After $62M funding round, CRO Fountain Medical nabs new leader

China
China-based Fountain Medical got off a hefty series D round back in the fall. (Pixabay)

Contract research organization veteran Ling Zhen, J.D., MBA, has been scooped up as China’s Fountain Medical’s new chief and co-chairman.

Zhen has spent a quarter of a century in life sciences, is a former alum of IQVIA (formerly Quintiles) in China and served stints at Eli Lilly, GlaxoSmithKline and Ernst &Young in the U.S.

He comes to Fountain Medical from being a partner at Draper Dragon Venture Group; as CEO, he will “speed up its global expansion and strategic build-up,” according to the company, which, since its founding in 2017, has been working on services include clinical operations, biostatistics, regulatory affairs, pharmacovigilance, medical affairs and clinical monitoring.

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Dr. Dan Zhang, co-chairman and co-founder of the CRO, said: “His hands-on experience and strategic insight related to the CRO sector makes him the ideal leader to transform Fountain Medical into a China-centered, global full-service leading CRO.”

The company got off a $62 million series D round back in October, with cash coming from the likes of DFJ Dragon Fund and Lilly Asia Ventures.

“I feel very privileged to join Fountain Medical during this exciting time, where drug development and clinical research are undergoing transformational changes across China and rest of the world," added Zhen.

“I look forward to working closely with Fountain Medical's management team and shareholders, and developing a high-caliber team that delivers high-quality services, to help our customers accelerate the development of truly innovative therapies around the world.”

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