Chinese clinical trial and research firm Hangzhou Tigermed consulting is initiating fundraising of at least $1 billion in its Hong Kong listing from 27 July 2020. The decision was made by the board after discussion with prospective investors over the past week. Hangzhou Tigermed Consulting is the largest clinical research provider in mainland China and offers services worldwide.

Hangzhou Tigermed Consulting Co.,Ltd. provides professional clinical research services for domestic and foreign pharmaceutical and health-related research and development. The Company's main services include clinical trial technology services, data management, and statistical analysis. Its technical services include researcher selection, experiment plan designing, test monitoring, the management and collection of clinical test data, as well as the management of drugs applied in experiments, and more. Its research projects cover hepatitis, oncology and cardiovascular fields, among others.

This newly set target of $1 billion from Tigermed will be a notable APAC healthcare transaction of the year 2020. Tigermed’s regulatory filings in Hong Kong show it could sell up to 15% of its shares.

Until now, amidst the COVID-19 pandemic, South Korea’s SK Biopharmaceutical raised near to $791 million around June month to grow as a world’s largest Healthcare IPO.