SHANGHAI, March 17, 2022 /PRNewswire/ — Harvest Integrated Research Organization (“HiRO” or the “Company”) announced the completion of its Series A financing in the amount of tens of millions of US dollars. This investment round is led by OrbiMed, with participation from existing shareholder, Fontus Capital.
Proceeds from this funding round will be primarily used to accelerate the development of HiRO’s overseas market entry, develop its talent pool, expand its digital clinical research management capabilities, and promote multilateral clinical trials in China and the world.
Founded in September 2020, HiRO is an innovative Clinical Research Organization (CRO). Based at Shanghaithe company currently has offices in beijing, taipei, Australia, New Zealandand The Philippines. Led by a management team with over 20 years of industry experience working in the world’s top CROs, HiRO aims to provide innovative and effective clinical development services for local biotechnology companies, bringing their therapies to market. global, and global biotechnology companies, introducing their products into China.
HiRO acquired Pharmaceutical Solutions (“PharmaSols”) in December 2021a CRO with over 20 years of experience in conducting Phase I-IV clinical trials across Australia and New Zealand. With this acquisition, HiRO makes full use of patient resources in Australia and New Zealand to help customers save time, reduce costs and generate quality data.
Spearheading the growth of HiRO is Founder and CEO Dr. Karen Chu, who was previously responsible for Parexel’s global clinical operations. “We are delighted that this round of financing has been backed by world-class healthcare professional investors whose participation will accelerate the development of our global presence by building a strong medical and clinical operations team. We are committed to serving all of our customers who wish to conduct clinical research and development activities in United States and Asia Pacific, as it is essential for biotechnology companies to fully understand the complex global medical requirements and regulatory pathways. The HiRO team will provide personalized assistance every step of the way.”
dr. Karen Chu further states, “2022 will be a year full of opportunities and challenges for the entire industry. Driven by technological advancement, supportive government policy and growing investments in research and development, the global biopharmaceutical market is poised to grow rapidly and steadily. With unique resources and expertise, HiRO can provide efficient, high-quality clinical research services to domestic and global biotech companies.”
As lead investor in this round, OrbiMed’s global partner steven wang says, “We are optimistic about the future development of HiRO as a global CRO platform. HiRO is adept at understanding customer needs and navigating the complex clinical development process with an innovative perspective. With an experienced team with a deep expertise in regulatory affairs and clinical trial operations, HiRO will become a global one-stop service provider from R&D to commercialization.We look forward to their achievements and development with customers.
CEO and founder of Fontus Capital, Danny Xiang said, “We are pleased to be involved in this key development process and funding round, as we strongly believe in the leadership of Dr. At Karen Chu’s Diversified East-West management style. With its highly experienced team and global vision, HiRO will become a leading CRO company in the next 3-5 years.”
Harvest Integrated Research Organization (HiRO) is a Chinaa global clinical research organization (CRO), headquartered in Shanghai, China. With global operations and integration capabilities, the company offers its customers a full range of solutions and services. HiRO strives to become an integrated, market-leading, global CRO that works with biotech and pharmaceutical companies to bring new products from the lab to market, delivering more effective solutions to patients around the world. For more information about HiRO, please visit www.harvestiro.com
OrbiMed is one of the world’s leading healthcare investment firms, with $18 billion of assets under management across a range of private equity funds, private equity funds and private credit/royalty funds. It invests across the entire healthcare sector, from start-ups to large multinationals. The OrbiMed team of more than 100 distinguished professionals in science, medicine, investment and more is based in key markets around the world.
For more information about OrbiMed, please visit www.orbimed.com
About F.have Capital city
Fontus Capital was established in 2015. We focus on life sciences, specializing in pharmaceuticals, biotechnology, medical devices and services worldwide. Our mission is to improve the lives of patients and provide innovative solutions to address unmet medical needs.
For more information about Fontus Capital, please visit www.fontus.com.cn
PharmaSols, founded in 2000, is a clinical research organization (CRO) that provides clinical trial management and regulatory services to biotechnology and pharmaceutical companies in Australia and New Zealand. PharmaSols provides quality clinical trials on time in collaboration with research organizations and sponsors. PharmaSols is recognized as one of the top clinical trial CROs in the region, providing cost effective and innovative solutions in study design and planning, feasibility, site selection, regulation and legal requirements , patient recruitment and study completion. Over the past 20 years, PharmaSols has built strong and trusted relationships with partners, customers, key opinion leaders, clinical trial site personnel and researchers across the region; these relationships enable PharmaSols to provide exceptional customer service.
For more information about PharmaSols, please visit https://pharmasols.com
SOURCE Harvest Integrated Research Organization