Shanghai set to offer integrated support for biomedicine sector

Credit: Ti Gong

Shanghai is poised to offer integrated support for the biomedicine sector through incubation as well as financial consultation services for the pillar industry.

A biomedicine platform service alliance has taken shape and the city is maintaining its leading position in terms of the number of newly approved innovative medicines and medical devices.

Last year, the total biopharma industry size in Shanghai reached 933.7 billion yuan (US$128 billion) and total industrial output value climbed steadily to 186 billion yuan.

Ren Dawei, deputy director of the Shanghai Center of Biomedicine Development, said the agency, backed by the Shanghai Science Commission, is actively responding to the latest market trends and demands from various enterprises and research institutions.

"Shanghai is also pioneering in the field of gene and cell therapy with latest action plans targeting synthetic biology, gene therapy and medical robots announced last year," he said.

By 2025, the city aims to have a biopharma manufacturing industry valued at 240 billion yuan (US$35 billion), with the total industry size exceeding 1 trillion yuan.

A wide range of services is now available for startups at the site in the Zhangjiang area of ​​the Pudong New Area, such as cellular drug R&D and preparation, large molecule drug pilot testing, innovative drug formulation, clinical sample preparation.

An investment and financing alliance was also launched earlier this year to help startups connect with investors.

Over 200 roadshows have been staged at the center for local startups to help facilitate the transformation of clinical research projects into commercial products and services.