News & Events
dMed Completed a US$100 Million Series C Financing |
2020-12-17Return>> |
Shanghai, China, Dec. 17th , 2020-- dMed, the clinical CRO with strong
presence in China and the US, the world’s two largest pharmaceutical markets
and drug development sites, announced today its successful completion of a
US$100 million Series C financing. Led by Fidelity Management &
Research Company, LLC, new investors in dMed include Sequoia Capital China, Kaiser
Foundation Hospitals and E Fund. They now join the
leaders in dMed’s angel, A and B rounds, Qiming Venture Partners, Lilly Asia
Ventures, and Vivo Capital, which have taken most of
the opportunities to increase their contributions to dMed’s capital since the company’s inception in 2016.
dMed
Founder, Chairman and CEO, Dr. Lingshi Tan, said “We are extremely gratified by
continued strong support from an impressive group of international
institutions”. He added: “A key goal in
the current round is to expand our investor base to include long-term public
market-focused institutions and strategic partners in order to prepare for a
future IPO. Fidelity, which led the
Series C, is an excellent example of the expansion to the strong foundation we
are building to continue the company’s rapid organic growth and support our
acquisition strategy.”
dMed’s investors have been strongly attracted to dMed’s pre-eminent position in serving innovative Chinese biotechs at home as well as bringing those firms to the US market. Western firms also need a partner like dMed to help them navigate an unfamiliar clinical and regulatory environment in China. In addition to international institutions, investors in China’s public equity markets have been excited by the unique opportunities to participate in dMed’s growth.
Dr. Tan concludes, “dMed is perfectly
positioned to work with biopharma clients in accelerating clinical timelines
while reducing development costs, helping them to gain entry to the world’s
fastest growing market for innovative drugs. Our ability to work in true
partnership with Western and Chinese innovators globally, using a holistic and
collaborative model, has been widely endorsed as the right formula for future
success.” About dMed
dMed is a full-service Clinical
Contract Research Organization (CRO), which provides industry solutions to
pharmaceutical and medical device companies in China and across the globe. dMed
is led by experts in China and the US who originated from leading multinational
pharma companies and regulatory agencies. We are uniquely positioned to
leverage and integrate China’s new regulatory framework, offer innovative drug
development strategies, and help our clients expand globally by tapping into
the world’s second largest pharmaceutical market. Our creative and flexible
collaboration models will help Chinese and global innovative pharma companies
effectively raise efficiency in clinical R&D, scientifically shorten
research cycle, and boost success rate.
Our business covers consulting,
regulatory affairs & strategy, early clinical development, clinical science
& medical affairs, clinical operations, biostatistics & programming,
data management, drug safety & pharmacovigilance, quality assurance and
information solutions.
dMed has set up offices in major cities, including Shanghai, Beijing, Wuhan, New York, Washington, San Francisco, and Brussels, and it employs around 600 professionals globally, among them 60% holds master above degree and 25% with more than 10 years working experiences.
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China:
298 Xiangke Road, 3/F, 301-305, Zhangjiang Hi-Tech Park, Pudong, Shanghai 201210, China
Tel: +86 21 5090 0085 Fax: +86 21 6875 5515
US:
261 Madison Avenue, 24th fl. New York, NY 10016 US
Phone: +1-212-681-2100
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