IPO candidate

Singapore health group moves to US & targets IPO by 2023

Biofourmis, which uses bio-sensor technology and personalised predictive analytics, is moving to Boston after raising another $35 million. Next stop IPO.

Having completed a $35 million Series-B round of fundraising, Singapore's Biofourmis is moving Stateside, the digital therapeutics startup said on Tuesday.

Sequoia Capital’s India branch co-led the funding with MassMutual Venture. Chinese online health platform Jianke and Singapore government-linked EDBI also participated in the round with existing investors Openspace Venture, Aviva Ventures and SGInnovate.

Biofourmis is moving to the US because it sells 90% of its products in the world's biggest healthcare market. It is also easier to build a research team in the US given the deeper pool of talent in the more mature biotech ecosystem, chief executive Kuldeep Singh Rajput replied to Finance...

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