Bellen raises $38 M to sup­port CRO op­er­a­tions

BioSpectrum (Asia) - - Finance News -

Leg­end Cap­i­tal and Zhongjin­qichen, a health­care, tech­nol­ogy and con­sumer-fo­cused pri­vate eq­uity fund un­der China In­ter­na­tional Cap­i­tal Co., Ltd have lead a RMB250 mil­lion ($38 mil­lion) se­ries B round in Bellen, a Chi­nese med­i­cal con­tract re­search or­ga­ni­za­tion (CRO).

Founded in 2016, Bellen fo­cuses on devel­op­ing chem­i­cal syn­the­sis for in­no­va­tive chem­i­cal drugs. The com­pany has es­tab­lished a re­search lab in Bei­jing, a re­search cen­ter in Shang­hai and a man­u­fac­ture based in Shan­dong prov­ince. It also has of­fices in France, Canada and the U.S. China’s CRO in­dus­try has grown rapidly over the last five years. The mar­ket size is ex­pected to reach US$5 bil­lion this year, up from US$2.2 bil­lion in 2012, reg­is­ter­ing a com­pound an­nual growth rate (CAGR) of

17.8 per cent. The global CRO in­dus­try is ex­pected to in­crease in value at a CAGR of 12.4 per cent in com­ing years, grow­ing from $31.8 bil­lion in 2015 to $57 bil­lion in 2020. Asia Pa­cific will be the fastest grow­ing CRO mar­ket with an es­ti­mated CAGR of 19.9 per cent dur­ing the same pe­riod.

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