LAV, GL Ventures & China's Ruihua lead $156m round in CRO firm Tripod

Jiangsu Tripod Preclinical Research Laboratories (Tripod), a Chinese contract research organisation (CRO) in the biopharmaceutical space, has raised nearly 1 billion yuan ($156.2 million) in new funding.

The new round was jointly led by China’s Ruihua Investment Management; biomedical venture capital firm Lilly Asia Ventures (LAV); and GL Ventures, the venture arm of Asia’s private equity major Hillhouse Capital Group, according to a statement on Friday.

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