GiantMed Diagnostics Receives ￥20 Million Pre-Series A Investment

(VCBeat) Apr. 08, 2021 -- Beijing-based GiantMed Diagnostics, a professional institution engaged in precision testing in ophthalmology, announced today that it has closed a ￥20 million round of Pre-Series A financing, led by Northern Light Venture Capital, with participation from Marathon Venture Partners and the individual investor Dr. Tan Zhi.

According to the report of the 3rd China Eye Health Conference, the number of people suffering from eye diseases in China has exceeded 150 million, far beyond those in Europe and the United States. The incidence of uveitis, retinal diseases, allergic conjunctivitis and other ophthalmic diseases has been increasing in China.

Ophthalmology has become a huge market in rapid growth, with global market size of about 40 billion dollars and a domestic market size of 3.2 billion dollars. However, there are not many outstanding startups on the track, let alone innovative companies in the field of ophthalmology in China.

GiantMed Diagnostics is a representative enterprise of precision testing in ophthalmology. It has the leading comprehensive third-party testing platform for eye diseases in China, covering LDT and IVD for uveitis, IVD for retina/choroid disorders and other Ocular fundus diseases, POCT for ocular surface diseases including allergic conjunctivitis, dry eye, etc. The company provides one-stop services from etiological detection, medical consultation to scientific research cooperation for clinical physicians and patients.

The core competitiveness of GiantMed Diagnostics comes from its proprietary micro-detection technology of intraocular fluid. At present, its business has covered 22 provinces, with cooperation with more than 300 hospitals in China, and more than 50,000 testing cases of various eye diseases. In China, GiantMed Diagnostics has developed perfect self-built channels and cooperative sales channels.

Founded in 2005, Northern Light is a venture capital firm targeting early-stage opportunities of innovation and disruptive technology. The company manages 5 USD funds and 5 RMB funds with a total amount of US$4.5 billion. Northern Light focuses on 3 main sectors including TMT, advanced technology, and healthcare.

Founded in 2016, MVP is a leading early-stage venture capital firm focused on healthcare with offices in Beijing, Shanghai, Suzhou and Hong Kong. MVP currently manages both US Dollar and RMB funds. MVP backs outstanding entrepreneurs in China's healthcare technology industries at the beginning of their entrepreneurial journey.