Qiming Venture Partners' portfolio company MedSci successfully listed on HKEX main board

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Apr 27, 2023, 03:36 ET

SHANGHAI, April 27, 2023 /PRNewswire/ -- On April 27th Beijing time, Qiming Venture Partners' portfolio company MedSci Healthcare Holdings Limited("MedSci"), a leading physician digital platform in China, successfully listed on the main board of Hong Kong Stock Exchange. MedSci (02415.HK)'s issue price was HK $9.10/share, with a market value of HK $5.53 billion.

As the earliest investor, Qiming Venture Partners exclusively invested in MedSci's Series A financing in 2015 and continued to lead the company's Series B round in 2020, being a crucial partner in the company's growth journey. As of the IPO, Qiming was one of the major investors of MedSci. MedSci's successful listing is also the sixth IPO that Qiming has welcomed since 2023.

Founded in 2012, MedSci is one of the largest and most active professional physician platforms in China. It connects doctors, patients, pharmaceutical and medical device companies through big data and AI technology, providing precise digital marketing communication solutions to empower the healthcare ecosystem and improve healthcare quality.

MedSci's product offerings include physician platform solutions, precision omni-channel marketing solutions, and RWS solutions, covering categories such as clinical research, physician career development, academic communications, and others.

Through years of market experience, MedSci has accumulated many high-value physician users and has been widely recognized by the industry for its leading knowledge base and research support capabilities. As of 2022, MedSci platform had approximately 2.9 million registered physician users and the average MAU reached approximately 2.7 million. Among them, the number of users with the title of associate-chief physician and above was around 530,000, representing 67.1% of the total number of physicians in China who had obtained the title of associate-chief physician and above. MedSci's registered user and active user number rank top in the industry.

China's pharmaceutical and medical device markets have vast potential, which are undergoing a new stage of digital transformation. In this context, Chinese physician platform service market is rapidly developing, giving rise to more new opportunities. This provides a fertile ground for MedSci's long-term, fast, and sustainable growth. With its strong doctor resources and platform advantages, academic capabilities, as well as leading digitalization technologies, MedSci's omni-channel marketing business has formed a strong core competitiveness, making it the preferred digital marketing platform for innovative drugs and medical devices.

Fabao Zhang, Founder and Chairman of MedSci, said, "MedSci plays a key role in the medical value chain, and going public is a milestone to better empower the development of the healthcare industry. MedSci will always be committed to improving healthcare quality and creating a better life through specialized academic content, data-driven evidence, and platform technology."

William Hu, Managing Partner of Qiming Venture Partners, said: "The digitization of medical research content and knowledge is a major trend that will effectively improve the communication efficiency of doctor research and content by pharmaceutical companies. The breakthroughs in major technologies such as AI may further promote the development of digital medical research. MedSci has always been focused on this area and played an important role in the industry's development. We are pleased to witness MedSci's IPO and look forward to the company continuing to lead the industry's development and create a future for digital healthcare."

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

SOURCE Qiming Venture Partners