Redbud Raises $10M in Series A Round as CRO Focusing on Science-driven Clinical Development
Redbud Medicine, the Delaware-headquartered contract research organization (CRO) announced on Monday following the completion of a series A round fundraising in which MING Bioventures Capital, Delian Capital and the existing Angel round investor Hongfeng Capital all participated. Legend Star led the Series pre-A round fundraising about less than a year ago.
Redbud Medicine is a next-generation clinical CRO focusing on science-based clinical development services. The company offers full-service development from bench to bedside with the goal of reducing traditional clinical study timelines, improving overall quality and value-driven, cost containment. Redbud’s global team of experts has extensive experience in a broad range of therapeutic areas and global clinical development. They work with sponsors to provide several bespoke options including digital solutions and training for companies new to the drug development space.
In recent years the investment to biotech industry in China has reached to a new record which is around four times higher than the investment in US and Europe. The active investment has boosted the industry growth rapidly and many biotech companies from China are seeking for novel drug registration at FDA and EMA.
A spokesperson for the company offered some more details in an interview, “The new financing enables Redbud to streamline execution of clinical trials from protocol design, CRF creation, and ongoing medical review through the final CSR. Using a streamline digital platform to reduce redundant tasks and improve quality of regulatory documents, data cleaning activity, real-time data review and CSR drafting, the company obtained sufficient funds to support the planned growth and lay a solid foundation for global expansion in the near future,” he said.
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