Close Menu
The Elite TimesThe Elite Times
  • Home
  • Entrepreneur
  • Finance
  • Fund
  • Investment
  • Marketing
  • Stock
  • World
  • Business

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Visionary Entrepreneur Manuel Manzoni and International Taxation Expert Marco Scardeoni Partner to Drive Global Expansion through GCC Advisors

April 16, 2024

Help comes to Fort Worth businesses affected by explosion – NBC 5 Dallas-Fort Worth

March 29, 2024

Lawmakers claim ‘irresponsible’ withdrawal from Endowment Fund proceeds to pay full dividends

March 29, 2024
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Elite TimesThe Elite Times
  • Home
  • Entrepreneur

    21 Great Business Ideas for Nurse Entrepreneurs

    March 27, 2024

    EY announces 18 female entrepreneurs selected for EY Entrepreneurial Winning Women™ Asia-Pacific class of 2024 | EY

    March 27, 2024

    Victims of Baltimore bridge collapse include father of three and budding entrepreneur

    March 27, 2024

    Until April 2nd, get great discounts with lifetime access to this stock market app

    March 27, 2024

    Secure and reliable project management support for $25

    March 27, 2024
  • Finance

    Rocket Pharmaceuticals Announces Appointment of Aaron Ondrey as Chief Financial Officer and Additional Updates to Corporate Leadership Team

    March 26, 2024

    Reddit ignites resurgence in meme stocks, further sign of ‘bull market on all fronts’

    March 26, 2024

    Walmart stock plummets, retail giant expected to see further growth

    March 26, 2024

    Stocks soar as Wall Street looks to continue breaking records

    March 26, 2024

    Stocks soar as Wall Street looks to continue breaking records

    March 26, 2024
  • Fund

    Help comes to Fort Worth businesses affected by explosion – NBC 5 Dallas-Fort Worth

    March 29, 2024

    Lawmakers claim ‘irresponsible’ withdrawal from Endowment Fund proceeds to pay full dividends

    March 29, 2024

    The LDP slush fund scandal: What will make po

    March 29, 2024

    City of San Antonio seeks dismissal of Reproductive Justice Fund lawsuit

    March 29, 2024

    Clashes expected between Biden fundraisers and President Trump during preview visit to New York

    March 29, 2024
  • Investment

    Amazon (NASDAQ:AMZN) accelerates investment in humanity and accelerates AI drive

    March 28, 2024

    Recent trends in Kazakhstan’s investment situation

    March 28, 2024

    City of South Bend shares plans for Madison Lifestyle District with more than $330 million in private investment

    March 28, 2024

    OKX Ventures announces strategic investment in MyShell, a pioneer in AI-integrated Web3 technology

    March 28, 2024

    Reform of the EU Foreign Direct Investment Screening Regulation – How might M&A Transactions be impacted? | Mayer Brown

    March 28, 2024
  • Marketing

    Premium hospitality is on fire

    March 27, 2024

    S&P 500 sets record as Wall Street emerges from lull

    March 27, 2024

    DevvStream Announces Multi-Year Agreement to Sell CFR Credits with Major Logistics and Marketing Company

    March 27, 2024

    Global online dating services market by service (casual dating, matchmaking, niche dating), subscription (annual, monthly, quarterly), age group, and gender

    March 27, 2024

    Tower Federal Credit Union Receives Two CUNA Diamond Awards for Creative Excellence in Marketing

    March 27, 2024
  • Stock

    Forget Tesla: We think the ‘Magnificent Seven’ should replace this stock

    March 27, 2024

    Forget about Tesla: One of the unstoppable artificial intelligence (AI) stocks belongs to the ‘Magnificent Seven’ instead

    March 27, 2024

    2 Artificial Intelligence (AI) Stocks with Potential for Parabolic Growth

    March 27, 2024

    Mr. Powell’s comment

    March 27, 2024

    What you need to know about Trump Media’s stock debut

    March 27, 2024
  • World

    Take a look inside the New York Stock Exchange, the world’s largest stock market

    March 26, 2024

    China challenges Biden’s electric vehicle plan at World Trade Organization

    March 26, 2024

    Wolfspeed joins Senator Thom Tillis and key officials to conquer world’s largest and most advanced silicon carbide facility

    March 26, 2024

    Amy Brenneman, Raviv Ullman, Jeremy Love, cast and others in ‘Galilee’ world premiere, 34 years old

    March 26, 2024

    These beauty brands are among the most innovative companies in the world

    March 26, 2024
  • Business

    Canadian business leaders say housing should be a top federal budget priority

    March 27, 2024

    The power of mentorship in business

    March 27, 2024

    Los Angeles County business owner forced to pay damages after SWAT raid

    March 27, 2024

    Chinese President Xi meets with foreign business leaders amid economic uncertainty | Business and Economic News

    March 27, 2024

    China’s Xi Jinping meets with US business leaders in Beijing

    March 27, 2024
The Elite TimesThe Elite Times
Home»Fund»Fosun Pharmaceutical partners with Shenzhen city government to raise US$700 million healthcare fund to invest in biomedical innovation
Fund

Fosun Pharmaceutical partners with Shenzhen city government to raise US$700 million healthcare fund to invest in biomedical innovation

The Elite Times TeamBy The Elite Times TeamMarch 14, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest WhatsApp Email

[ad_1]

One of China’s largest pharmaceutical companies will partner with the Shenzhen city government to raise a 5 billion yuan (US$700 million) medical fund to invest in startups and enterprises. Innovation in cell biologygenetics and other fields related to biomedicine.
Fosun Pharmaceutical The company’s subsidiaries Fuxing Shenyao, Fosun Pharma (Shenzhen) and Fujian Fund Management announced that they will join the Shenzhen Guidance Fund to launch the fund. The period will be 10 years, according to Fosun Pharmaceutical’s Thursday announcement.

A guidance fund managed by the city government of the southern Chinese technology center will underwrite half of the as-yet-unnamed fund.

At least 70 percent of the funds biomedical industryAccording to the announcement, this is in line with the Shenzhen government’s plan to develop Shenzhen as a medical manufacturing base.

According to data released by the Shenzhen government in December, Shenzhen is already home to 140 major biopharmaceutical companies, of which 11 are listed and eight have sales of 1 billion yuan. , and four companies have sales exceeding 10 billion yuan.

02:51

Biological robot made from human cells is expected to have medical applications

Biological robot made from human cells is expected to have medical applications

According to official data, Shenzhen’s biopharmaceutical industry contributed 14 billion yuan to the local economy in the first three quarters of last year.

In December 2023, Fosun Pharmaceutical established its Greater Bay Area headquarters in Shenzhen, demonstrating confidence in the city’s potential.

The city government has introduced a series of measures over the past two years to promote urban development, the company said. biomedical development and the general health industry. We expect the government to continue to strengthen industrial policy to support the sector.

Fosun Pharmaceutical emphasized its intention to leverage support from Shenzhen authorities to expand investments in biomedicine, precision medicine and related fields.

Fuxin Shenyao, a subsidiary indirectly controlled by Fosun Pharma, will serve as the general partner of the 5 billion yuan medical fund and oversee its day-to-day operations. The fund aims to attract non-local companies to invest in biomedical enterprises in Shenzhen and support small and medium-sized enterprises in the city.

We will also strive to obtain the relevant approvals required for clinical trials and registration certificates for pharmaceuticals.

Foreign companies such as Siemens Healthineers have been based in Shenzhen since the early 2000s. Last year, the German medical technology company reportedly announced it would invest at least 1 billion yuan to establish a new research and production base in the city, making it the second such facility in the southern metropolis.

Fuxin Shenyao plans to invest 20 million yuan in the new fund. Fosun Pharmaceutical’s two wholly-owned subsidiaries, Fujian Fund Management and Fosun Pharma Fosun (Shenzhen), will invest a total of 1.48 billion yuan, with the remaining 1 billion yuan mainly contributed by other district governments in the city. be done.

[ad_2]

Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleBenson Hill Reports Solid Full-Year 2023 Financial Results, Strengthens Balance Sheet
Next Article Are we losing the art of marketing relevance?
The Elite Times Team
  • Website

Related Posts

Help comes to Fort Worth businesses affected by explosion – NBC 5 Dallas-Fort Worth

March 29, 2024

Lawmakers claim ‘irresponsible’ withdrawal from Endowment Fund proceeds to pay full dividends

March 29, 2024

The LDP slush fund scandal: What will make po

March 29, 2024
Leave A Reply Cancel Reply

Demo
Latest Posts

21 Great Business Ideas for Nurse Entrepreneurs

March 27, 2024

EY announces 18 female entrepreneurs selected for EY Entrepreneurial Winning Women™ Asia-Pacific class of 2024 | EY

March 27, 2024

Victims of Baltimore bridge collapse include father of three and budding entrepreneur

March 27, 2024

Until April 2nd, get great discounts with lifetime access to this stock market app

March 27, 2024
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss

BYD aims to acquire major lithium company to expand EV battery business

By The Elite Times TeamJanuary 15, 2024

[ad_1] Leading Chinese EV maker BYD has entered into “active” talks with lithium producer Sigma…

Lawmakers announce agreement to expand child tax credit and business deduction

January 17, 2024

AI: A moment of transformation for business technology

January 18, 2024

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Demo
About Us
About Us

Welcome to [Your Website Name], your go-to source for comprehensive information on funds, investments, and the latest in stock news. We are dedicated to providing you with accurate, insightful, and up-to-date content to empower your financial decisions.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Visionary Entrepreneur Manuel Manzoni and International Taxation Expert Marco Scardeoni Partner to Drive Global Expansion through GCC Advisors

April 16, 2024

Help comes to Fort Worth businesses affected by explosion – NBC 5 Dallas-Fort Worth

March 29, 2024

Lawmakers claim ‘irresponsible’ withdrawal from Endowment Fund proceeds to pay full dividends

March 29, 2024
Most Popular

Visionary Entrepreneur Manuel Manzoni and International Taxation Expert Marco Scardeoni Partner to Drive Global Expansion through GCC Advisors

April 16, 2024

Teenage Girl Finds Mom’s Debit Card, Spends $64,000 on Mobile Games

January 9, 2020

Apple’s Beats Studio Pro Headphones Listed in FCC Database Ahead of Launch

January 10, 2020
© 2025 theelitetimes. Designed by theelitetimes.
  • Home
  • About us
  • Contact us
  • DMCA
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.