Fifty biopharmaceutical projects have been established in Waigaoqiao this year, meaning that on average, there was one project joining the bonded area's biopharmaceutical "ecosystem" every week. Currently, the bonded area has gathered 848 biopharmaceutical companies.
Several global cutting-edge biopharmaceutical projects have also landed in Waigaoqiao this year. These include global in vitro diagnostics company QuidelOrtho, which focuses on clinical laboratories, transfusion medicine, point-of-care testing, and molecular diagnostics, and clinical-stage biopharmaceutical company Immunophage, dedicated to developing first-in-class innovative drugs aiming at global leading targets. These projects will further invigorate the biopharmaceutical industry in the bonded area.
This year, the Waigaoqiao Industrial Fund was established in the bonded area, with a scale of 1 billion yuan (US$137 million) and an initial phase of 400 million yuan. Several mature projects have already entered the project approval stage.
Shanghai Waigaoqiao Biopharmaceutical Industry Development Co Ltd was unveiled in May. As a wholly-owned subsidiary of the Waigaoqiao Group, it is committed to providing specialized industrial support services for the biopharmaceutical industry.
"Cell and gene therapy is a technology and capital-intensive industry. With policy liberalization, there will be numerous collaboration opportunities for leading domestic and international companies. As a hub linking domestic and international markets, the Waigaoqiao Bonded Area aims to help companies develop through service platforms, including financial support and industrial project achievement transformation," said Zhu Yaopeng, general manager of Waigaoqiao Biopharmaceutical Company.
