Taimei Medical Technologies Announces Completion of RMB 100 Million Series C Financing
On February 18, Taimei’s official WeChat account officially announced the completion of its RMB 100 million Series C financing round, led by Yuansheng Capital, with participation from Northern Light Venture Capital, Matrix Partners China, and Kaifeng Ventures.
Previously, Taimei Medical Technology secured angel-round funding from Kaifeng Venture Capital in 2014, Series A funding from Matrix Partners China in 2015, and Series B funding from Northern Light Venture Capital in June 2016. To date, the company has raised a total of nearly RMB 200 million.
Following this round of financing, Taimei will continue to expand its market presence and strengthen its leadership in clinical research informatics and pharmacovigilance in China. Furthermore, Taimei will sustain its investment in product R&D to deliver more professional, user-friendly, and compliant products and services, ensuring an exceptional customer experience and advancing the digitalization of the industry.
Mr. Richard Peng, Founding Partner of YuanSheng Capital, stated that Taimei Medical Technology aligns closely with YuanSheng Capital’s investment theme of “enhancing efficiency through the Internet.” By leveraging information technology, Taimei Medical Technology assists pharmaceutical companies and clinical research organizations in optimizing process management, data collection, and data analysis during drug clinical trials. This effectively improves the efficiency of clinical trials and holds significant importance for promoting the standardization of new drug clinical trials, as well as advancing public health and welfare.Taimei’s management team boasts extensive experience and is driven by idealism and entrepreneurial passion for the pharmaceutical industry. The company’s products have gained recognition from numerous renowned drug R&D enterprises both in China and abroad. We are delighted to establish this partnership with Taimei and look forward to its future growth into a great enterprise that continuously drives the advancement of the pharmaceutical industry.
Mr. Zhao Lu, CEO of Taimei Medical Technology, stated: “Through this round of financing, we have deeply appreciated the commitment and actions of the Yuansheng Capital team in supporting corporate development. We have also gained valuable resources and expertise from the Yuansheng team, led by Richard. We are confident that Yuansheng Capital will be a strong collaborator and driver in our company’s growth journey.” In addition, existing shareholders such as Northern Light Venture Capital, Matrix Partners China, and Kaifeng Ventures continued to provide steadfast support for this financing round, demonstrating their confidence and expectations in Taimei. The company expresses its sincere gratitude.
Shanghai Guangjue served as the financial advisor for this round of financing.
As a cloud solutions provider in the life sciences sector, Taimei leverages its professional expertise in clinical research and pharmacovigilance, along with leading information technology, to independently develop core products including AIMS (Clinical Trial Management System, CTMS), eCollect (Electronic Data Capture system, EDC), eBalance (Interactive Web Response System, IWRS), eReport (electronic Patient-Reported Outcomes system, ePRO), eArchives (electronic Trial Master File system, eTMF), eSafety (Pharmacovigilance System, PVS), and eCollege (Training Management System, TMS).
Building on this foundation, and in response to the current industry landscape and customers’ practical needs, we have launched IT solutions for clinical research, document management solutions, and pharmacovigilance solutions. These comprehensive services help enterprises enhance the quality and efficiency of clinical research, reduce study costs, and achieve the strategic goal of accelerating new drug approvals.
To date, Taimei has conducted business with nearly 100 leading domestic and international pharmaceutical companies and CROs.