China-based contract clinical research services provider DMed has received $8m in a series A round that included biopharmaceutical company Zai Laboratory, China Money Network reported today.
The round was led by Qiming Venture Capital, with additional participation by Tairui Investment.
Founded in August 2016, DMed provides clinical research services to clients including Zai Laboratory and drug developer Hua Medicine. The money will support the recruitment of additional assurance and clinical operations staff.
Nisa Leung, managing partner at Qiming, said: “Established by a group of people with profound global R&D experience, this company has the potential to become an international brand for providing drug innovation services and solutions.”
Lingshi Tan, founder of DMed, said: “China biopharmaceutical has entered into a historic turning point. Innovation has become the inevitable trend of this evolving industry.
“Many R&D-based biopharmaceutical companies have advanced their innovative products into the clinical development stage. However, this is the stage at which they may face bottlenecks.”