Chinese CRO start-up dMed Biopharmaceutical raises USD 50 mln
Oct 18, 2019 (China Knowledge) - Chinese clinical contract research organization (CRO) start-up dMed Biopharmaceutical Co., Ltd. has successfully raised USD 50 mln (RMB 354 mln) in its Series B financing round.
Founded in 2016, dMed Biopharmaceutical offers many services, including drug safety, clinical sciences and consulting. The company is committed in leveraging the clinical development and regulatory opportunities created by China’s regulatory liberalization, and serves biotech firms from both the West and China. dMed Biopharmaceutical currently has offices in Shanghai, Beijing, Wuhan, New York, Washington D.C., San Francisco and Brussels.
Following the successful financing round, dMed Biopharmaceutical will use the funds to expand its clinical operations and technologies, as well as enhance the research and developments of its clinical products and services. Dr Lingshi Tan, founder and CEO of dMed Biopharmaceutical, said that the company “will be able to serve more Chinese and global innovative pharma companies to help them effectively raise efficiency in clinical R&D, scientifically shorten research cycles, and boost success rates”.
The latest funding round was led by Chinese healthcare investment firm Vivo Capital, as well as VC firms Legend Capital, Qiming Venture Partners and Lilly Asia Ventures.
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