capital, Xiran Capital Mobile healthcare platform that integrates data collection, data analy

40、sis, health management solutions, health behavioral intervention, and value-added services Jun19 / $73M$201MAndreessen Horowitz, Cigna Ventures, Kaiser Permanente Ventures, Norwest Venture Partners, Sanofi Ventures, Wellington Management Digital behavioral medicine company that helps people manage c

41、hronic disease May19 / $65M$65MMeraas, Mindset Ventures, Polymath Ventures, Refactor Capital, SignalFire Utilizes wearable technology to monitor, manage, and diagnose lifestyle diseases Top 10 global digital health deals in Q219 (cont.) 2626 38 HEALTHCARE UNICORNS $90.7 BILLION G L O B ALLY T H ER E

42、 AR E V AL UED , IN AG G R EG ATE, AT 27 Switzerland EUROPE $3.2B $1.96B$1B $3.5B NORTH AMERICA $12B Valuation $1.8B $3.1B$3.2B $1B $1B 38 healthcare unicorns valued at $90.7B Global VC-backed health companies with a private market valuation of $1B+ (7/26/19) UNITED KINGDOM $1.5B MIDDLE EAST $1B Val

43、uation ISRAEL $7B $1B$1.2B $1B $1.65B $1.8B $1.25B $2.8B $1B$1B $2B Valuation $1.5B UNITED STATES GERMANY $1.7B $2.5B CHINA ASIA $3B $5.5B Valuation $5B $2.4B $2.4B France $1.1B$3.5B $1.6B $1B $1B $1B $1B #AhaCBI Q219 Healthcare Industry Highlights 29 DIGITAL THERAPEUTICS WOMENS HEALTH AI CANNABIS G

44、ENOMICS Companies selling AI SaaS to healthcare clients or using AI to develop products for the healthcare market Companies that participate in or service businesses within the growing legal cannabis industry Startups focused specifically on providing healthcare products and services to women Compan

45、ies working to improve clinical trial operations from drug R&D, study design, patient recruitment, and adherence & compliance Companies applying technology to problems of emotional, psychological, and social well-being Companies involved in the capture, sequencing, and/or analysis of genetic data Te

46、ch-enabled out-of-hospital solutions that either complement or replace standard medical treatment for a condition GLOBAL HEALTHCARE REPORT Q219 CLINICAL TRIALS MENTAL HEALTH AND WELLNESS 30 DIGITAL THERAPEUTICS WOMENS HEALTH AI CANNABIS GENOMICS HEALTHCARE Q2 2019 CLINICAL TRIALS MENTAL HEALTH AND WELLNESS GLOBAL HEALTHCARE REPORT Q219 Clinical Trials Collection 31 Clinical trials tech funding dips below highs VC-backed deals and financing to clinical trials