dMed Snares Nearly 50 Million Dollars in Series B financing

According to PRNewswire, dMed Biopharmaceutical Co., Ltd. (dMed) has announced the completion of a nearly 50 million dollars Series B financing, led by Vivo Capital, and followed by Legend Capital, Qiming Venture Partners, and Lilly Asia Ventures. This round of financing will be used to improve the comprehensive capacity and information construction of its clinical operation and accelerate the expansion of the overseas market, clinical development, and product registration.

The Pre-Series A financing was led by Qiming Venture Partners, and the Series A financing was led by Qiming Venture Partners and Lilly Asia Ventures. In the middle of this year, dMed completed its acquisition of Target Health, a full-service New York-based CRO, to extend its global market and add new technologies to its global service offering.

dMed is a full-service Clinical Contract Research Organization (CRO), which provides industry solutions to pharmaceutical and medical device companies in China and across the globe. The company offers innovative drug development strategies and helps Chinese innovative pharma companies expand globally, effectively raise efficiency in clinical R&D, scientifically shorten the research cycle, and boost success rates by tapping into the world's second-largest pharmaceutical market. 

dMed’s business covers consulting, early development & clinical pharmacology, clinical operations, biostatistics & programming, data management, drug safety & pharmacovigilance, clinical science & medical affairs, quality assurance, regulatory affairs and strategy.

Since its launch three years ago, dMed has attracted industry elites and well-known experts in both China and the US to join the company. It has set up offices in major cities, including Shanghai, Beijing, Wuhan, New York, Washington, San Francisco, and Brussels, and currently employs more than 600 professionals globally.

Vivo is a healthcare-focused investment firm formed in 1996 with over $3 billion under management. Vivo is currently making investments out of its growth and private equity fund into healthcare companies in the U.S., Europe and China, from its Opportunity Fund into promising public healthcare companies, and from its PANDA Fund into promising early-stage innovative healthcare companies.

Vivo enjoys a strong history of forging cross-border partnerships for its companies that enable geographic expansion and new product registration & commercialization. 

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and San Francisco Bay Area. Currently, Qiming Venture Partners manages seven US Dollar funds and five RMB funds with over US$4 billion assets under management. Qiming Venture Partners invests in information technology, new consumer business patterns, and the healthcare sector.