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