German pharmaceutical giant Bayer , bullish on China's innovative pharmaceutical market, said it would continue to invest in China and look forward to further cooperation with local partners.
“China is becoming an increasingly important source of innovation in the life sciences and is also home to the world’s second-largest pharmaceutical market ,” said Juergen Eckhardt, head of business development, licensing and open innovation at Bayer’s pharmaceuticals division.
"The country's pharmaceutical research and industrial development has entered a new phase of innovation, taking on an increasingly important role in the global pharmaceutical value chain."
“China has a vibrant and vast market and continues to open up new opportunities for the world with new developments. As China continues to develop, its biomedical industry is at an important austria email address juncture. Strategic opportunities are attracting more and more multinational pharmaceutical companies to expand their presence in China, demonstrating the strong pull of the country’s market,” Eckhardt added.
Wang Hongwei, professor at the School of Life Sciences and vice president of Tsinghua University, noted that in the field of innovative drug development, there has been an increasing number of broader and deeper collaborations between Chinese startups and biopharmaceutical MNCs. The former group proposes new potential discoveries at the clinical stage, while the latter focuses on providing financial, technical and personnel support at the subsequent stages.
“This kind of collaboration has already formed as an innovation ecosystem in China ,” he said.
This year, Bayer and RTW Investments announced investments of $35 million and $127 million, respectively, in Shanghai-based biopharmaceutical company CORXEL. The three parties have joined forces to advance CORXEL's development in cardiovascular diseases and ophthalmology.
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On January 2, Swiss pharmaceutical company Roche entered into an agreement with biopharmaceutical company MediLink Therapeutics of Suzhou, Jiangsu Province , to jointly develop an innovative drug aimed at combating solid tumors.
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