HISTO Announces Closing of ￥100M Series B Financing

(VCBeat) Mar. 29, 2021 -- The first third-party independent pathology diagnosis institution in China -- Histo Pathology Diagnostic Center ("HISTO") has completed the Series B financing of 100 million yuan in the Q1 2021, led by Haier Medical Fund, with participation from Flyfot Ventures and other well-known life science funds. CEC Capital acted as the exclusive financial consultant for this round.

The financing is the largest to date for a company holding a third-party pathology diagnosis license. Since its inception, HISTO has always taken pathology as the core and has developed into the only professional institution providing comprehensive pathology service.

The fresh round of funding will be used to improve the R&D capability, recruit more technical personnel all over the world, at the same time develop technologies to meet the demand in pathological digitalization with AI and immunoassay for detection of tumor, and expand the service network coverage.

HISTO was put into operation in 2018 and completed the extensive Series A round at the end of 2018. The company takes pathological diagnosis as the basis and starting point. It centers on the output of high-quality pathological diagnosis technology and service, and expand its business along two main lines -- the digitization of the pathological industry and the construction of AI-powered infrastructure. HISTO has become the only institution in China that has a full coverage of pathology services and supporting capabilities.

The joint laboratory for intelligent pathology established by Personalized Medical School of Shanghai Jiaotong University and HISTO, has conducted various standardized and customized immune microenvironment tests based on mass cytometry (CyTOF) and imaging mass cytometry (IMC) to help researchers do research in a different dimension and improve the precision through richer cell subtypes and topological information, so as to better understand the disease.

Flyfot Ventures, founded in 2015, is an early-stage investment fund focusing on the field of TMT. It mainly invests in O2O, B2B, Internet finance, online education, mobile health, big data and artificial intelligence, virtual reality, augmented reality, games, APP, etc. Flyfot Ventures has an AUM of 150 million yuan.