Mingdu mingles for $14.5m

Jul 26, 2019 • Callum Cyrus

Cash Capital joined a unit of Red Star Macalline to back Mingdu Intelligent, which provides drug manufacturing services mainly related to data management and quality control.

China-based drug manufacturing services provider Mingdu Intelligent collected nearly RMB100m ($14.5m) in a series A round led by Cash Capital, the venture arm of Chinese Academy of Sciences (CAS), yesterday.
The round featured an unspecified investment arm of home furnishing retailer Red Star Macalline and an unnamed venture capital firm from Zhejiang province.
Founded in 2017 and officially called Zhejiang Mingdu Intelligent Control Technologies, the company provides pharmaceutical firms with services spanning R&D, manufacturing, storage and logistics.
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