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Tigermed and Qiming Venture Grant Asset Injection to MacroStat

HANGZHOU, China, March 3 /PRNewswire-Asia/ --

Tigermed Consulting Co., Ltd, a leading Contract Research Organization (CRO) in China, and Qiming Venture, a premier venture capital firm based in Shanghai join hands to grant asset injection to MacroStat, the unique CRO in China specialized in clinical data management and statistical analysis. The union between the two top CROs will significantly improve Tigermed's clinical data management serviceability and broaden MacroStat's business line.

''MacroStat has the leading talents and system in biostatistics, with absolute competitive advantage in China. Tigermed and MacroStat shall establish extensive strategic partnership in the management of clinical trials, data management and statistical analysis. Tigermed accumulated outstanding expertise in clinical trials, while MacroStat is an expert in biostatistics. Our cooperation shall expand Tigermed's business line and add professionalism to Tigermed's biostatistics services. The win-win cooperation between leading CROs with complementary advantages is conducive to constructing a higher level of CRO service chain and further updating full service capability, which also opens a fast track to the globalization of China CROs,'' comments Dr. Ye Xiaoping, CEO and founder of Tigermed.

Ms. Cao Xiaochun, Vice President of Tigermed, added, ''Tigermed pays close attention to MacroStat advantage in data management and statistical analysis. Besides Ms. Cao Xiaochun, Dr. Ye Xiaoping (CEO and founder of Tigermed) and Hu Xubo (Director of Healthcare Investment Sector of Qiming Venture) will also join in MacroStat's board of directors. The cooperation between Tigermed and MacroStat will not only satisfy global clients with international standards but also power the innovative drug development in China, making it possible to streamline clinical research cycle and considerably reduce drug R & D costs.''

''MacroStat has set up strategic partnerships with many multinational pharmaceutical and biotech companies and international CROs, and has become their preferential biostatistics vendor. MacroStat's customers are mainly from USA and Europe. With the new capital, MacroStat will further accelerate its development effectively, on one hand, keeping the unique advantage in biostatistics, one the other hand, extending business line into clinical trials, so as to provide more extensive and comprehensive services for the pharmaceutical industries.'' Comments Helen Yin, managing director of MacroStat China.

About MacroStat

MacroStat, an international CRO, founded in 2002 in USA, is one of the few professional CROs dedicated to providing clinical data management and statistical analysis services. MacroStat is specialized in providing data and safety monitoring board (DSMB) support for USA FDA, and statistical support to FDA, CVM, EPA, MAA, MCA and other agencies and Asian countries. MacroStat (China) was established in 2005 in Shanghai, and now becomes the unique CRO focused on biostatistics in China

About Tigermed

Tigermed Consulting Co., Ltd, a leading Contract Research Organization (CRO) in China, is expected to become the largest CRO in China within 3 years. With capital injection from Qiming Venture in 2008, Tigermed has entered into a period of rapid expansion. The combined asset injection to MacroStat marks a stride forward in Tigermed's internationalization strategic development. The extensive cooperation between Tigermed and MacroStat allows both to make a big step forward.

    For more information, please contact:

     Zeng Haiyan
     Associate Manager, Administration & HR Dept.
     Tel:   +86-571-8998-6792

SOURCE Tigermed Consulting Co., Ltd
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