dMed-Clinipace, the global full-service Clinical Contract Research Organization (CRO), announced today the recent successful completion of a US$50 million Series C+ financing with participation from a group of new, leading international healthcare investors. Led by Springhill Fund, the round also saw contribution from funds managed by Rock Springs Capital and Superstring Capital.
dMed-Clinipace’s Global Chairman and CEO, Dr. Lingshi Tan, said, “We are delighted to welcome this new group of leading specialist investors, who will bring tremendous resources and strategic insight to accelerate our global growth while also further expanding our investor base. We are also grateful to existing investors who have kindly supported in every way to make this Series C+ possible and helped set up a strong foundation for our global progress.”
The Series C+ financing proceeds have helped finance the recent merger between dMed Global and Clinipace Incorporated. Announced in April 2021, the combination of dMed and Clinipace has established a global full service CRO. The combined entity has more than 1,700 staff in 22 offices across the Americas, Europe and Asia-Pacific, including more than 700 staff in China.
dMed-Clinipace is now a leading oncology and rare disease mid-size CRO, with expertise in clinical development, regulatory, pharmacovigilance and clinical analytics, and additional therapeutic focus in gastroenterology, nephrology, and women's health.
dMed-Clinipace’s new investors join an existing group of international institutions with significant experience in both private and public markets. These include dMed’s Series C lead investor Fidelity Management and Research Company LLC as well as other new series C participants Sequoia Capital China, Kaiser Foundation Hospitals and E Fund. dMed’s angel, A and B rounds were led by Qiming Venture Partners, Lilly Asia Ventures, and Vivo Capital, who have taken opportunities to increase their contributions to dMed’s capital since the company’s inception in 2016.
Source: dMed Biopharmaceutical
