US-based China pharmaceutical marketing company Beijing Med-Pharm Corporation yesterday announced that it had raised gross proceeds of US$6.3 million from a private placement of around 4.2 million shares of common stock to a group of institutional and individual accredited investors.

Beijing Med-Pharm expects to use the proceeds from the private placement to further expand its acquisition and licensing strategy business in China, and for additional working capital.

Beijing Med-Pharm Corporation is a US-based pharmaceutical marketing company that offers the following services in China through its wholly-owned subsidiary, Beijing Med-Pharm Market Calculating Co. Ltd.: pre-market entry analysis; clinical trial management; product registration; market research; and pharmaceutical marketing to physicians, hospitals and other healthcare providers.