JunHe has advised Apis Partners LLP in connection with an investment in leading global genetics and diagnostic health testing company Prenetics as part of a US$15 million financing round. The financing round was led by Apis Insurtech Fund I, a venture fund managed by Apis Partners LLP, a London headquartered global investment firm specializing in investments democraticising access to financial services and related industries. Existing investor Alibaba Hong Kong Entrepreneurs Fund also participated in the round.
In Q4 of 2020, Prenetics plans to launch a low-cost rapid COVID-19 nucleic acid test that is expected to be highly scalable to enable frequent testing and provide results within 30 minutes with no laboratory required. Prenetics is in talks with multiple governments globally about making the test widely available.
Prenetics is operational in 10 countries and has a team of more than 200 employees. It was the only Hong Kong laboratory appointed by the Hong Kong government in the first phase of community COVID-19 testing across high-risk clusters, and the only provider selected by the English Premier League to help re-start the football season by providing 40,000 COVID-19 tests for all 20 teams.