GHO to advance healthcare in Europe; Truvian nets USD 27.1 Mn; Lilly plans its diabetes portfolio expansion

Posted on Nov 21, 2019 by Delveinsight

Pharma news

Global Healthcare Opportunities (GHO) Capital, a London-based healthcare investment firm, has recently netted USD 1.1 Billion to advance European healthcare.

The company plans to use the proceeds to invest in healthcare companies. Closure of the second round capped at USD 1.1 Billion (Euro 975 Million) is the largest ever private equity fund to be invested in European Healthcare.

The Fund will help in advancing the untouched healthcare sectors and untapped pharma market opportunities to facilitate valuable healthcare access to people pan-Europe.

The funding round comprised the participation of investors and stakeholders across Europe.

Founded in 2014, GHO has been investing in eight healthcare and pharma companies. However, out of eight, GHO has recently announced disinvestments in two companies namely Caprion Biosciences and Quotient Sciences after successfully delivering growth opportunities.

Using the new fund, the company has already been investing in Pharma companies such as Sterling Pharma Solutions, and BioAgilytix, a bioanalytical player.

Truvian Sciences, a US-based healthcare company, has announced the closure of USD 27.1 Million Series B financing.

The company plans to use the funds to further advance the development of its benchtop blood tester. The funding round was led by GreatPoint Ventures, DNS Capital, Tao Capital Partners along with the existing stakeholder Domain Associates.

The recent funding round brings the total funds to USD 46.3 Million till now.

Benchtop Blood tester is aimed to provide lab accurate results within 20 minutes from a small blood sample. The company is planning to expand its tester’s ability by expanding its abilities to check chemistry tests, immunoassays and haematology assays. So far, no single device exists that can perform all the standard assessment at one place.

Truvian’s blood tester aims to offer convenient and accurate results for around 40 diagnostics tests covering the most common tests such as lipid and metabolic panels and complete blood cell counts as well as tests for thyroid, liver and kidney.

Eli Lilly and Company has announced its proposal to invest USD 400 Million to expand its existing manufacturing unit Lilly Technology Center campus in Indianapolis.

The investment will be used to add further value to its facility by enhancing the diabetes portfolio. Moreover, the expansion will also create approximately 100 new high skilled job opportunities.

Diabetes is rising globally. The Diabetes prevalence is on a steady increase. According to a report by the WHO, the number of people living with diabetes has risen from 108 Million in 1980 to 422 Million in 2014. Higher blood sugar level results in associated comorbidities like CVDs thus increasing the chances of deaths. The number of deaths in the year 2012 due to diabetes were reported to be around 2.2 million.

Early diagnosis of the disease can substantially help in controlling diabetes by incorporating certain lifestyle changes such as exercising and by following a strict diet plan.

Moreover, easy access to Insulin at affordable rates will help in the treatment and prevent pre-mature deaths.

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