Our lawyers Lee Bagshaw and Chris Wilson advised Prenetics (a Hong Kong based startup making DNA testing products) on its USD40million investment round, led by Alibaba and Beyond Ventures amongst others. Prenetics had previously raised money from Ping An, China’s largest insurer.
Prenetics partners with insurance companies to provide DNA testing to policyholders. It currently operates in Hong Kong, Singapore, Malaysia and Thailand, and with this investment, it plans to expand to more countries. To date, Prenetics has processed 200,000 DNA samples.
As ever, we’re delighted to be working on venture capital deals with leading startups in Asia, especially in breakthrough areas like digital health. Danny Yeung (Prenetics’ CEO and founder) continues to be inspirational. With its technology, rapid growth, and new association with Alibaba and Ping An, Prenetics looks set to be a worldwide leader in genetic testing.
by lee bagshaw, 24 October 2017