Precision Scientific, a China-based medical research software provider that counts internet group Baidu as an investor, has raised RMB150m ($23.2m) in series B financing, DealStreetAsia reported yesterday, citing a WeChat post.
Suzhou Kington Capital and GTJA Investment Group co-led the round, which included Polaris Capital, Grand Mount Capital, Sinovation Ventures and Maison Capital.
Precision Scientific is the creator of a software platform which applies artificial intelligence to drug research practices such as biomarker development and differentiation as well as the management of clinical trial statistics.
Baidu subsidiary Baidu Ventures is among the company’s earlier investors according to DealStreetAsia, as are Sinovation Ventures and Maison Capital. It will channel the latest funding into extending its pharmaceutical industry partnerships and enhancing its technology.
