Virgo Investment Group LLC announced portfolio company Clinipace Inc., a full-service clinical research organization headquartered in Raleigh, North Carolina, has merged with Dmed Global, a full-service CRO based in Shanghai, China. The merger will create a global mid-size CRO that will work with biotech, pharma, and medical device companies. Together, Clinipace and Dmed will offer advanced technologies, expertise in multiple therapeutic areas, and a footprint that will drive continued excellence for their collective customers.
Current dMed Chairman and CEO, Lingshi Tan, will lead the new company as global CEO, with current Clinipace CEO, Jason Monteleone, assuming a new role as chief business and strategy officer.
Jesse Watson, Virgo founder and CIO, said, “We are proud of the business transformation we achieved at Clinipace, in partnership with new management and the Board. We were able to evolve the team, the culture, the business processes in both sales and clinical trial delivery, and the technology backbone of the company. Clinipace brings a high growth business in the US, Europe and Asia Pacific to Dmed. We believe the combined enterprise offers a unique capability to biotech and pharma customers focused on executing their trials and accessing multiple, global markets for their products.”
Monteleone, added, “Virgo was an excellent strategic partner throughout 2020 as Clinipace navigated the challenging aspects of COVID and in 2021 leading the merger with Dmed. It has been a great journey both professionally and personally in transforming Clinipace together over the last 3.5 years and we are excited about the momentum of the merged enterprise.”