Pharmaron Holding Limited, a Beijing, China, and Irvine, CA, USA-based provider of R&D services to small and large pharmaceutical and biotech companies from around the world, has closed an over $40m Series C financing round.
Investors include existing shareholders DCM, Legend Capital and new backer GL Capital Group.
The company intends to use the new capital to strengthen and expand its drug discovery services offerings, preclinical GLP toxicology capabilities and GMP chemical synthesis services.
Founded in 2003 and led by Chairman and CEO Dr. Boliang Lou, Pharmaron provides R&D services including discovery chemistry, biology, DMPK, in vivo pharmacology, GLP bioanalytical services, GLP toxicology and pharmaceutical development and manufacturing.
The company, which currently has more than 1,200 employees and operations in China and the U.S., serves pharmaceutical companies in North America, Europe and Japan.