Tigermed 2021 Interim Results
What We Achieved in First Half 2021
Faced with this unprecedented period of time and an ever-changing world, we are sparing no efforts in first half 2021 to uphold our unwavering commitments to our customers, grow our business and execute our strategies. We expanded our global scale to 39 countries in 5 continents around the world, including Latin America and Africa; we kept investing in cutting-edge technology and capabilities like digital monitoring system and real world study; and we managed through highly complicated and challenging pandemic situations and coordinated seamlessly across continents to provide services with quality and efficiency to support COVID-19 vaccine clinical trials.
As of June 30, 2021
Clinical Trial Solutions
Revenue RMB 1,033.6 M (up 45.4% YoY)
Clinical Trial Solutions (“CTS”) realized revenue of RMB 1,033.6 million in first half 2021, representing a year-over-year growth of 45.4%, primarily attributable to the increased revenue from our clinical trial operation and other services under the CTS segment including medical registration, medical translation, and pharmacovigilance services etc.
Clinical-related and Laboratory Services
Revenue: RMB 1,022.8 M (up 38.0% YoY)
Clinical-related and Laboratory Services (“CRLS”) realized revenue of RMB 1,022.8 million in first half 2021, representing a year-over-year growth of 38.0%, primarily attributable to the increase in demand of our laboratory services, site management and patient recruitment services, and Data Management and Statistical Analysis (“DMSA”) services.
Overseas Business Updates 1H2021
Our overseas business showed strong recovery from the COVID-19 pandemic and revenue generated overseas increased by 56.0% YoY, contributed by the Increasing demand of MRCTs from global customers.
As of June 30, 2021
Ongoing overseas clinical trials
Ongoing Multi-region Clinical Trial (MRCT) covering countries across North America, APAC, Europe and Latin America
Total overseas employees across five continents around the world
New bookings of Multi-region Clinical Trials project (RMB)
As of June 30, 2021, we had 491 ongoing drug clinical research projects, including 351 being conducted in China and 140 being conducted overseas. For the 140 ongoing overseas projects, 111 of which were single region trials in South Korea, Australia and the U.S., and 29 of which were Multi-Region Clinical Trials (MRCTs) being conducted in more than 20 countries across North America, Asia Pacific, Europe, Africa and Latin America with various therapeutic areas including oncology, vaccine, cardiovascular, and rare diseases etc.
Data Management and Statistical Analysis
Ongoing projects increased to 681 as of 30 June 2021. DMSA team reached 790 people as of 30 June 2021. Continued to acquire both domestic and global customers during 1H2021; total number of customers reached 150+ compared with 116 as of 31 December 2020.
Supported the successful approval of a global first in class drug by providing full suite of DMSA services during the pivotal clinical trial and ISS/ISE process with collaborations across teams based in China and US.
Site Selection and Management
Ongoing site management projects increased to 1,329 as of 30 June 2021. Total number of completed site management projects
amounted to 759, full time employees in site management business unit reached over 2,600.
Call center handled a total of over 240,000 calls and over 114,000 follow ups as of 30 June 2021 and started to offer infectious disease assistance services (e.g., Hepatitis B control program)
Acquired Florida based Ocean Ridge Biosciences to expand Frontage’s genomics service capacity and capability in April 2021.
Announced to acquire San Francisco based Quintara Discovery, Inc. in June 2021 to expand Frontage’s capacity and capability in drug discovery space, and increase Frontage’s client base, service capacity and business development presence on the west coast of the US.
Added >6,200 sq.m lab space in Zhangjiang , Shanghai for additional capacity in large molecule bioanalytical.
Medical Device Clinical Research
Completed 47 medical device clinical research projects during 1H2021. Initiated multiple real world studies in Bo’ao Hainan. Launched regulatory consulting services to medical device companies with 30+ projects completed during 1H2021.
Medical device testing lab started to offer biological evaluation services to Class III devices and expanded testing capability into ophthalmology devices.
Completed 32 bioequivalence study projects. 132 ongoing bioequivalence study projects as of June 30, 2021.
Launched in house Risk Based Quality Management (RBQM) system.
In house Clinical Trial Management System (CTMS) reached the milestone of running its 2,000th clinical trial.
Continuing strong customer demands for registration services during 1H2021. Number of new FDA IND projects acquired during 1H2021 more than doubled compared with 2020 full year.
Corporate Highlights 1H2021
As of June 30, 2021