The combined Company will provide full-service CRO services to meet needs of global fast-moving biotech, pharma and medical device companies, and to accelerate the delivery of innovative solutions to patients worldwide.
SHANGHAI and MORRISVILLE, N.C – April 28, 2021 – dMed Global, a full-service Clinical Contract Research Organization (CRO) based in Shanghai, China, and Clinipace Incorporated, a full-service Clinical CRO with headquarters in North Carolina, USA, announced today that the two companies will merge. This merger will meet the needs of fast-moving biotech, pharma and medical device companies, and accelerate the delivery of innovative solutions to patients worldwide.
The combined company will have over 1,600 employees across 22 countries and a strong position as a highly differentiated mid-sized CRO that rivals the leading global CROs in geographic scope, services and therapeutic expertise. The new company’s capabilities in North America, Asia Pacific, Europe, and Latin America compete head-to-head with top-tier services from the leading CROs.
Current dMed Chairman and CEO Dr. Lingshi Tan will lead the new company as global CEO, with current Clinipace CEO Mr. Jason Monteleone assuming a new role as Chief Business & Strategy Officer.
Dr. Tan summarized the opportunity, saying, “Western biotech companies increasingly recognize their need for a strategic partner who can stay on the leading edge of fundamental changes in the global clinical landscape. China is already a key market, a leading site for accelerating drug development and launch and the home to a rapidly growing number of innovative biotechs that are expanding globally. We will now be positioned to better serve the global needs of both Western and Chinese companies.”
Mr. Monteleone added, “We look forward to helping innovative biotechs, as well as small-, mid-, and even large-cap pharma and device companies, gain faster and better access to the world’s largest drug and device markets, the US and China. Together, dMed and Clinipace offer advanced technologies, expertise in multiple therapeutic areas, and a global footprint that drive continued excellence for our customers. Our new organization will maintain the personalized commitment to delivering customized innovative solutions to customer that have been hallmarks of each company’s past success.”
dMed was founded in 2016 by Dr. Lingshi Tan, a former Pfizer executive and the first General Manager of Pfizer’s China R&D Center. dMed is a full service CRO that provides a deep-bench of regulatory and clinical development service expertise. Since dMed’s founding, the company has served clients helping firms leverage and integrate into China’s new regulatory framework and capitalize on the rapid internationalization of clinical trials. dMed acquired U.S. based Target Health in 2019, as its first step in expanding globally.
Clinipace has almost 25 years of broad clinical experience, extensive regulatory expertise and core therapeutic specialties in oncology, nephrology, rare disease, gastroenterology, and women’s health. The company has an outstanding track record of multinational success and a reputation for strategic client partnerships.
Fairmount Partners, a leading investment bank in the Pharmaceutical Services sector, served as financial advisor to Clinipace.
Founded in 2016, dMed is a full-service Clinical Contract Research Organization (CRO), and has grown to nearly 700 professional staff covering more than 31 cities in China and three U.S. offices. In an era of unparalleled pharmaceutical innovation, dMed aspires to be a next-generation clinical development partner, empowering customers to deliver innovative solutions to patients worldwide, especially in the two largest healthcare markets, the U.S. and China. dMed’s U.S. presence includes Target Health, a full service technology driven CRO with expertise in digital capabilities and regulatory affairs.
Clinipace is a global, full-service Clinical Contract Research Organization (CRO), with a personal approach to clinical research. Clinipace delivers a level of collaboration and flexibility not possible in a traditional CRO environment, with an emphasis on personalized services and solutions, regulatory expertise, and therapeutic leadership. Its mission is to improve the way clinical research is performed in major therapeutic areas including oncology, rare disease, gastroenterology, nephrology, and women’s health.
About Fairmount Partners
Fairmount Partners (www.fairmountpartners.com) is an independent merger and acquisition advisory firm focused on emerging growth and middle-market companies. Fairmount helps its clients complete mergers and acquisitions; raise funds for growth, acquisitions and liquidity; and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 245 transactions, representing over $12 billion in aggregate value, in 21 countries throughout North and South America, Europe, Asia and Australia. For further information, please contact Neal McCarthy at email@example.com.