On September 15, 2015, Crystal Pharmatech Co., Ltd. Announced the completion of raising $10 million in Series A funding led by Renner Lian he Holdings. Crystal Pharmatech will use the funds to further accelerate the growth of the company.
Founded in July 2010, Crystal Pharmatech is a global，technology-driven research organization with operations in both China (Suzhou) and USA (New Jersey) to help pharmaceutical companies develop new drugs efficiently and effectively. It focuses on materials science and engineering for drug development and offers pharmaceutical formulation development services from solid form screening and evaluation to processing for active pharmaceutical ingredients and formulations. With its leading platform in solid form research, it has successfully built business relationships with over 150 pharmaceutical companies globally and become the preferred partner in its field of services. With the raised capital, Crystal Pharmatech will continue to focus on solid-state chemistry and increase investment in technology, talent and operation, aim for being the best solid state research partner for global pharmaceutical companies.
"Our strategic investment in Crystal was primarily inspired by the big growth potential in pharmaceutical industry and Crystal's unique capability and proven track record in the pharma arena", states Joe Chen, founder and CEO of Renren. "We are very pleased to welcome Renren to join our exciting adventure, and believe their experience in international operation and culture of speed and innovation will add great value to our team", said Alex Chen, co-founder and CEO of Crystal Pharmatech. Both believe that the investment and the synergy between the organizations in valuing creativity, innovation and blue-sky-thinking will add new impetus to Crystal Pharmatech, help Crystal in growth hacking, and bring the company into a new stage.