Recent Articles in CRO/CMO Services

dMed Global, a Shanghai clinical CRO, merged with Clinipace, a North Carolina clinical CRO, to offer cross-border clinical contract research services. In 2016, dMed was founded by Dr. Lingshi Tan, who had been the first General Manager of Pfizer's China R&D Center. In 2019, dMed acquired US-based Target Health, a high-tech CRO with expertise in digital capabilities and regulatory affairs. dMed employs nearly 700 professional staff in more than 31 China cities and three US offices. Both CROs offer services to biotech, pharma and medical device companies. More details....

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Suzhou Porton Biologics, a gene and cell therapy CDMO service company, closed a $61 million Series A funding. In late 2020, the Phase I part of Porton's GMP facility was approved, and it began offering services that range from process development to clinical production of plasmids, viral vectors and cell therapies. Proceeds from the financing will support Phase II construction. Porton Biologics is a subsidiary of Chongqing-headquartered CDMO Porton Pharma Solutions. More details....

Stock Symbol: (SHA: 300363)

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StoneWise, a Beijing company offering AI-based small molecule drug development services, raised $100 million in Series B and B+ rounds. Founded in 2018, StoneWise has built a smart drug development platform based on AI algorithms, computational chemistry, pharmaceutical chemistry and computational biology. The company says its technology promotes a development process that is more time-efficient and cost-effective. The B round was led by Legend Capital, while the B+ round was co-led by Greater Bay Area Homeland Development Fund and Lightspeed China. More details....

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Hangzhou Innoforce Pharma completed a $96 million Series A financing to support its CRO/CDMO and biomanufacturing services. Innoforce earmarked the proceeds to build a large campus for its operations in Hangzhou Bay Biotech Valley. The first phase of construction will cover 590,550 square feet and will meet international GMP standards for biologic manufacturing and bioprocess development laboratories. In addition to standard CRO services, Innoforce plans to offer equity investment to select partners. More details....

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Shanghai WuXi Biologics will acquire a 90% interest in CMAB Biopharma, a CDMO located in Suzhou. CMAB offers services that range from cell-line development, process development to clinical GMP manufacturing. It was backed by CBC Group and other investors including Ming Bioventures.  WuXi and CBC will collaborate to develop and manufacture biologic drugs for CBC portfolio companies. CBC was formerly known as C-Bridge Capital. Yesterday, WuXi Bio announced it would acquire Pfizer's biotech drug manufacturing facility in Hangzhou. More details....

Stock Symbol: (HK: 2269)

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