EdiCure Secures Tens of Millions RMB in Series A Funding from Qiming Venture Partners to Advance Clinical Trial Information Systems

VCBeat (WeChat ID: vcbeat) has learned that Jiaxing Clinflash Computer Technology Co., Ltd. (“Clinflash”), a supplier of clinical trial information systems, completed its Series A financing round worth tens of millions of RMB in early 2020. The round was exclusively invested by Qiming Venture Partners, which will fully support Clinflash in the development of its Clinflash series of clinical trial systems, team optimization, and market expansion.

Clinflash was established in 2014 and was recognized as a National High-Tech Enterprise in 2018. Since its inception, Clinflash has developed the Clinflash suite of clinical trial systems, including the Clinflash EDC (Electronic Data Capture) system, the Clinflash IRT (Interactive Response Technology) randomization and supply management system, and the Clinflash Safety pharmacovigilance system. This suite of systems has been widely applied in large-scale registration and post-marketing clinical studies both domestically and internationally, serving renowned pharmaceutical R&D enterprises at home and abroad. Its applications span multiple fields, including innovative drugs, generic drugs, medical devices, and in vitro diagnostics.

Benefiting from a senior team of clinical trial experts, robust technical expertise, and a comprehensive quality control system, the Clinflash series has earned a strong reputation in the industry and is highly trusted by users. To date, it has partnered with more than 300 leading pharmaceutical companies and CROs both in China and abroad, providing systems and services for over 600 clinical research projects.

In the field of innovative drugs, multiple Phase III clinical trials utilizing the Clinflash EDC and Clinflash IRT systems have been successfully completed, with numerous products having successfully submitted New Drug Applications (NDAs) and achieved market launch. Clinflash Safety is currently adopted by renowned pharmaceutical and medical device companies both in China and abroad. Compliant with the E2B R3 standard, this system is widely used for the submission of individual case safety reports and signal monitoring in both clinical trials and post-marketing settings.

Hu Xubo, Managing Partner at Qiming Venture Partners, stated, “The development of clinical trials in China and globally requires support from high-quality information systems that integrate mobile technology and enable continuous advancement. Clinflash boasts a robust team of experts and technical professionals. By gaining deep insights into the needs across all stages of clinical trials, the company has developed a suite of high-quality clinical research systems and remains committed to addressing customer needs and enhancing product quality. We are delighted to have the opportunity to invest in Clinflash and look forward to working together to promote the Clinflash system in the Asia-Pacific region and international markets.”

Guan Weihua, General Manager of Clinflash, stated, “Following this Series A financing round, we will rapidly expand our market presence and extend our coverage to more leading pharmaceutical R&D enterprises and CRO companies both domestically and internationally. Clinflash will also increase its investment in system development, operations and maintenance support, and hardware, continuously enhancing system quality and customer service to help pharmaceutical companies improve their R&D efficiency and effectiveness. Meanwhile, we will further expand our system and technological layout; the Clinflash CTMS (Clinical Trial Management System) is expected to launch in 2020, and advanced technologies such as artificial intelligence will be integrated into our existing systems.”

As an industry leader in information technology solutions for clinical research in China, Clinflash Healthcare Technology was established in 2014. Headquartered in Shanghai, the company boasts a robust team of clinical trial experts and IT R&D support personnel, with offices in Jiaxing and Hangzhou. Clinflash offers the Clinflash suite of clinical trial information systems, including the Clinflash EDC (Electronic Data Capture) system, the Clinflash IRT (Interactive Response Technology) randomization and supply management system, and the Clinflash Safety pharmacovigilance system. The company holds multiple core technologies and exclusive patents and was recognized as a National High-Tech Enterprise in 2018. To date, Clinflash has collaborated with over 300 leading domestic and international pharmaceutical companies and CROs, providing systems and services for more than 600 clinical research projects, earning widespread trust among its users.

Qiming Venture Partners, established in 2006, has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. The firm manages seven US dollar funds and five RMB funds, with total assets under management exceeding USD 4 billion. Since its inception, Qiming Venture Partners has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, the firm has invested in more than 320 companies, among which over 110 have achieved exits through listings on exchanges including the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Taipei Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, as well as through mergers and acquisitions. Nearly 30 of these portfolio companies have become industry-recognized unicorns and super unicorns.