Corporates drive dMed’s $100m series C

Dec 18, 2020 • Jordan Williams

Kaiser Foundation Hospitals and Lilly Asia Ventures backed a round for the pharmaceutical research services provider that was led by Fidelity.

China-based clinical contract research organisation (CRO) dMed closed a $100m series C round yesterday featuring Kaiser Foundation Hospitals and Lilly Asia Ventures, vehicles for healthcare consortium Kaiser Permanente and pharmaceutical firm Eli Lilly.

Investment and financial services group Fidelity led the round and was joined by venture capital firms Qiming Venture Partners and Sequoia Capital China, healthcare investment firm Vivo Capital and asset manager E Fund Management.

Founded in 2016, dMed provides CRO services for companies in the pharmaceutical and…

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