Week In Review: Taimei Raises $212 Million For AI Life Science Support Software

Deals and Financings

Taimei Technology, a Shanghai-Jiaxing SAAS company, completed a $212 million Series E/E+ round to advance its cloud AI-based suite of clinical trial programs (see story). The company says its platform enables clinical research collaboration between sponsors, sites, CROs, patients, regulatory agencies and third-party providers. Founded in 2013, Taimei already offers six technology-enabled programs: data management, project management, electronic regulatory submission, central medical imaging, pharmacovigilance and drug logistics. It plans to expand into other areas of life science R&D.

Ansun Biopharma of San Diego closed an $80 million Series B funding from China investors to advance its innovative antiviral (see story). The company's lead product is a first-in-class recombinant sialidase protein that removes sialic acid from the surface of airway epithelial cells, preventing the virus from entering the host. In the US, the FDA has granted the candidate Fast Track Eligibility and Breakthrough Therapy to treat lower respiratory tract infections caused by parainfluenza virus (PIV) in immunodeficient patients. It is also thought to be effective against resistant flu strains.

dMed Biopharma, a Shanghai CRO that offers clinical trial services in China, the US and the EU, completed a Series B financing of nearly $50 million, led by Vivo Capital and joined by Legend Capital, Qiming Venture Partners and Lilly Asia Ventures (see story). Launched three years ago, dMed considers itself a "next-gen" clinical CRO with efficient operations, IT services and expertise in cross-border global trials. The company has 600 employees. Recently, dMed acquired Target Health, a full service New York-based CRO, to expand its global offerings and add new technologies.

Shaanxi Micot Technology raised $16 million in a Pre-A financing to develop its portfolio of novel multi-targeted polypeptide drug candidates (see story). Founded in 2007, Micot is located in Xi'an. The company says its bispecific polypeptides are activated simultaneously through separate signals to maximize bioactivity and minimize side effects. It is developing 16 candidates in cardiovascular, pain, calcium/phosphorus metabolism and diabetes indications. The round was led by Northern Light Venture Capital, with participation from Tasly Capital, Detong Capital and Shanxi Investment.

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