◆ Beijing has become the first choice for China's pharmaceutical capital, and Jiangsu, Zhejiang and Shanghai will cover half of the country's 2021 transaction events
◆ The field of innovative drugs is in full swing, and medical equipment and medical device consumables are constantly rejuvenated
◆ In the field of medical equipment consumables, Hubei has sprung up
2021 is a year of active capital in the pharmaceutical industry. According to the pharmaceutical finance cloud investment and financing database, from January to December, there were 1273 #investment and financing # incidents in the domestic pharmaceutical industry, and the total amount of disclosure exceeded 269.1 billion yuan. In the second half of 2021 alone, the number of domestic pharmaceutical investment and financing events has reached 751, with a total financing scale of more than 175.6 billion yuan. #医药板块 #
Judging from the number and scale of monthly investment and financing transactions, August and December are the "harvest" seasons for pharmaceutical companies. In August, mRNA vaccine innovator Aibo Biotech completed a series of C financing totaling more than 700 million US dollars, refreshing the record of a single financing before the IPO of Chinese pharmaceutical companies; Jintai Technology received a 400 million US dollars D round of financing; Shanghai Magnesium Health completed a series C financing of more than 2 billion yuan... In December, BeiGene (IPO on the Science and Technology Innovation Board, raising more than 20 billion yuan) and Regmed (strategic financing, US$1.5 billion) were at the forefront of financing.
Data source: Yaorong Cloud Investment and Financing Database
From the perspective of regional conditions, the five regions with the most intensive occurrence of pharmaceutical investment and financing events in China in 2021 are Shanghai, Beijing, Guangdong, Jiangsu, and Zhejiang, and the 5th place (Zhejiang) and other provinces have opened a huge gap. Beijing has a total of 241 transactions, less than Shanghai (285), but its transaction amount is higher than Shanghai's, reaching 76.14 billion.
Jiangsu, Zhejiang and Shanghai are the backbone of the pharmaceutical field, and 618 transaction events cover half of the country's pharmaceutical investment and financing in 2021.
In addition, from the perspective of the number of financing rounds, the number of A rounds is the largest, the B series transactions before the IPO are the largest, and the D+ round transaction volume is less than the D round. It is speculated that high-valued projects carry out fewer D+ rounds.
In terms of specific investment areas, #Innovative Drugs#, #Medical Devices# and #Medical Devices # Consumables are the top three areas where capital invested the most in 2021, with 396, 223 and 203 transaction cases respectively, including 22.87%, 6.63% and 4.15% of the transaction amounts respectively. Subsequently, biological drugs, chemical drugs, high-value medical consumables, intelligent medical equipment, big data, etc. are also concepts that capital pays more attention to and invests.
Innovative drug financing is at the top of the list
Among the 396 investment and financing events related to innovative drugs, the number of A and B rounds is significantly more than that of other rounds, and the average transaction amount is not obvious; the average transaction size of A/B/C round events in the concept of innovative drugs is close, and the overall transaction amount of D+ rounds is less than that of D rounds. The average trading volume of innovative drugs is higher than other concepts in the main statistical rounds.
From this, it is speculated that:
- After Series B or during high-risk periods for innovative drugs
- During the statistical period, there were fewer rounds of C rounds and subsequent rounds of highly valued projects
From the perspective of trading regions, Shanghai has the most transaction events, and Beijing has the largest transaction scale and average transaction volume; while in non-TOP5 regions, Hong Kong, Hubei and Liaoning have a larger average transaction volume.
Analyzing the application scenarios of innovative drugs involved in pharmaceutical investment and financing in 2021, it is found that most of the drugs focus on tumors, immune system diseases and disease treatment.
The field of medical equipment is sought after, and Hubei has sprung up
In the transaction events related to medical equipment (including concepts such as household, medical, and intelligent medical devices), the number of A/B rounds is significantly more than that of other rounds; the total size of B round transactions is the largest, 2 times that of Series A; and the average amount of strategic investment transactions is close to that of Round B. The total number of transaction events reached 223, and the transaction amount reached 35 billion yuan.
From the perspective of geographical distribution, the five cities of Guangdong, Beijing and Jiangsu, Zhejiang and Shanghai are still the top five in terms of the number and amount of transactions.
It is worth noting that the average transaction value of Hubei Province reached 190 million, ranking 4th, and Hubei also performed well in the field of medical device consumables, with an average transaction value of 180 million, ranking 3rd. According to the Hubei Provincial Food and Drug Administration, there will be 1,071 medical device manufacturers in Hubei Province at the end of 2021, ranking seventh in the country; the number of production enterprises will increase by 33.9%, and the growth rate will be the first in the country. Hubei may continue to attract more financial attention.
Analyzing the application scenarios of medical equipment involved in pharmaceutical investment and financing in 2021, it is found that most of the drugs are concentrated in laboratory departments, disease diagnosis and tumors.
Medical device consumables
Due to the sharp rise in the performance of epidemic-related sectors such as in vitro diagnosis, and the landing of equipment procurement, the lowering of the listing threshold, the relatively small risk and high certainty of devices compared with innovative drugs, and the large domestic replacement space, domestic instruments and consumables continue to heat up, and in 2021, a total of more than 200 financings have been obtained, and the transaction amount is nearly 22 billion yuan. Among them, the average amount of strategic investment transactions is close to that of series A.
From the perspective of the number of financing, Jiangsu, a strong manufacturing province, ranked first among cities in the country with 43 financing, and its transaction scale was also the largest. Shanghai, Guangdong, Beijing and Zhejiang also ranked among the top five, jointly with Jiangsu to capture 89% of the transaction amount, and the total number of financings in the five cities was 166. In addition, the regions with higher average transaction value are Fujian, Shanghai and Hubei.
Analyzing the application scenarios of medical device consumables involved in pharmaceutical investment and financing in 2021, it is found that most of the drugs are concentrated in disease diagnosis, laboratory department, inspection and diagnosis.
Note: The rotation of statistical time has been simplified, for example, Pre-A, A+ meter A and so on; during the D round to the IPO, the rounds are merged into D+ rounds;
Non-RMB transactions use conversion factors:
USD: 6.4 RMB/USD
EUR: 1.99 USD/EUR
HKD: 0.83 RMB/HKD
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