Ping An Ventures leads $10 mln Series A for Prenetics

Ping An Ventures, the venture capital arm of Ping An Insurance Group, led a $10 million Series A investment round in Prenetics. Based in Hong Kong, Prenetics offers a test to help physicians prescribe medications and dosages based on a patient’s unique genetic profile. Other investors in the round include Venturra Capital, a fund backed by Indonesia’s Lippo Group, Capital Union Investments and existing investors 500 Startups and COENT Venture Partners.

PRESS RELEASE

HONG KONG, March 16, 2016 /PRNewswire/ — Prenetics, a precision medicine life sciences company focused on personalized, predictive and preventive treatments announced a US$10 Million Series A strategic investment led by Ping An Ventures, the venture capital arm of Ping An Insurance Group, one of the largest insurance companies in China and in the World. Other investors include Indonesia’s Lippo Group backed Venturra Capital, Capital Union Investments and existing investors 500 Startups, COENT Venture Partners.

Prenetics’ proprietary iGenes test helps physicians prescribe medications and dosages to achieve the most effective results with the least side effects, based on a patient’s unique genetic profile.

Ping An Ventures Managing Director Jiang Zhang stated, “We believe precision medicine is the future of healthcare, primed to happen now. Prenetics has built an amazing team with a world-class scientific, medical and commercial team. We are excited to integrate Prenetics innovative DNA tests to help our 200 million customers live longer, healthier lives while saving substantial healthcare costs.”

“The strategic investment by Ping An and Venturra is a huge win for us.” said Danny Yeung, CEO of Prenetics. “Our goal is simple: reduce adverse drug reactions, saving lives and reducing the cost of healthcare. Over the coming months, we’ll be bringing new products and services out that will continue to shape the future of healthcare and the US$213 Billion market.”

Managing Partner of Venturra Capital, Rudy Ramway stated, “Prenetics is a game-changer and we are working closely to bring precision medicine to Indonesia and across Southeast Asia.”

About Ping An Ventures

Ping An Ventures is a professional VC firm under Ping An Insurance (Group) Company of China, with focused interest in startups of emerging innovation. It is committed to helping its portfolio companies grow and succeed in the China market by providing not only funding but also managerial advice, introductions to Chinese key opinion leaders and partners, and other needed resources.

About Venturra Capital

Venturra Capital is a Southeast Asia focused venture capital firm investing in early and growth stage consumer technology-enabled companies. Venturra’s mission is to provide capital, operational empowerment, and market access to founders of innovative, industry-transforming, technology-enabled businesses.

About PreneticsTM

For more information, visit http://prenetics.com