Featured in this Financial Times column from August 14, 2018. Full story available here.
“Han Yusheng, a Chinese entrepreneur with a background in biology, established Burning Rock to promote the early diagnosis and treatment of cancer, especially lung cancer, using next-generation sequencing-based diagnostics in 2014 with the help of venture capital firms including Sequoia Capital China. Mr Han was an early mover in what has become among the hottest areas in venture capital: biotech. Last year, such start-ups, broadly defined, raised almost $40bn while their financiers invested almost $12bn in the sector, according to data from McKinsey. And while venture inflows into other tech sectors have slowed, $32bn has already been raised and $7.8bn invested in biotech in the first half of the year, suggesting 2018 will break last year’s record, Beijing-based investment bank China Renaissance calculates. International private equity firms such as General Atlantic and Warburg Pincus have also become big investors in the sector.”