Healthcare Author:Mengyao Zhang Sep 28, 2020 06:14 PM (GMT+8)

Backed up Tencent, GL Ventures and YF Capital, the innovative digitalization platform helps the life science industry leap to the next level.

Digitalization gathers pace in the most tech-demanding area in the pharmaceutical industry. Image credit: Taimei Tech / Zhihui

Taimei Technology, the digitalization platform, announced a recent closure of a deal worth CNY 1.2 billion. The investment was co-led by Tencent, GL Ventures and YF Capital, joined by Morningside Venture Capital, MatrixPartners China, Zheshang Venture Capital, Softbank China, Co-Win Ventures, Ivy Capital, Future Ventures and Fanzhuo Capital.

The startup will continue providing digital upgrading services for the life science industry, promoting the resource integration of innovative drug discovery and research. The company levers artificial intelligence to help pharmaceutical companies in data management, biological statistics, independent imaging evaluation, pharmacovigilance – a comprehensive outsourcing solution.

So far, Taimei Technology has built business partnerships with over 500 pharmaceutical companies, over 200 contract research organizations and third-party services and over 1,600 hospitals and served over 3 million patients. 

"Faced with non-stop changes in biotechnology, centralized procurement and insurance policy, pharmaceutical companies need to efficiently lower the cost in the research and development and optimize the operation strategy," said Mr. Ma Dong, the founder and partner of Taimei Technology.

"Like Meituan-Dianping and, Taimei Tech believes integrated services are the critical point to close the R&D process in the pharmaceutical industry."