Qiming leads Series A for China medical research, translation provider
Qiming Venture Partners has led a Series A round of funding for MedSci, a Chinese clinical research and academic translation services online platform.
The size of the round amounts to tens of millions of dollars.
Founded in 2008, MedSci provides medical research, as well as clinical and academic translation services to pharmaceutical, biotech and medical device operators. It serves more than 1.5 million clients, including 500,000 doctors. The company cooperates with its sister entity - Bioon Group, a biotech consulting firm established in 2001 - to provide a wide range services for the medical industry.
The new capital will be used to develop MedSci's mobile technology and cloud-computing to improve its product offerings.
William Hu, a healthcare partner with Qiming, said in a statement that the VC firm has followed MedSci and Bioon for a long time. "MedSci has established a high influence and good reputation in the field of clinical research and biotech technology development," he said.
In March last year, Qiming raised approximately $500 million for its fourth US dollar-denominated China venture capital fund.
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