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25 Feb 2011

Chinese CRO Closed $40M Financing

Pharmaron announced it has rounded up $40 million in venture capital to bolster its expertise in drug discovery, preclinical GLP toxicology capabilities and GMP chemical synthesis services.

Pharmaron, a R&D service provider for the pharmaceutical and biotech industries,  has rounded up $40 million in venture capital. The CRO says it will use the cash to bolster its expertise in drug discovery, preclinical GLP toxicology capabilities and GMP chemical synthesis services. And it's hoping to ride the crest of two waves: A push among pharma companies to outsource more clinical development work and a shift in the R&D industry toward China.

 

"Recently, the pharmaceutical and biotech industry has undergone fundamental changes as it has responded to increased productivity d

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