Quanrong MedTech Secures Tens of Millions in Series A+ Funding Led by Mifang Capital to Advance Integrated Clinical Trial Solutions

VCBeat (WeChat ID: vcbeat) has learned that Quanrong (Shanghai) Pharmaceutical Technology Development Co., Ltd. (hereinafter referred to as “Quanrong PharmaTech”) recently announced the completion of its tens-of-millions-of-yuan Series A+ financing round, led by Mifang Capital. WinX Capital served as the exclusive financial advisor.

Quanrong Medical Technology is a clinical trial SaaS service provider, offering products that include China’s leading clinical trial management system, dedicated to enhancing quality and efficiency across all stages of clinical research.

Quanrong Medical Technology focuses on supporting clinical research services and provides integrated solutions for clinical studies. It helps enterprises, hospitals, and other users streamline and automate healthcare project management processes while ensuring compliance with the requirements of various regulatory authorities. The company has successively launched a series of products designed for quality management in clinical research projects involving pharmaceuticals, medical devices, and diagnostic reagents, all of which adhere to international and Chinese Good Clinical Practice (GCP) guidelines. Quanrong offers comprehensive services across Phase I–IV clinical trials, Investigator-Initiated Trials (IIT), and Real-World Evidence (RWE) studies.

The core team members of Quanrong Medical Technology hail from industry-leading companies such as Pfizer, Prius, NuoSiGe, and Tencent, bringing extensive experience in the clinical research sector. The company boasts a professional team with leading expertise in software engineering, information security, and product design within China’s clinical research field. At its inception, Quanrong Medical Technology received strategic investments from Prius and Tigermed, prominent domestic providers of Site Management Organization (SMO) services and Contract Research Organization (CRO) solutions. Since its establishment, Quanrong Medical Technology has forged long-term, in-depth collaborations with multiple leading SMO and CRO companies in the industry, achieving rapid advancement and growth in product development, technology, services, and hospital coverage.

From the company’s perspective, Quanrong Medical Technology has established a product system centered on the S-Trial+ Clinical Trial Center Process Management Platform and the O-Trial+ Clinical Trial Execution Management Platform, enabling it to integrate top-tier platform resources and expand into a broader range of clinical service offerings. The company has obtained ISO 27001 and ISO 13485 certifications and complies with China’s Level 3 Classified Protection Requirements for Information Security.

Regarding this round of financing, Yang Fan, founder of Quanrong Medical Technology, expressed gratitude to Mifang Capital, a top-tier specialized fund in the pharmaceutical industry, for its support of the company. Quanrong Medical Technology is confident that, leveraging its team’s in-depth understanding of the clinical research industry, it can deliver superior products and services, create comprehensive solutions for enterprises, hospitals, and other users, and continue to contribute to China’s drug R&D sector.

Zhou Yujian, Managing Partner at Mifang Capital, believes that due to the unique nature and specialized characteristics of the pharmaceutical industry, there are stringent requirements for data collection, management, and statistical analysis, resulting in high barriers to entry. Furthermore, with the booming growth of China’s pharmaceutical R&D market, the clinical research phase generates vast amounts of data and entails substantial processing demands, creating an urgent need for effective tools to enhance efficiency. Mifang Capital is highly optimistic about the company’s diverse product portfolio and its comprehensive ability to empower hospitals in clinical research, and is confident that the company will achieve rapid development.

Dr. Zou Guowen, Founding Partner of WinX Capital, who spent nearly a decade working at Pfizer and Bayer, stated: “The innovative drug market is booming, with intensifying global competition. The efficiency of product pipeline development and the achievement of key milestones are particularly critical for companies. As an integrated clinical research solutions provider, Quanrong Medical Technology can significantly enhance efficiency. Strategic investments from industry groups such as Tigermed and PuruiSis, along with follow-on investments from prominent specialized funds like Taifu Capital and Mifang Capital, will propel the rapid growth of Quanrong Medical Technology.”