2015 is the inflection point for the development of China's innovative drug industry and CRO (clinical research organization). On July 22nd, 2015, after CDE (Center For Drug Evaluation) released the announcement on self-examination and verification of drug clinical trial data, the supervision of Chinese clinical trials moved towards standardization. The investment and financing of innovative drugs in China continued to increase, laying the foundation for the growth of CRO.
CRO (clinical research organization) ClinChoice announced the completion of its USD 150 million Series E round of financing. The investment was led by Legend Capital (Chinese: 君联资本) and co-invested by Taikang Life Insurance (Chinese: 泰康人寿), Sherpa Healthcare Partners (Chinese: 夏尔巴资本) and existing shareholders, including Lilly Asia Ventures (Chinese: 礼来亚洲基金), Apricot Capital (Chinese: 杏泽资本) and Oriza Holdings (Chinese: 元禾原点).
ClinChoice is a contract research organization that provides one-stop clinical consulting services, platforms and solutions to address clients' business and scientific needs. Its businesses cover data management, statistical programming, biostatistics, clinical operations, regulatory affairs, pharmacovigilance, toxicology, medical affairs, medical writing, compliance, and so on.
In 2020, ClinChoice began actively deploying in tumour, cell and gene therapy. At present, it has in-depth cooperation with many top pharmaceutical companies globally and hundreds of biotech companies.
Clinchoice completed the acquisition of Beijing Qihuang CRO (Chinese: 北京岐黄) and AccuBE PharmaTech (Chinese: 莱必宜) to strengthen the layout of high-quality traditional Chinese medicine, bioequivalence test and phase I clinical trial platform.
Proceeds of the financing will assist the company's expansion worldwide and the following mergers and acquisitions. The company will provide world-class clinical services for China's innovative drugs' overseas business and become the candidate clinical research and development partner for emerging biopharmaceuticals and devices at home and abroad.
Chinese CROs include Tigermed (Chinese: 泰格医药) and Wuxi AppTec (Chinese: 药明康德), as well as followers such as Sunnovo (Chinese: 阳光诺和), Yidu Tech (Chinese: 医渡科技) and SMO ClinPlus (Chinese: 普蕊斯).