CXO Provider Shuyao closes initial funding worth tens of millions of CNY

Shuyao Technology (Chinese: 数垚科技), a provider of an integrated platform for institutional digital clinical trials, announced the completion of its initial round of financing of tens of millions of CNY. This round of funding was led by GSR Ventures (Chinese: 金沙江创投), followed by ZhenFund (Chinese:真格基金), and Sequoia China(Chinese:红杉中国). The proceeds will be mainly used for the iterative development, market promotion, and talent recruitment of the ICT@Site institution's digital clinical trial integration platform.

Using advanced micro-services, cloud-native, big data, AI, and other digital technologies, Shuyao empowers medical institutions to achieve the goal of one-stop digital clinical trials, and provide sponsors with a high-quality, low-cost, and efficient value service platform.

In the context of the pandemic, hospitals are facing the dual pressure of discipline development and revenue decline. Digital and intelligent technologies empower hospitals to undertake more clinical trial projects and enhance clinical research capabilities and thus increasing revenues in the long term.

Based on the changes in hospitals’ demand, Shuyao Technology has built a hospital-centered institutional digital clinical trial integration platform ICT@Site, which connects all parties in the drug clinical trial value chain. On the one hand, it enables hospitals to realize economic value, on the other hand, it facilitates pharmaceutical companies to improve the efficiency and quality of clinical trials and reduce drug research and development costs.

He Guoping, the founder of Shuyao Technology, claimed that Shuyao was committed to tackling the pain points of supply and demand in the changing environment of clinical trials and strived to accelerate the launch of new drugs.

Shuyao Technology’s main competitors include Taimei Tech (Chinese: 太美医疗), Yidou Cloud (Chinese: 医渡云HLT), Duxact (Chinese: 都正生物), GX CRO (Chinese: 国信医药) and Precision Scientifics (Chinese: 普瑞基准).