The Global Clinical CRO Fountain Medical Development and its Affiliates Rebrand as ClinChoice Inc

BEIJING and SHANGHAI,Sept. 10,2020 -- Fountain Medical Development (FMD K&L),togetherwith its affiliates,is rebranding as ClinChoice Inc ("ClinChoice" or "Company"). ClinChoice is a global clinical stage Contract Research Organization ("CRO"),with over 1800 clinical research professionals in seven different countries across North America,Asia and Europe.Under its new brand,ClinChoice will continue to offer high quality,full-service clinical development solutions to pharmaceutical,biotechnology,medical device,consumer and personal care product companies globally.

With the Company's history dating back to 1995,ClinChoice has developed deep clinical research expertise and regulatory know-how through the years,and built up meaningful presence across US,China,Europe,India,Japan andthe Philippines. The Company conducted a series of value enhancing mergers and restructurings,and successfully integrated Fountain Medical Development,K&L Consulting and iMedGlobal into a global platform. Going forward,ClinChoice will continue to support life sciences innovation,and deliver high quality CRO services to its global clientele across development,registration and commercialization phases. The Company will also actively engage with established and growth stage players and leverage its full-function clinical research team to support clients' local and global aspirations.

"We have seen a dramatic increase in demand from life sciences clients around the world for high quality services with accelerated timeline. Under the brand ClinChoice,we will fully integrate our team around the globe and leverage our combined capabilities across functions and geographies to meet the needs of our clients around the world," said Mr. Ling Zhen,Global Chairman and CEO of ClinChoice.

"This re-branding campaign,together with internal improvement initiatives,will allow us to strengthen our core competencies and provide clinical solutions consistent with ICH standards," said Dr. Dan Zhang,who is a co-founder of the Company and will serve as the Chief Strategic Officer of ClinChoice going forward. Dr. Xin Ke,Chairman of FMD K&L,Dr. John D. Balian,CEO of FMD K&L,and their respective management teams will continue in their current capacities,under the new ClinChoice name,and provide ongoing support to the Company's clients and sponsors.

"As the number of innovative therapies grow around the world,the ability of CROs to provide efficient and reliable R&D services has become ever more important. ClinChoice offers a unique proposition centered around access,knowhow and speed. With the strong leadership and execution capability at ClinChoice,we look forward to a new chapter of growth for the Company," said Mr. Kevin Xu,a Managing Director in Goldman Sachs' Merchant Banking Division and member of the Board at ClinChoice.

About ClinChoice

ClinChoice is a clinical stage CRO dedicated to offering high-quality one-stop service to biopharmaceutical,and consumer products clients. Some of these services include clinical operations,project management,biostatistics,data management,regulatory affairs,medical affairs,and pharmacovigilance. ClinChoice has established major delivery centers acrossUS,Japanand thePhilippines. It has over 1,800 employees globally,with a strong and talented team,and a growing clinical operations presence in seven countries across Asia,North America and Europe.

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