Shanghai Minxing Biopharmaceutical Industry Advancing High-Quality Development: 10 Projects Signed and Set to File IPO Prospectus

　　【Pharmaceutical Network Pharmaceutical Engineering】Recent reports indicate that at the "2021 Shanghai (Minhang) Biomedical Industry Innovation Summit," 10 major biomedical projects with a total investment exceeding 2 billion RMB were officially settled in the district. Participating entities in this signing ceremony included Illumina, Anruimaibo Biotechnology (Shanghai) Co., Ltd., BeiKeShe, Maiana (Shanghai) Instrument Technology Co., Ltd., the Shenzhen Institute of Advanced Technology, BGI, Jiangsu Tongkai, Shanghai GuangYue Biotechnology Co., Ltd., YolTech Therapeutics, and Shanghai Zhixun Biotechnology Co., Ltd. The settlement of these projects will inject new momentum into Minhang's biomedical industry.
 

It is reported that the 10 projects signed on this occasion cover fields such as innovative drugs, gene editing, and diagnostic equipment. For example, the "YolTech Therapeutics Project" plans to establish a gene editing and mRNA drug R&D and manufacturing platform in Wujing Town. The company is a high-tech biotechnology enterprise specializing in combining mRNA in vivo delivery technology with gene editing technology to develop next-generation mRNA drugs, gene-editing therapeutics, and mRNA vaccines.
 

For another example, BGI, which has consistently upheld the mission of "genomic technology for the benefit of humanity" and led the innovative development of genomics through an integrated "industry-academia-research" model, now plans to establish a digital life and health industrial park featuring the same "industry-academia-research" integration. This also marks another significant milestone for BGI in the big health industry.
 

The biopharmaceutical industry is a strategic emerging sector in China. In recent years, China's biopharmaceutical industry has experienced robust growth with tremendous potential. Seizing this opportunity, Minhang District has vigorously advanced the biopharmaceutical sector. Through targeted initiatives in attracting major projects, it has successively introduced a large number of leading innovative enterprises in the biopharmaceutical field, including Innovent Biologics, WEGO, Yunnan Baiyao, Chia Tai Tianqing, and Neusoft Medical, thereby driving the high-quality development of Minhang's regional economy.
 

Also released at the conference was the 《Several Opinions of Minhang District on Promoting the High-Quality Development of the Biopharmaceutical Industry》, which supports R&D innovation, drives industrial development, and enhances platform support, bringing a "rain of policy incentives" to a number of eligible pharmaceutical enterprises.
 

For example, in the field of innovative product R&D, enterprises are encouraged to apply for the Biomedical Science and Technology Support Special Program under the Municipal Science and Technology Innovation Action Plan, with the objective of completing Phase I and Phase II clinical trials. Matching fund support equivalent to 10% of the funding amount granted by municipal departments will be provided, capped at a maximum of RMB 1 million. A Special Program for Major Industrial Technology Breakthroughs involving Industry, Academia, Research, and Medicine will be established. For key research projects led by enterprises in collaboration with hospitals and research institutes, funding of up to RMB 1 million will be awarded upon successful evaluation.
 

Meanwhile, for innovative drugs that have completed clinical trials and obtained the 《Drug Registration Approval Certificate》 and are produced and sold within this district, applications for municipal-level funding are encouraged and supported, with a matching fund support equivalent to 10% of the municipal subsidy amount, capped at RMB 3 million, to be provided; for those produced and sold in this district that have not been approved for municipal-level project support, a one-time R&D expense subsidy of RMB 4 million per drug product will be granted.
 

Additionally, for innovative drugs and medical devices developed and produced in this city that have obtained international certification and registration and achieved sales in relevant overseas markets, matching support equivalent to 20% of the municipal subsidy amount will be provided, capped at 2 million RMB per product.
 

According to the development plan for the biopharmaceutical industry in Minhang District: to establish an innovation and demonstration hub for the biopharmaceutical sector that radiates across the Yangtze River Delta, serves the entire country, and connects globally. By 2023, it aims to achieve an annual gross industrial output value of RMB 35 billion in biopharmaceutical manufacturing, an operating revenue exceeding RMB 55 billion for the biopharmaceutical industry, and foster 6 to 8 listed companies.