dMed Biopharmaceutical Completes $50 Million Series B Financing to Enhance Clinical Operations and Global Expansion

Shanghai, China, October 16, 2019—Dimerix Biopharma (Shanghai) Co., Ltd. recently announced the completion of a Series B financing round of nearly US$50 million, led by Vivo Capital, with follow-on investments from Legend Capital, existing shareholder Qiming Venture Partners, and Lilly Asia Ventures. Following this round of financing, Dimerix will further strengthen its comprehensive capabilities in clinical operations and information technology infrastructure, accelerate its overseas strategic layout, and enhance its international competitiveness in clinical development and product registration.

Previously, Dimai secured a Pre-A round of financing led by Qiming Venture Partners, as well as an A round co-led by Qiming Venture Partners and Lilly Asia Ventures.

In recent years, global pharmaceutical companies have continuously increased their R&D investment. To improve efficiency and reduce R&D costs, these companies have strengthened their collaborations with Contract Research Organizations (CROs). Driven by the rising penetration rate of the CRO industry and the sustained growth in pharmaceutical R&D spending, the global CRO sector has experienced rapid development, with promising market prospects. Benefiting from favorable policies in the healthcare industry, China’s CRO industry has grown at a faster pace than the global market.

Against this backdrop, Dima was established as a global, full-service, “beyond-traditional” clinical CRO. It now possesses the capability to conduct regulatory submissions and simultaneous development across China, the United States, and Europe. Since its inception three years ago, Dima has attracted industry elites and renowned experts from both China and the United States. The company has established offices in major Chinese cities such as Shanghai, Beijing, and Wuhan, as well as in New York, Washington, D.C., San Francisco, and Brussels, with a global workforce exceeding 600 employees. In mid-2026, Dima completed the acquisition of Target Health Inc., a U.S.-based company, thereby accelerating its global expansion and service capabilities.

Dr. Tan Lingshi, Founder and CEO of Dima Therapeutics, stated, “Since its inception, the company has provided high-quality clinical trial services for over 200 projects across more than 80 innovative pharmaceutical companies both in China and abroad, demonstrating the international capabilities and standards of a new generation of clinical CRO. Following this round of financing, Dima Therapeutics will be better positioned to serve a broader range of innovative pharmaceutical enterprises domestically and globally, helping them effectively enhance the efficiency of clinical R&D, scientifically shorten development cycles, and increase the probability of successful clinical outcomes.”

As the lead investor in the Series B financing round, Mr. Fu Shan, Managing Partner, Co-CEO, and CEO of Greater China at Vivo Capital, stated: “Led by Dr. Tan Lingshi, Dimed represents a new generation of CROs, possessing the capability and strength to undertake high-level R&D tasks. Within just three years, it has rapidly established a strong reputation in the industry, and we believe it holds significant growth momentum for the future. We are delighted to participate in Dimed’s growth journey.”

Dima Biopharmaceutical Technology (Shanghai) Co., Ltd. is a clinical contract research organization (CRO) based in China with a global outlook. Our team comprises many industry elites from multinational pharmaceutical companies and authoritative experts from the pharmaceutical regulatory agencies of both China and the United States. Leveraging years of extensive experience in drug development, we provide clients with more valuable recommendations and more reliable operational management, covering everything from study design to regulatory submission strategies, and from operational execution to quality assurance. We deliver high-quality, high-standard, comprehensive clinical services to biopharmaceutical and medical device companies in China and worldwide, thereby enhancing the efficiency of clinical R&D, shortening development cycles, and increasing the likelihood of R&D success.

Our core services include expert consulting, regulatory affairs and strategy, early development and clinical pharmacology, clinical science and medical affairs, clinical trial operations, biostatistics, clinical programming, data management, drug safety and pharmacovigilance, quality assurance and clinical auditing, and system support.

Our team spans Shanghai, Beijing, Wuhan, Guangzhou, Chengdu, New York, Washington, D.C., San Francisco, and Brussels, with over 600 employees worldwide. More than 60% hold a master’s degree or higher, and one-fifth have over 10 years of professional experience.

Vivo Capital, founded in 1996, is an investment firm focused on the life sciences and healthcare sectors, managing over $3 billion in assets. Currently, Vivo Capital invests in promising biotechnology and life sciences companies in China, the United States, and Europe through its growth-stage and private equity funds; its public market funds primarily invest in publicly listed healthcare companies, while its PANDA fund targets high-potential early-stage innovative enterprises.

Vivo Capital identifies and invests in high-potential companies through its unique, multi-faceted investment strategy, partnering closely with them. With operations spanning all investment stages in China, the United States, and Europe, Vivo Capital leverages its cross-market expertise to help portfolio companies expand geographically and launch new products. Vivo Capital maintains offices in Palo Alto, California, as well as in Beijing, Shanghai, Hong Kong, and Taipei across Greater China.