MedTech World Summit 2022 Unveils 'X Era' Theme: Convergence of Biotech, Digital Tech, and Smart Manufacturing Drives Healthcare Innovation
As 2022 gradually draws to a close, looking back at the rapid development of emerging technologies in recent years, it has injected continuous vitality into medical innovation. Scientific research experts, investors, and entrepreneurs have been constantly exploring new boundaries of technology and market from their respective fields, seeking the lighthouse of life sciences. We have compiled the current status of the three most concerned hard-core technology developments, hoping to glimpse the path of future medical integration and innovation.
Examining the landscape of medical technology development, pharmaceuticals and biotechnology have remained the focal points of domestic innovation over the past year. The rapid advancement and breakthroughs in biotechnology are fostering new momentum for the future of human life sciences. Frontier research areas such as cell and gene therapy, synthetic biology, and organ-on-a-chip technologies continue to achieve significant breakthroughs.
On March 1, 2022, Legend Biotech’s cell therapy product ciltacabtagene autoleucel received approval from the U.S. FDA for marketing, marking a significant milestone in the development of cell and gene therapies in China. During the same period in the first half of the year, gene therapy products from Longxin Biologics, Hongji Biologics, Jiayin Biologics, and Bendon Genes sequentially obtained Investigational New Drug (IND) approvals, ensuring that attention to the gene therapy sector will remain strong.
In August 2021, China’s first generic sitagliptin drug manufactured using biosynthetic technology was approved, marking a milestone event in China’s formal acceptance of pharmaceutical products produced through synthetic biology methods.
In August 2022, the FDA approved the first new drug globally to enter clinical trials based on preclinical data derived from “organ-on-a-chip” studies. On September 29, the U.S. Senate passed the FDA Modernization Act, which aims to reduce the use of animals in preclinical testing by replacing them with more modern scientific approaches, such as organ-on-a-chip technology.
Pharmaceutical and Biotechnological Innovations Scale New Heights as the Life Sciences Revolution of the New Era ArrivesFrom a policy perspective, in May 2022, the National Development and Reform Commission (NDRC) released the "14th Five-Year Plan for Bioeconomy Development," proposing that during the 14th Five-Year Plan period, China should promote the integration of biotechnology and information technology, accelerate the development of industries such as biopharmaceuticals, biomaterials, and bioenergy, and vigorously develop the bioeconomy. This further solidifies the strategic position of the bioeconomy at the intersection of diverse technologies. From the capital market perspective, according to data from VCBeat, there were a total of 253 transactions in the global biopharmaceutical sector in Q3 2022, amounting to USD 7.145 billion (approximately RMB 51.145 billion). Among these, 19 companies went public via initial public offerings (IPOs), demonstrating undiminished enthusiasm for joining this wave of innovation.
In recent years, with the increasingly integrated development of information technology and biotechnology, the application of new technologies in the field of small-molecule drug research has gradually matured, such as PROTACs and molecular glues.
Breakthroughs in algorithms have also provided robust technical support for AI-driven drug discovery. The expansion of algorithms in this field from machine learning to deep learning has spurred rapid development across the entire sector. In December 2021, Insilico Medicine announced the discovery of two preclinical candidate compounds targeting PHD2—ISM012-077 and ISM012-042—within 12 months, intended for the treatment of renal anemia and inflammatory bowel disease, respectively.
The rapid development of AI-driven new drug enterprises in recent years has also been inseparable from policy drivers. In terms of industrial planning, the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) released the “Guiding Principles for Clinical Development of Antineoplastic Drugs with a Focus on Clinical Value” in July 2021, which further clarified and raised the requirements for the positioning of innovative drug development in China. Meanwhile, the state has introduced a series of plans related to the AI industry to encourage the development of artificial intelligence technologies, thereby further promoting the translation of AI technological innovations into practical applications. The introduction of these core policies has become a key driving force behind the transformation of the AI-enabled new drug industry.
Amid favorable policies and continuous technological advancements, the capital market remains robust.
According to incomplete statistics from VCBeat, there were a total of 34 financing events in China’s AI drug discovery sector in 2021. Among these, three events did not disclose the financing round, and four did not disclose the amount raised. The total funding amount involved in these 34 financing events reached RMB 8.345 billion, with an average of RMB 245.45 million per transaction. Currently, only Insilico Medicine (Series C) and XtalPi (Series D) have entered late-stage financing rounds in China’s AI drug discovery sector. No AI drug discovery company has yet gone public, but an IPO appears to be on the horizon.
In December 2021, the Ministry of Industry and Information Technology (MIIT) and seven other ministries jointly issued the “14th Five-Year Plan for Intelligent Manufacturing Development.” The plan proposes that during the 14th Five-Year Plan period and for a considerable time thereafter, advancing intelligent manufacturing should be grounded in the essence of manufacturing, closely aligned with intelligent characteristics, accelerate systemic innovation, and enhance new momentum for integrated development.
The new wave of technological revolution and industrial transformation is in full swing. The development of cross-disciplinary technologies, such as brain-computer interfaces, neural chips, and bionic robots, is steadily advancing toward commercial application. Disruptive innovations in domestically produced high-value consumable materials are emerging continuously, while the integration of new technologies—including artificial intelligence, 5G, big data, and cloud computing—is facilitating the practical deployment of medical robots. From production materials to business models and application scenarios, “intelligent” manufacturing capabilities are advancing by leaps and bounds.
According to data from Artery Orange, the global high-value consumables sector saw 38 financing rounds totaling approximately $377 million in Q1 2022. Among these, there were nine financing events in the brain-computer interface (BCI) field during the first half of 2022. Financing in the medical AI market was concentrated in new drug development, while AI imaging companies had already gone public one after another last year. Overall, however, the medical AI market remains relatively concentrated, and frontier technologies such as BCI are still in their early stages in the Chinese market, offering significant room for growth.
In an era of increasingly frequent cross-disciplinary technological development, artificial intelligence and automation have become the underlying “digital infrastructure.” Their integration with technologies across various fields has driven a growing number of innovative breakthroughs, and the healthcare sector is no exception. Whether in biotechnology, digital information technology, or new materials and intelligent manufacturing, the most significant commonality lies in the deep integration of these rapidly advancing disciplines with medical innovation. Cross-boundary collaboration and integrated innovation have become the major direction for the current development of the healthcare industry. A large influx of interdisciplinary talent into the booming healthcare sector is rapidly ushering in the “X” era of medical technology.
Based on this, the 2022 World Summit on Medical Technology with the theme “X” as the theme, leading a new wave of innovation in the life sciences revolution, showcasing the allure of interdisciplinary integration, exploring the translation of scientific research achievements, and boosting technology-enabled medical innovation.
“X” aligns with two layers of meaning: first,Cross-Integration; In written form, “X” signifies intersection, extending to cross-disciplinary integration—namely, the convergent development of healthcare with AI, quantum computing, new materials, biochemistry, and other disciplines and technologies, as well as the integrated translation of achievements from industry, academia, and research. The technological revolution injects continuous vitality into the healthcare industry, and the practical application of scientific research outcomes relies on the integration and joint participation of diverse resources across the innovation chain. By leveraging the expertise of professionals from various sectors—including industry, academia, research, and investment—we explore innovative transformations in the process of translating scientific research into practical applications.
Second,Industrial Innovation; In mathematical terms, x is an unknown variable, symbolizing future transformation and innovation in industry—namely, the industrial changes driven by advancements in frontier technologies. The innovation and application of three core hard technologies—biotechnology, information technology, and new materials combined with intelligent manufacturing—in medical scenarios are rewriting the history of healthcare industry innovation. Meanwhile, they are bringing profound changes to human life, representing a future that is both unknown and full of infinite possibilities.
This summit brings together scientists, entrepreneurs, and investors in the medical field to promote the spirit of scientific inquiry and entrepreneurship. Centered on venture capital relationships, it focuses on cutting-edge technologies and industrial innovation across the entire health and healthcare sector, documenting and fostering the innovative growth of startups, research universities, and medical institutions.
Day 1 of the main forum focuses on the translation of scientific research achievements and interdisciplinary integration, inviting international academicians and scientists to share their explorations and challenges in the translational journey. Day 2 centers on industrial innovation and development driven by cutting-edge technologies, structured around three major technology clusters. How does technology facilitate the advancement of medical research? How can cross-disciplinary integration between technology and biomedicine foster a new ecosystem? How can the translation of scientific research achievements be advanced in the era of big data? What are the opportunities and challenges in translating scientific research achievements from an investment perspective?December 6-7, the conference will seek answers to the aforementioned issues.
Conference Dates: December 6–7, 2022
Venue: Suzhou, China
Organizers: VCBeat VB100, Eggshell Research Institute, Suzhou New District Administrative Committee
Conference Scale: 500 attendees
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