VC/PE/M&A. Healthcare Weekly (2017.07.24)

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When the world turns its back on you, you turn your back on the world. 

——The Lion King



  • B轮融资3500万美元解决膀胱神经过度活动问题,Amphora Medical立志让膀胱不再整日彷徨!

  • 斥资2亿美元,KKR购买Radiant Life Care的49%股份,布局印度特级专科医院市场。

  • 福兮祸所依?吉列德丙肝病毒新药获批,是否能够帮助其战胜艾伯维?



1. B轮融资3500万解决膀胱神经过度活动问题,Amphora Medical立志让膀胱不再整日彷徨

概要:位于Amphora Medical近日获得了Boston Scientific和Longitude Capital领投的3500万美元B轮投资。此外,HBM Healthcare Investments、F-Prime Capital Partners和Baird Capital也跟投了。这笔B轮投资将主要用于公司针对女性膀胱过动症患者的选择性膀胱去神经系统的研发工作。此微创系统使用定点切除的手段,能够减缓膀胱过动症相关的神经信号,而不干扰其他维持膀胱正常功能的神经的运作。


Amphora Medical这一系统的运作机理


Boston Scientific joins OAB device dev Amphora Medical’s $36m Series B

July 21, 2017

Amphora Medical said today it closed a $35.5 million Series B financing round, led by major medtech player Boston Scientific (NYSE:BSX), with funds slated to support a US pivotal trial of its Selective Bladder Denervation System for treating women with overactive bladder.

Amphora’s Selective Bladder Denervation System is a minimally-invasive, cystopic device which uses targeted ablation to reduce nerve signals responsible for OAB symptoms at their source without harming nerves responsible for normal bladder function, the Minneapolis, Minn.-basedcompany said. “The closing of this round is an important milestone for Amphoraas we work to advance our minimally-invasive Selective Bladder DenervationSystem as a treatment for OAB. Upon the completion of two ongoing feasibility studies, we expect to initiate the pivotal, randomized, sham-controlled,selective bladder denervation clinical trial in women who are refractory tomedical therapy in 2018,” Amphora CEO Tom Ressemann said in a press release. The round was also led by Longitude Capital, and joined by HBM Healthcare Investments and existing venture investors F-Prime Capital Partnersand Baird Capital, Amphora Medical said.

“As an initial investor in Amphora Medical, we are pleased towelcome Longitude Capital, Boston Scientific Corporation, and HBM Healthcare Investments,” F-Prime Capital Partners’ Ketan Patel said in a prepared release. As part of the funding round, Longitude Capital’s Marc Gallettiand HBM Healthcare Investments Thomas Thaler will join the company’s board ofdirectors. The company said it also tapped Gynesonics CEO Chris Owens as anindependent director. “Today, many OAB patients have few options for managing theirsymptoms, which can be debilitating. Amphora’s Selective Bladder Denervation systemhas demonstrated the potential to restore normal bladder function and provide lasting symptom improvement in ongoing feasibility studies, and we believe this proprietary technology has the potential to be a fundamental advancement in the treatment of OAB,” Longitude Capital managing director Galletti said in aprepared statement.

Source: MassDevice



1. 斥资2亿美元,KKR购买Radiant Life Care的49%股份,布局印度特级专科医院市场

概要:KKR亚洲三期基金近日宣布斥资2亿美元购买了印度连锁医院公司RadiantLife Care的49%的股份。这家连锁医院公司收购了位于新德里的BLK特级专科医院、位于孟买的Nanavati特级专科医院。两家医院在被收购后均经过了重建和重新开业。目前,BLK特级专科医院正在建设成一家有着1600张床位的护理医院。KKR的新一轮投资不会对Radiant Life Care和上述两家特级专科医院的合作关系产生影响。截至今年3月末,KKR已通过其私募股权业务向印度的公司投资了32亿美元,通过其企业和不动产版块的非银行金融公司(NBFC)投资了逾35亿美元。


KKR acquires 49% stake in Radiant Life Care for $200 million

July 18, 2017

Global alternative investment management firmKKR & Co. Lp has acquired a 49% stake in hospital chain Radiant Life CarePvt. Ltd for $200 million, KKR said in a statement on Monday. Radiant’s facilities include BLK SuperSpeciality Hospital (BLK) in New Delhi and the Nanavati Super SpecialityHospital in Mumbai, both of which have been rebuilt and re-launched since beingacquired by the company. KKR’s investment in Radiant continues thefirms’ partnership, as KKR has previously extended funding to Radiant tosupport its growth. KKR will make the proposed investment from itsKKR Asian Fund III. Sanjay Nayar and Nikhil Srivastava, directorswith KKR India, will join the board of Radiant Life Care. Last year, KKR had infused debt funding worthRs500 crore in Radiant Life Care.

“This is an exciting time for health care inIndia given the growing demand for superior medical treatment. In this industry, scale and operating leverage are increasingly important, and Radianthas a unique opportunity to acquire assets during a time of industry consolidation. KKR is focused on providing long-term capital solutions toexperienced health care partners like the Radiant team to continue their workto deliver high-quality care and services,” said Nayar, chief executive officerof KKR India. “KKR has more than two decades of experience investing in and working alongside health care companies, and with theirexpertise, we look forward to expanding our business,” said Abhay Soi, chairmanand managing director of Radiant.

BLK is now being expanded into a 1,600-bedquaternary care hospital. Besides BLK, Radiant collaborated with the Nanavati Hospital Trust in 2014 to take over the operations of Nanavati hospital, a 350-bed multi-speciality facility. Over the next four years,Radiant plans to build Nanavati into a 1,000 bed state-of-the-art quaternary care institute, the statement said. KKR has been investing in India since 2006 andopened its Mumbai office in 2009.

The private equity firm has invested about $3.2 billion in Indian firms through its private equity business, and hasprovided more than $3.5 billion of financing to firms through its corporate-and real estate-focused non-banking financial companies (NBFCs) as of 31 March. KKR’s existing private equity investments inIndia include Aricent, Avendus Capital Pvt. Ltd, Bharti Infratel Ltd, Coffee Day Enterprises Ltd, Emerald Media Ltd, Magma Fincorp Ltd, Max FinancialServices Ltd and SBI Life Insurance Co. Ltd.

Over the last 12 months, KKR also announcedexits from portfolio firms including Alliance Tire Group, Dalmia Bharat Group,Gland Pharma Ltd and TVS Logistics Services Ltd.

Last month, KKR raised $9.3 billion for itsinvestments in private equity transactions across the Asia Pacific region underthe KKR Asian Fund III. The fund surpassed KKR’s $6 billion Asian Fund II tobecome one of the largest private equity funds dedicated to investing in theregion, according to financial data research firm Preqin. With the closing of this fund, KKR’s privateequity business has over $68 billion in assets under management worldwide (using valuations for existing funds as of 31 March).

Source: LiveMint



  1. 1.  福兮祸所依?吉列德丙肝病毒新药获批,是否能够帮助其战胜艾伯维?

概要:FDA于本周批准了美国吉列德公司的药物Vosevi 上市,Vosevi因而成为FDA批准的第2个全基因型丙肝新药。它用于治疗伴有轻度肝硬化或无肝硬化的基因1-6型丙肝病毒感染成人患者,其安全性和疗效在2项设计750例丙肝患者的III期研究中得到证实。Leerink Partners的分析师Geoffrey Porges认为,这一药物将被那些已经在使用吉列德的Harvoni或Epclusa或者艾伯维(Abbvie)、默克(Merck)的类似药物的患者群广泛使用。但是,Porges同样指出了两个潜在问题。第一,Vosevi更有可能在现有市场吃香,从而挤占吉列德已有药物Harvoni的份额;更重要的是,FDA并没有一同批准Vosevi的8周疗程,而这一疗程在之前欧洲的批准文件中受到推荐并通过。这一决策可能将吉列德置于竞争中的不利位置,因为如果艾伯维在之后获得了其药物8周疗程的批准,就更有可能对各类型丙肝病毒感染患者进行治疗。

P.S. Vosevi 是由索非布韦+velpatasvir+voxilaprevir(SOF/VEL/VOX,NS5B+NS5A+NS3)组成的固定剂量复方。索非布韦+ velpatasvir是FDA去年6月28日批准的二合一全基因型丙肝新药Epclusa的成分,Epclusa在去年的全球销售额达17.52亿美元。


Gilead gets its go-ahead for blockbusterhopeful Vosevi, but will 12-week dosing give it trouble?

July 19, 2017

Gilead is out with a brand-new second-line hepatitis Ctreatment—but the length of its dosing schedule could set the company back downthe line, one analyst predicts. Tuesday, U.S. regulators green-lighted Vosevi, a three-drugcocktail combining sofosbuvir and velpatasvir—already marketed together aspan-genotype medication Epclusa—with new compound voxilaprevir. As LeerinkPartners analyst Geoffrey Porges figures, the product will largely be usedamong patients who have already been treated with Gilead’s Harvoni or Epclusaor a competing regimen from rivals AbbVie or Merck. Gilead has set Vosevi’s price at $24,920 per bottle, putting it“at parity” with Epclusa at $74,760 for the 12-week course, Porges wrote in anote to clients. “Effectively Gilead is giving the third component of Vosevifree of charge to maintain the price point of their 12-week treatment course,”he said, noting that “given this label and position in the treatment hierarchy,Gilead could have priced Vosevi higher and probably not lost significantshare.”

While Harvoni, for one, boasts a cure rate above 96%—leavingonly a fraction of the population eligible for Vosevi treatment—someindustry-watchers think the Gilead newcomer has potential to rake in blockbuster sales. Evaluate Pharma, in its World Preview 2017, pegged the med’stop-line potential at $1.1 billion by 2022. There’s just one problem, the way Porges sees it. Vosevi’s U.S.approval doesn’t include the 8-week treatment duration previously recommendedfor a green light in Europe. And that omission will put Gilead “at acompetitive disadvantage” to nemesis AbbVie, which is expected to win ago-ahead for an 8-week course to treat all hep C genotypes. A disadvantage is not what Gilead needs, especially with its hepC revenue freefall expected to continue--and worsen. Porges, for one, seessales from the franchise shrinking to just $2.9 billion by 2021 as the newgroup of wonder meds cures more and more patients. Meanwhile, the company has said it’s scouting buys and tappedoncology as a field it would like to enter. So far, though, rumors that it maybe interested in Tesaro seem to have faded away, and the company hasn’t yetpublicly heeded repeated recommendations from Porges to look into nabbingVertex or Incyte.

Source: FierceBiotech