ClinChoice Announces $150 Million Funding Round to Accelerate Global Expansion and Enhance Clinical CRO Leadership

Recently, ClinChoice, an international innovative clinical CRO company, announced the completion of a $150 million financing round led by Legend Capital, a well-known private equity investment firm. Taikang Life Insurance, Sherpa Capital, and existing shareholders Lilly Asia Ventures, Xingze Capital, and Yuanhe Origin participated in the follow-on investment, with Haoyue Capital serving as the exclusive financial advisor. The proceeds from this round will be dedicated to continuous expansion in China and overseas, development of innovative businesses, and mergers and acquisitions. To date, ClinChoice has completed multiple rounds of financing, involving several renowned investment institutions such as Goldman Sachs Group, DFJ DragonFund, and Yuanhe Origin.

ClinChoice: “Kun Xing Zhi Yuan, Ling Chuang Wei Lai” – Becoming the Ideal Partner for Clinical R&D of Innovative Drugs and Medical Devices

ClinChoice, headquartered in China and serving the global market, boasts a professional team of over 3,000 members across China, the United States, Europe, and Southeast Asia, providing comprehensive one-stop clinical R&D services to emerging biopharmaceutical and medical device clients worldwide. The company has successfully completed more than 1,000 full-service Phase I–IV clinical projects, along with regulatory submissions, clinical design, and development work for nearly 100 innovative drugs. With over 25 years of delivering high-quality services, ClinChoice strictly adheres to GCP and ICH standards. Its mature, standardized operational processes are recognized by more than 50 large multinational corporations and have passed multiple on-site inspections by the National Medical Products Administration (NMPA), the U.S. FDA, and the European EMA.

ClinChoice adheres to a dual strategy of organic growth and external expansion, integrating high-quality global resources and teams to continuously enhance its core competitiveness. Since 2020, the company has actively established a presence in innovative fields such as oncology, cell therapy, and gene therapy, accumulating extensive experience and earning a strong reputation. It has currently formed deep collaborations with numerous leading pharmaceutical companies both in China and abroad, as well as hundreds of innovative biotech firms. Last year, ClinChoice successfully completed the acquisitions of Qihuang and Libiyi, strengthening its layout in high-quality traditional Chinese medicine (TCM), bioequivalence (BE) studies, and Phase I clinical trial platforms. The successful completion of this round of financing will further empower the company to rapidly achieve global expansion by combining its fast-paced organic growth with a series of mergers and acquisitions. This will enable ClinChoice to provide world-class clinical services for the global expansion of innovative Chinese drugs, establishing itself as the preferred clinical development partner for emerging biopharmaceutical and medical device companies worldwide.

Mr. Zhen Ling, Chairman and CEO of ClinChoicestated: “We extend our gratitude to all investment institutions for their trust in ClinChoice. The capital injection in this round fully validates ClinChoice’s rapid development and future potential in the clinical CRO sector. With the completion of this new financing round, we will further advance our strategic layout in both domestic and global markets, drive iterative upgrades of our business operations, and accelerate commercialization processes, thereby contributing our share to safeguarding human health and safety.”

Mr. Zhou Hongbin, Co-Chief Investment Officer at Legend Capitalstated, “We are delighted to collaborate with the company’s management team and existing investor-shareholders, including Lilly Asia Ventures and Goldman Sachs. We appreciate their support and recognition of Legend Capital. ClinChoice is a clinical CRO company we have been closely monitoring. Prior to making our investment decision, we conducted comprehensive and in-depth due diligence, and were deeply impressed by the company’s competitive advantages, innovative capabilities, and talented team. We are committed to working together to establish ClinChoice as a practitioner and leader in the clinical CRO industry.”

Mr. Ding Yameng, Founding Managing Partner and Chief Operating Officer of Haoyue Capitalstated: “The team at Haoyue Capital is honored to have assisted ClinChoice in completing its new round of strategic financing, introducing top-tier long-term partners and laying a solid foundation for the company’s sustained high-speed growth in the future. In recent years, the rapid development of China’s innovative drug industry has created an urgent demand for a new generation of enterprises with internationalized capabilities in innovative clinical CRO services. Throughout our collaboration with ClinChoice, our team has been deeply impressed by the senior management team led by Mr. Zhen, whose forward-looking global vision, ability to integrate global resources, and strong execution capabilities stand out. We firmly believe that, following this successful financing, ClinChoice will deliver higher-quality international clinical trial services to Chinese innovative pharmaceutical companies.”

ClinChoice was established in Tianjin in 2007 with the mission of supporting the research and development (R&D) of locally innovative pharmaceuticals. Since its inception, ClinChoice has grown organically and through strategic acquisitions to become a leading clinical contract research organization (CRO) dedicated to supporting the R&D of innovative drugs and medical devices. The company now employs over 3,000 clinical R&D professionals worldwide, stationed in key hubs for pharmaceutical R&D both in China and abroad. Guided by its core philosophy, “Kun Xing Zhi Yuan, Ling Chuang Wei Lai” (Steadfast Progress, Innovating the Future), ClinChoice aspires to be the ideal partner for clinical R&D of innovative drugs and medical devices.

Leveraging extensive experience, unique advantages, and a professional team, the company provides flexible, efficient, high-quality, and comprehensive one-stop services to domestic clients in innovative pharmaceuticals and medical devices. Our professional service areas include clinical operations, project management, biostatistics, data management, statistical programming, regulatory affairs, medical affairs, feasibility studies, human genetic resource management, clinical safety management, clinical trial site management, natural medicine/traditional Chinese medicine, and Phase I clinical trials, among others. The company has repeatedly received prestigious awards in China, such as “Best Clinical CRO” and “Best Enterprise in Medical Services,” consistently leading the industry.

Since its inception, the Company has deployed nearly 1,500 clinical R&D professionals across approximately 50 major cities in China, and established long-term, stable collaborations with over 300 GCP-accredited clinical research institutions and more than 1,000 investigators domestically. Furthermore, to meet the growing demand for Chinese innovative pharmaceutical companies to expand globally, the Company has actively expanded its overseas presence. Currently, it boasts an overseas team of more than 1,400 professionals stationed in countries including the United States, Canada, the United Kingdom, Armenia, India, the Philippines, and Japan, providing robust support to clients through deep localization initiatives and tailored strategies.

In the future, ClinChoice, with China as its core and leveraging its global team of professionals providing full-service clinical R&D, will collaborate with all stakeholders to accelerate the clinical development of innovative drugs and medical devices, jointly building a more sustainable industry ecosystem.

Legend Capital was established in 2001 as a professional investment firm specializing in early-stage venture capital and growth-stage investments. Over the past two decades, Legend Capital has accumulated comprehensive and mature fund management expertise along with extensive industry resources. The firm’s mission is to foster corporate innovation and growth, thereby driving industrial progress and social development, by providing capital and managerial support. For many years, Legend Capital has adhered to a proactive approach to value-added services, contributing to the rise of multiple world-class leading enterprises and supporting the development of numerous national-level “Specialized, Refined, Differential, and Innovative” (SRDI) Little Giant companies. Meanwhile, Legend Capital actively fulfills its social responsibilities by establishing an ESG framework and pursuing sustainable development.

HaoYue Capital, established in January 2014, is a leading industry-focused investment bank in China specializing in the healthcare sector. Headquartered in Shanghai, the firm maintains regional offices in Beijing and Shenzhen. Committed to empowering growth through capital and research-driven insights, HaoYue Capital facilitates successful connections between outstanding Chinese healthcare enterprises and the capital markets, thereby creating added value for its clients. The partnership team comprises seasoned investment bankers with extensive experience in China’s healthcare industry, supported by a professional team of over 70 members. HaoYue Capital closely monitors dynamics and trends in the healthcare investment market, with its research and transaction coverage spanning multiple sub-sectors, including biopharmaceuticals, innovative medical devices, IVD and life sciences, health services, and smart healthcare. In 2021, the firm completed more than 50 complex transactions involving private financing, M&A integration, and spin-offs of listed companies, with a total transaction value amounting to tens of billions of RMB, securing a leading position across various healthcare sub-sectors.