Taimei Medical Technologies Secures RMB 300 Million Series D Funding to Accelerate New Drug Development Through Digital Innovation

Taimei Medical Technology announced that it has recently completed a RMB 300 million Series D financing round. New investors include SAIF Partners, Morningside Venture Capital, Zheshang Venture Capital, SoftBank China, and Ivy Capital, while existing shareholder Kaifeng Ventures continued to participate.

Taimei Medical Technology is a leading provider of technology solutions in the life sciences sector in China, with products and services covering clinical research and pharmacovigilance. TMCloud (Taimei Cloud) is an ideal platform for multi-party collaboration among pharmaceutical companies, contract research organizations (CROs), research institutions, patients, and regulatory authorities to conduct R&D activities. It helps enhance R&D efficiency, reduce R&D costs, optimize research processes, improve research quality, and accelerate the market launch of new drugs.

Since its establishment in 2013, Taimei Medical Technology has collaborated with over 200 leading pharmaceutical companies and R&D service providers both domestically and internationally, earning widespread recognition and acclaim from its clients. As a National High-Tech Enterprise, Taimei holds dozens of patents and software copyrights, has sequentially obtained ISO 9001, ISO 27001, and ISO 20000 quality system certifications, and has become a CDISC- and WHO-UMC-certified supplier.

In 2015, Taimei Medical Technology received angel-round investment from Kaifeng Venture Capital. Subsequently, in 2016, it secured Series A funding from Matrix Partners China, followed by Series B funding led by Northern Light Venture Capital, with participation from Matrix Partners China and Kaifeng Venture Capital. In 2017, the company completed its Series C financing round, led by Yuansheng Capital, with follow-on investments from Matrix Partners China, Northern Light Venture Capital, and Kaifeng Venture Capital.

Regarding this round of financing, Zhao Lu, Chairman and CEO of Taimei Medical Technology, expressed gratitude to both new and existing shareholders for their strong support. Amid the current fervor in new drug development, Taimei offers unique technical solutions, committed to providing a robust support platform for industry advancement. In the future, Taimei will continue to strengthen the development of its Taimei Cloud Platform, extensively engage with partners, and drive progress in China’s new drug research and development.

Lu Xu, Partner at SAIF Partners, believes that China’s pharmaceutical industry is in a phase of rapid development and innovation. However, the informatization process in the field of clinical research is severely lagging behind. Under the leadership of its management team and leveraging years of deep industry expertise, Taimei Medical empowers innovative pharmaceutical companies by building an ecosystem collaboration platform, thereby becoming a key strategic technology partner in the life sciences sector and a new driving force for the development of the pharmaceutical industry.

Jing Xutian of Morning Capital pointed out, “In the more mature U.S. drug development market, there are already publicly listed companies such as Medidata and Veeva that focus on providing technical solutions to pharmaceutical companies and CROs. In China, given its abundant clinical research resources and further bolstered by favorable factors including talent, technology, and policy support, the drug development market is poised for rapid expansion. As a leading technology service provider in this field, Taimei can capitalize on industry tailwinds while continuously iterating its products at a fast pace, thereby consistently supporting China’s drug development efforts.”

Zhang Qiang, Director of the Healthcare Division at Zheshang Venture Capital, stated that the current state of the European and American markets in the field of clinical research informatization represents, to some extent, the future development direction of the Chinese market. The cloud platform services launched by Taimei, built upon comprehensive optimization of its various products and services, enable better collaboration among all industry stakeholders. We look forward to Taimei continuing to strategize from the standpoint of an industry leader and consistently driving the advancement of clinical research informatization in China.

Jiang Min, a partner at SoftBank China Capital, believes that with the rapid development of China’s biopharmaceutical industry, particularly in innovative drugs, the demand for clinical informatics is on the verge of explosive growth. The new model of clinical research services based on informatization holds significant potential. He is confident that Taimei Medical Technology, already a domestic leader, will bring more innovative services to the industry under its management team’s leadership and make its own contribution to the development of China’s biopharmaceutical sector.

Weng Jiyi, Founding Partner of Ivy Capital, stated: “As a leading provider of informatics solutions for new drug R&D in China, Taimei Medical Technology is well-positioned to continuously benefit from the rapid growth in R&D investment by Chinese pharmaceutical companies and the ongoing enhancement of regulatory compliance. Ivy Capital is optimistic that Taimei Medical Technology will leverage this round of financing to build a cloud platform for efficient collaboration in new drug R&D, while further expanding its footprint in areas such as pharmacovigilance.”

Wen Gang, a partner at Kaifeng Venture Capital, believes that innovations driven by digital technology will bring about transformative changes to the global drug R&D sector. Key stages of R&D are increasingly shifting from medical laboratories and clinical trial centers to digital laboratories, which will significantly save pharmaceutical companies’ R&D costs and time, enhance efficiency, and ultimately boost their competitiveness in the industry. Taimei Medical Technology is undoubtedly the fastest-growing domestic company in providing digital technology services to life sciences enterprises, having surpassed all domestic and international competitors to become the market leader in multiple segments.

We firmly believe that, against the backdrop of the life sciences sector’s growing reliance on digital technologies and the narrowing gap between domestic drug R&D capabilities and those of leading international enterprises, Taimei Medical Technology, under the leadership of its management team, is poised for accelerated growth. It has the opportunity to not only strengthen its position in the domestic market but also emerge as a model Chinese enterprise for technological innovation and global expansion in the international market.

Life Capital served as the exclusive financial advisor for this round of financing.

Source: Taimei Medical Technology