MORRISVILLE – Clinical research firm Clinipace, which recently merged with Shanghai-based dMed, has closed on $50 million in new funding from three primary backers.
Now known as dMed-Clinipace, the firm landed investment from Springhill Fund as well as Rock Springs Capital- and Superstring Capital- managed funds.
The deal was announced Wednesday.
“We are delighted to welcome this new group of leading specialist investors, who will bring tremendous resources and strategic insight to accelerate our global growth while also further expanding our investor base,” said Lingshi Tan, chair of d-Med-Clinipace. “We are also grateful to existing investors who have kindly supported in every way to make this Series C+ possible and helped set up a strong foundation for our global progress.”
Funds will be used to cover costs of the merger, which was announced in April. The combined company has more than 1,700 employees in 22 offices from the Americas to Euope, Asia-Pacific and China.
The combined firm operates headquarters in Shanghai and Morrisville.
