The firm, launched in May by WuXi Healthcare Ventures and Frontline BioVentures, is looking to raise $450m for its first US fund, according to a regulatory filing.

Palleon Pharmaceuticals has launched with $47.6m in series A funding to commercialise cancer therapies based on technology developed at Stanford and Dundee universities.

GE Healthcare has agreed to be the anchor investor in the $200m Rx Healthcare Fund, which will back companies that can help improve healthcare in Africa.

Ascension Health is set to exit medical device maker Apama Medical, which has agreed to an acquisition by Boston Scientific for up to $300m.

Mark Barrett, who has held business development roles at Johnson & Johnson and Sanofi Genzyme, has taken an entrepreneur-in-residence position at Frazier Healthcare Partners.

Tencent led the medical imaging startup's series A+ round, which increased its overall funding to almost $29m.

The biotech spinout will use the cash to fund clinical development and proof-of-concept for its lead candidate targeting influenza by 2018 and 2019.

Insulin developer Thermalin has raised an undisclosed sum from investors including Sanofi and JSR, and plans to close the round at $17.5m.

Magenta, the developer of a heart failure treatment device, has added an Abiomed-backed series B round to the $4m series A it raised five years ago.