Taimei Medical Secures Tens of Millions of RMB Investment from Matrix Partners China to Advance Pharma SaaS Solutions

On February 8, 2016, Taimei Medical (Jiaxing Taimei Medical Technology Co., Ltd.) announced, has completed a new round of financing amounting to tens of millions of RMB, with Matrix Partners China as the investor。

Taimei, founded in 2013, isA Leading SaaS Service Provider for the Pharmaceutical Industry in China, with its main products covering clinical research, pharmacovigilance, and other fields. Taimei’s products are developed in accordance with international standards, and the company was the first globally to launch a mobile version, bringing clinical research into the era of mobile internet. Currently, Taimei’s products have been adopted by dozens of leading enterprises both in China and internationally, supporting hundreds of studies across oncology, common diseases, and rare diseases, with more than 100,000 patients enrolled annually.

Taimei CEO Zhao LuIt indicates that the trend of integrating pharmaceutical R&D with mobile internet is unstoppable, and the capability to collect and process pharmaceutical data will form the foundation of future drug development. Data collection and processing systems based on mobile internet play a crucial role in improving drug R&D efficiency and controlling R&D costs, presenting prime development opportunities for system service providers focused on the pharmaceutical industry. This round of investment will be used to strengthen product R&D, enhance big data analytics capabilities in the pharmaceutical sector, and promote the internationalization of the company’s business. Meanwhile, the influence of Matrix Partners China will help Taimei Medical enhance its brand image and increase market attention toward SaaS services in the pharmaceutical industry.

Xiong Fei, Vice President of Investments at Matrix Partners ChinaStatement: The commercial value of medical big data is immense, with drug data tracking and mining representing a core segment of this field. Successful overseas examples such as Medidata demonstrate a market value that can reach $4 billion. Taimei boasts an excellent team composed of professionals from pharmaceutical and internet backgrounds, whose complementary skills and seamless collaboration are rare assets. Its meticulously developed products have performed exceptionally well, gaining recognition and adoption by multiple leading pharmaceutical companies both domestically and internationally. We are confident that Taimei will soon become a well-deserved leader in the medical big data sector, delivering substantial user and commercial value. Matrix Partners China holds high expectations and confidence in this prospect.

Dr. Wen Gang, Partner at CoWin Ventures BeijingTaimei stated that its team is dedicated to leveraging information technologies, such as the internet, to enhance the efficiency of new drug development and improve medication safety—an endeavor of significant commercial and social value that holds great importance for medical advancement and public health. Taimei has already secured a leading position in this field and continues to accelerate its growth; we are confident that Taimei will maintain its industry leadership over the long term. The investment from Matrix Partners China in this round will further drive this progress, and we welcome their participation.

About Taimei：
Taimei is a high-tech startup specializing in SaaS services for the pharmaceutical industry. The company’s products cover clinical research and pharmacovigilance, offering globally leading, publicly listed mobile pharmaceutical data solutions that have been widely adopted by many leading domestic and international pharmaceutical companies and CROs. In 2014, Taimei secured its first round of venture capital funding from Yuanhe Holdings and CoWin Ventures, and was shortlisted for the national finals of the 2015 China Innovation and Entrepreneurship Competition.
About Matrix Partners China：
Matrix Partners China, established in 2008, currently manages four U.S. dollar funds and four RMB funds, with a total asset value of RMB 15 billion. Focusing on early-stage investments, Matrix Partners China has invested in nearly 300 companies, primarily in the internet and mobile internet sectors. Its portfolio of standout companies includes Momo, Cheetah Mobile, Didi Kuaidi, Pocket Shopping (Weidian), Ele.me, Zhaogang.com, and Liepin.com. The firm began its systematic layout in enterprise services three years ago. Currently, companies in this sector with valuations exceeding USD 100 million include Qiniu, Beisen, OneAPM, QingCloud, and Xiaoshouyi.
About CoWin Ventures：
CoWin Ventures is a venture capital fund focused on investing in early-growth-stage technology-driven healthcare and TMT projects. It currently has funds or branch offices in Beijing, Shanghai, Suzhou, Nanjing, Hong Kong, and Shenzhen. Since 2006, the CoWin Ventures team has independently and jointly managed six funds, totaling billions of RMB. Its standout portfolio companies include Tongcheng Network, Qijia Network, Hujiang Network, 3D Medicines, and PegBio.