Tripod, the New CRO, Completes C Round Financing of RMB Hundreds of Mn

Healthcare Author: Siyi Zhao Editor: Lina Peng Apr 28, 2023 12:07 PM (GMT+8)

Tripod Preclinical Research Laboratories Co., Ltd. (鼎泰集团) announced the completion of C round financing of RMB hundreds of million.


Tripod Preclinical Research Laboratories Co., Ltd. (鼎泰集团) announced the completion of C round financing of RMB hundreds of million.

Established in 2008, Tripod provides preclinical research and development services primarily for global biopharmaceutical and medical device research and development. Its current business scope covers services from non-human primate disease models, pharmacodynamics and pharmacokinetics, early drug efficacy evaluation and GLP toxicity to translational medicine, clinical trials, bioanalysis, central laboratory, and biological sample library.

According to Tripod's official website, the company has a laboratory that is one of the earliest in China to obtain NMPA GLP certification, international animal welfare organization AAALAC certification, and is capable of conducting nine GLP non-clinical drug safety evaluation projects. It is also the first GLP laboratory to be listed on the National Equities Exchange and Quotations (新三板) in China, equipped with more than 500 sets of international advanced equipment and the Provantis computerized data acquisition system.

According to Frost & Sullivan's report, the global biopharmaceutical market was valued at USD 297.9 billion in 2020 and is expected to grow to USD 530.1 billion by 2025, with a compound annual growth rate of 12.20% between 2020 and 2025. From the perspective of the global drug market share, the global biopharmaceutical market share was 24% in 2021 and is expected to increase to 32% by 2025, with a significant growth rate. The three main driving forces behind the biopharmaceutical market are the healthcare upgrade demand brought about by economic growth, the aging population's favorable impact on the healthcare industry, and new technologies emerging from the continuous upgrading of the medical system.

Tripod has deep cooperation with many outstanding domestic and foreign enterprises, providing a high-quality and stable experimental animal supply system to empower global pharmaceutical companies and research institutions for integrated R&D. Tripod CEO Zhang Xuefeng stated that the group will strengthen resource restructuring, deepen the understanding of disease biology mechanisms and translational medicine, while enhancing international competitiveness, collaborating with new drug development enterprises and relevant parties, and building a biopharmaceutical benign development ecosystem to promote innovation and transformation.

In the field of biopharmaceuticals, representative Chinese companies include Sinovac Biotech (科兴生物), BAIYUNSHAN (白云山), Yangtze River Pharmaceutical Group (扬子江药), FOSUN PHARMA (复星医药), Wuxi AppTec (药明康德), and Chongqing Zhifei Biological Products (智飞生物), while internationally, companies such as Pfizer, AbbVie, Johnson & Johnson in the United States, Roche, Novartis in Switzerland, and AstraZeneca in the United Kingdom are also well-known.

This round of financing was led by Legend Capital (君联资本), with the participation of China Pacific Insurance Fund (太保资本), Shanghai LKC Investment (临港科创投), and Howbuy (好买基金). Existing shareholders, including HLC (弘晖基金), GL Ventures (高瓴创投), HJ-INVESTMENT (怀记投资), and Xiaochi Capital (晓池资本), also continued to invest.

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