Deals signed for 25 biopharma projects

Li Huacheng and Ye Fengting

A FORUM on high-end medical industry innovation and a conference on biopharma development were held on October 16 at the Shanghai MedValley in Jiading District.

During the event, the Jiading Dis-trict Biopharma industry innovation alliance, Ruijin Hospital’s Shanghai institute of Traumatology and Or-thopaedics, and the Shanghai Key Laboratory for prevention and Treat-ment of Bone and Joint Disease with integrated Chinese-Western Medicine were launched.

According to Zheng Hong, director of the Ministry of industry and information Technology’s inter-national Economic and Technological Cooperation Center, China’s medical equipment enterprises above the designated size generated more than 500 billion yuan (uS$69.09 billion) in revenue in 2023, marking 10 consecu-tive years of rapid growth. united imaging and Mindray are among the world’s top 100 medical equipment companies.

Agreements were inked on 25 biopharma industry projects, totaling more than 2 billion yuan in investments. Furthermore, three biopharma-related funds joined forces with Jiading-based businesses to promote the expansion of the local biopharma industry.

according to industry analysts, the biopharma sector requires long research and development cycles and significant expenses, whereas a development model that combines capital and innovation might attract businesses by effectively relieving financial burdens during the early stages of projects.

The district’s biopharma sector achieved a total output of 28.54 billion yuan in 2023, and 20.13 bil-lion yuan from January to august this year, according to an annual development report on Jiading’s bio-pharma industry.

Jiading is now home to 1,500 biopharma enterprises engaged in production, research and services.

Meanwhile, the Jiading Biopharma Shared Laboratory platform was launched on the same day to advance the clustering and collaborative devel-opment of the biopharma industry.

As one of the four key functional platforms in the Shanghai MedValley innovative Medical Device industrial park, it is expected to promote re-source sharing, enhance experimental efficiency and drive the industry’s high-quality development.