Rundo International Raises Nearly $15M In Series C Round

On May 1, 2019, Chinese biotechnology firm Rundo International has raised RMB 100 million (US$14.85 million) in a Series C round of financing from the country’s private equity firm Riverhead Capital, according to a statement released by Rundo.

Rundo International, founded in 2004 and headquartered in Shanghai, focuses on providing clinical research outsourcing services for domestic and overseas pharmaceutical and biotechnology enterprises. After 15 years of development, Rundo has become one of the few domestic CRO companies that can provide a one-stop clinical trial service from phase I to IV.

Since its establishment, Rundo has completed nearly 700 clinical trial projects with high quality. The company's service ability has been highly trusted by a large number of domestic and foreign pharmaceutical customers such as Pfizer, Novartis, and Otsuka, and fully recognized by many researchers.

After the completion of this round of financing, Rundo International will accelerate the pace of exploring the international market, open the U.S. branch construction, developthe Japanese business, and improve the ability of data and statistical services. At the same time, Rundo will further improve the clinical trial management system and realize a more efficient and standardized workflow to improve per capita productivity and corporate profitability.

"We are optimistic about the growth opportunities for clinical contract research organizations as the Chinese authority is encouraging the research and development of innovative drugs, which promotes the sustainable and rapid development of the field," said Huang Shengxuan, general manager of Riverhead Capital, in the statement. "Meanwhile, international multi-center clinical trials are bringing more outsourcing opportunities for Chinese CROs after China joined the International Conference on Harmonization (ICH)."

Proceeds of this round will be used to explore the overseas market, construct a branch in America, accelerate the business development in Japan, and improve its data management service.

Founded in January 2015, Riverhead Capital is one of the first batches of insurance private fund approved by China insurance regulatory commission, and the fund management scale has reached 17 billion yuan.