Tigermed raises $5m funding from Qiming

PR Log (Press Release) – Jul 31, 2008 – Chinese CRO Tigermed Consulting (Shanghai) has received $5 million in venture capital funding from Qiming Venture Partners.

Tigermed’s contract R&D services include clinical trials focusing on new chemical entities, biological statistics, medical translation and registration services.  The company has 11 offices in China, its main facilities being in Beijing, Shanghai and Hangzhou.  Earlier this year, Tigermed joined the CROSA CRO alliance, which also includes Sundia Meditech, HD BioSciences and NovaSecta.

With offices in Shanghai and Seattle, US, Qiming Ventures has $500 million under management.  The company focuses on high-growth companies in healthcare and three other sectors.  

Qiming has invested in one other CRO – Crown Bioscience (Santa Clara, California), which provides preclinical R&D services.  Crown established a strategic relationship with Tigermed in October 2007 under which Tigermed became its exclusive oncology clinical trial partner and Crown became Tigermed’s international representative.

Other healthcare investments for Qiming include:  Alltech (Chengdu) - MRI equipment; PharmaSky (Hangzhou) - community health services; GammaStar (Shanghai) - gyroscope knife for cancer surgery; and Guokang (Shenzhen) - healthcare services. Article submitted by www.jobs4dd.com, a specialist site listing latest international clinical research jobs and drug development industry news.