Quanrong MedTech Secures Tens of Millions of RMB in Series B Funding with WinX Capital as Exclusive Financial Advisor
October 2021,Quanrong (Shanghai) Pharmaceutical Technology Development Co., Ltd. (hereinafter referred to as “Quanrong PharmaTech”) announced the completion of its Series B financing round, amounting to tens of millions of RMB. This round was jointly led by Yinglian Health Fund and Huimei Capital. WinX Capital continued to serve as the exclusive financial advisor.Previously, the company secured investments from leading CRO Tigermed, leading SMO Pharmaron (Puris), as well as renowned institutions such as Taifu Capital and Mifang Capital.
Quanrong Medical Technology centers its business on supporting clinical research services. By providing continuously updated digital solutions for clinical research, it helps sponsors, hospitals, CROs, SMOs, and other clients achieve streamlined, automated, and standardized clinical project management, thereby enhancing quality and efficiency across all stages of clinical research.
With the booming domestic pharmaceutical R&D market, the volume of data generated during clinical research phases is substantial, making it particularly important to improve data processing efficiency. To comply with the requirements of regulatory authorities in various countries, Quanrong Medical Technology has successively launched a series of products for quality management in the operation of clinical research projects involving drugs, medical devices, diagnostic reagents, and more, which conform to international and Chinese GCP standards. The company provides services in fields such as Phase I to IV clinical trials, IIT (Investigator-Initiated Trials), and RWE (Real-World Evidence) studies.
Currently, Quanrong Medical Technology has obtained ISO 27001, ISO 13485, and ISO/IEC 27701:2019 (Privacy Information Management System) international standard certifications. It has established a product ecosystem centered on S-Trial+ (Clinical Trial Central Process Management Platform) and O-Trial+ (Clinical Trial Execution Management Platform). By connecting all stakeholders through its systems, the platform enables every participant to share information, interact, communicate, and collaborate on a unified information platform. This facilitates faster and more efficient information transmission, making clinical trials simpler, more transparent, real-time, controllable, and standardized. The solution has already been adopted by numerous renowned hospitals in China and applied in over 1,000 clinical research projects.
In December 2020, the country’s first electronic informed consent and payment system (the Quanrong Yidatong 2E System) successfully passed the inspection by the Beijing Medical Products Administration. In May 2021, Yidatong 2E successfully supported the “Migraine Research Project” at West China Hospital of Sichuan University. In June 2021, the “Beijing Innovative Drug Clinical Trial Alliance for Liver Diseases” launched a pilot project using Yidatong 2E. Looking ahead, Quanrong Pharmaceutical Technology will continue to optimize key aspects of the clinical trial process, expand the scope of digitalization, and enhance the quality and efficiency of clinical research.
The core members of the Quanrong Medical Technology team hail from renowned domestic and international pharmaceutical companies, CROs, and SMOs such as Pfizer, Covance, Primus, Nuosi Ge, and Tencent. They possess extensive experience in the clinical research industry and boast a leading professional team in China in the fields of software engineering, information security, and product design for clinical research. Since its inception, the company has received strategic investments from Primus, a leading domestic clinical trial site management organization (SMO), and Tigermed, a prominent clinical trial technology service provider (CRO). Currently, Quanrong Medical Technology has established long-term, in-depth collaborations with multiple leading SMO and CRO companies in the industry, achieving rapid advancement and significant growth in product development, technology, services, and hospital coverage.
Regarding this round of financing, Yang Fan, Founder of Quanrong Medicine, stated: “We sincerely appreciate the investment from Yinglian Health Fund and Huimei Capital, as well as the continued support from our existing shareholders. We will continue to provide superior innovative solutions for digital and intelligent clinical trials, empowering sponsors, CROs, SMOs, and hospitals to make clinical trials more efficient, transparent, and intelligent. We remain committed to being the leading Chinese provider of digital and intelligent clinical trial solutions.”
Yinglian Health Fund stated:The clinical trial industry is plagued by information silos and opacity, making digitalization and intelligence a major trend. Quanrong Medicine has integrated abundant clinical resources, with product designs that respect clinical practice, which will strongly promote the digitalization and intelligence of clinical trials. Yinglian Health Fund is willing to work together with the company to integrate resources, empower the industry, and enhance the overall efficiency and quality of the clinical trial sector.
Huimei Capital stated:The efficiency and quality of clinical research are critical to medical innovation in clinical practice. By developing specialized service modules for rapid study site initiation, investigational drug management, genetic resource administration filing, and subject visit management, Quanrong Medical Technology significantly enhances the operational efficiency and quality of clinical trials. This empowers healthcare innovation enterprises to accelerate the clinical adoption of innovative medical products, ultimately benefiting a broad patient population by addressing unmet clinical needs. Therefore, Huimei Capital has firmly chosen to partner with Quanrong Medical Technology, looking forward to jointly advancing clinical medical innovation in China.
Kaicheng Capital stated:China’s pharmaceutical industry is in a period of rapid development, with corporate product pipelines progressively entering clinical trial phases. How to ensure the quality and efficiency of clinical trials amidst fierce competition is an urgent challenge facing all pharmaceutical companies. As a provider of informatization solutions for clinical research, Quanrong Medicine leverages strategic collaborative resources from Tigermed and Pricol, coupled with comprehensive support from professional star investors including Taifu Capital, Mifang Capital, Yinglian Health Fund, and Huimei Capital. Its future development should not be underestimated.
Yinglian Health Fund was established in early 2019, with cornerstone investors drawn from leading pharmaceutical companies in the industry. Research-driven, the fund deeply explores global investment opportunities in cutting-edge innovative drugs, medical technologies, and devices. It co-incubates companies with top scientists, principal investigators (PIs), and clinical translation teams to address the challenge of translating source innovation from concept to reality (0 to 1).
Huimei Capital is a specialized fund focused on healthcare investment. Leveraging the ecosystem advantages of Huimei Medical Group, we invest in the healthcare ecosystem through multi-dimensional and holistic approaches, striving to build a professional investment platform with international vision and local execution capabilities, helping early-stage and growth-stage healthcare companies grow rapidly. We work closely with innovative healthcare companies in rapid growth, providing comprehensive strategic value-added services and systematic empowerment from a global perspective, sharing Huimei Capital's global business network and resource system with outstanding entrepreneurs.
WinX Capital is a leading investment bank in China’s healthcare sector. Five members of its founding team hold Ph.D.s in Global Finance from the School of Finance at Tsinghua University’s PBCSF, while its frontline team boasts an average of over 10 years of experience in management, investment, and M&A, with cumulative transaction values exceeding RMB 30 billion. Headquartered in Beijing and Shanghai, WinX Capital serves more than 3,000 active institutional investors and industrial conglomerates. In 2020, it was ranked among the “Top 5 Most Promising Emerging Investment Banks in China” by 36Kr’s WISE 2020 list, and named one of the “Top 4 Best Financial Advisory Firms in Healthcare” for 2020 by Qiming Technology & Xinsheng Chuangfu.