Redbud Medicine, a Delaware-registered contract research organization (CRO) with roots in China and significant operations in Maryland and Virginia, has raised $10 million in Series A funding co-led by MING Bioventures Capital and Delian Capital. Existing angel round investor Hongfeng Capital also participated.
Led by CEO Amandu Fu, Redbud runs so-called clinical experiment institutions in Washington, D.C., Maryland, Virginia, North Carolina and Chicago, and helps companies navigate clinical trials and regulatory hurdles.
The funding round will lay a “solid foundation for global expansion in the near future,” and enable Redbud to streamline execution of clinical trials from protocol design and creating case report forms, to medical review and the final clinical study report, a spokesman said.
Redbud, founded in early 2019, seeks to fill a gap in the Chinese market for expertise in global clinical CRO. While many Chinese companies seek to expand their horizons, notably in the United States, they lack the skills needed to conduct global clinical studies and meet regulatory requirements. Language also tends to place them at a disadvantage. Similarly, many western companies eyeing China need a variety of resources and support to enter the Chinese market.
The China-born company has built a management team drawn from experienced professionals from global pharmaceutical companies, with significant expertise in clinical research in the United States and China. Redbud offers full-service development from “bench to bedside,” cutting clinical study timelines and cost, while meeting regulatory requirements.
CEO Amanda Fu has over 17 years of extensive global clinical research experience in both Asia and the United States. She has previously worked in some of the biggest pharmaceutical and healthcare companies in the world. They include MedImmune, a unit of AstraZeneca, Pharmacyclics, a unit of AbbVie, INC Research, GE Healthcare, Gleneagles CRC, and Boehringer Ingelheim. Her range of work experience spans global clinical trial development, operations, public health and regulation.
Fu received an M.B.A. from Ohio University and a masters degree in evidence-based medicine from the University of Sheffield.