Chinese CRO dMed’s $100m Investor Round bets on All Roads to China?

Chinese CRO dMed’s $100m Investor Round bets on All Roads to China

The Chinese life sciences market is on the move, and that means growth opportunities for contract research organizations (CROS), the organizations that handle much of the nuts and bolts of running studies. Founded just in 2016 in Shanghai, dMed is rapidly transforming into a global CRO player to compete with the tier-1 players in China such as WuXi or even the U.S. players such as IQVIA, Parexel or LabCorp. With 600 employees and growing, dMed just in Dec. raised $100 million Series C financing led by Fidelity Management & Research Company LLC, and with a syndicate of new investors, including Sequoia Capital China, Kaiser Foundation Hospitals and E Fund. The new investors join existing investors leading the angel—A and B rounds including Qiming Venture Partners, Lilly Asia Ventures, and Vivo Capital. Their founder is a heavy hitter out of the pharma world having spent nearly two decades at Pfizer. Dr. Lingshi Tan, who also serves as Chairman and CEO, and was drawn to entrepreneurialism by a vision to build the next generation global clinical development partner—one that helps the biopharma company accelerate delivery of innovative solutions to patients worldwide...

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