PharmaLegacy, a China-based clinical research provider backed by clinical research services provider Tigermed, has raised almost $100m in new funding, DealStreetAsia has reported.
Venture capital firm Sequoia Capital China co-led the round with hedge fund manager Hillhouse Capital’s GL Ventures unit.
The round also featured Prosperico Ventures, Med-Fine Capital, GT Capital, Development Venture Capital Holding, Elikon Venture and Yinglian Healthcare Fund.
Founded in 2008, PharmaLegacy carries out clinical research for pharmaceutical companies in areas such as oncology, respiratory and autoimmune diseases. It will use the cash to develop a pharmacology platform and laboratory, fund global expansion and improve its service.
The company had closed an undisclosed amount of funding from TF Capital, Med-Fine Capital, Guokai Investment and Orient Security prior to its latest round, according to DealStreetAsia, which named Tigermed, GSV Capital and Shanghai Hongjing Asset Management as earlier backers.
