On November 10, 2020, New Horizon Health filed to go public on the HKEX, with Goldman Sachs and UBS as joint sponsors. New Horizon Health (the Company) was established in November 2015, focusing on home-based early screening and testing services for high-risk cancers in China. The Company has received D and E rounds of financing this year, from investors including CR-CP Life Science Fund, Rock Spring Capital, OrbiMed, Lilly Asia Ventures (LAV), Cormorant Asset Management, Duke University Asset Management (DUMAC), and the shareholders of the Company like Qiming Venture Partners, SB China Capital (SBCVC), etc.
"ColoClear", the industry leading product of the Company, is the first and only approved product for molecular cancer screening tests in China. ColoClear is a brand-new product, which provides a non-invasive, painless and non-intrusive colorectal cancer screening service that can be operated at home. With its FIT-DNA screening technology, three molecular indicators (including hemoglobin, genetic variation and gene methylation) closely related to the occurrence of colorectal cancer in feces can be analyzed, and advanced adenomas (precancerous lesions) and colorectal cancer nidus with a diameter of more than 1 cm can be detected, so that colorectal cancer can be found and cured in time. ColoClear aims at 120 million people at high risk of colorectal cancer in China. Based on publicly-available data, ColoClear generated the world's best clinical results in the industry, in a registration trial with 5,881 enrolled subjects. In addition, the Company's product line also includes two candidates for late-stage cancer screening of gastric cancer and cervical cancer.
Early screening of cancer can help patients to detect and treat cancers in early stage, therefore increase their survival rate and quality of life, and greatly reduce the medical burden of China. As a result, the market potential in this field is huge and growing rapidly. The latest market value of Exact Science, the global leader in early screening of colorectal cancer and the benchmarking company of New Horizon Health, is about US$ 18 billion, and the annual sales of its Cologuard (early diagnosis of colorectal cancer) is close to US$ 900 million. In the fourth quarter of 2019, Exact Science achieved a revenue of US$ 257 million, with a year-on-year increase of 107%.
CR-CP Life Science Fund managed by CR Capital Management focuses on investing in innovative products, technologies and services in the field of life sciences. The Fund has invested in the fields related to early cancer screening, Car-T, antibodies, respiratory medicine and oncolytic viruses. With the strong support from the industrial platform of its shareholders, CR-CP Life Science Fund is committed to creating value for its investors, so that Chinese people can have faster access to global innovative products and technologies in life science.
