Pharmaron, a Beijing, China-based contract research organization (CRO), received an over US$280m investment.
The consortium was led by CITIC M&A Fund and Legend Capital.
The company intends to use the funds to further strengthen its core R&D service platforms to expand its existing R&D capabilities and capacity and to adopt new technology to better serve its partners and customers in advancing their drug R&D programs as well as to allow some shareholders to realize significant gains on their earlier investments.
Founded in 2003 and led by Boliang Lou, PhD, Chairman and Chief Executive Officer, Pharmaron is a private R&D service provider for the life science industry. Its drug R&D service capabilities range from synthetic and medicinal chemistry, biology, DMPK, pharmacology and toxicology to chemical & pharmaceutical development.
The company has over 3,000 employees, operations in China and the U.S., and delivers R&D solutions to North America, Europe, Japan and China.