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WND leads China's biomedical industry with impressive growth
Updated: Jun 2, 2023
wndonline.cn
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The Wuxi International Life Science Innovation Campus in WND. [Photo/icampuswuxi.com]
With continued investments, innovation, and talent attraction, Wuxi National Hi-Tech District, or Wuxi New District (WND), in Wuxi, Jiangsu province has solidified its position as a prominent hub for China's biomedical industry.
The district secured a position among the top 50 national biomedical industrial parks in the 2021 list released by the China National Center for Biotechnology Development, with the value of its biomedical industry surpassing 87 billion yuan ($12.24 billion), accounting for over half of Wuxi's total.
To date, WND has attracted 420 biomedical companies, including four pharmaceutical enterprises among the world's top 50 and five medical equipment manufacturers among the world's top 100. It has formed an industrial cluster that focuses on innovative drugs, medical devices, special medical foods, intelligent healthcare, and health services.
WND is accelerating efforts to build a comprehensive and high-end innovation platform that encompasses research and development, technology commercialization, manufacturing, and clinical trials.
For example, the district is further improving its government services related to the product testing, customs inspection, and administrative approval of innovative drugs and medical devices. It has also facilitated the establishment of several third-party platforms and institutions, such as the Ruijin Yangtze River Delta Health Research Institute, to aid in product development for more enterprises.
To address funding issues for medical companies, especially startups, WND collaborated with AstraZeneca and CICC Capital to establish a fund worth $1 billion. Meanwhile, efforts are being made to set up a fund to help enterprises at the Wuxi International Life Science Innovation Campus.
Regarding public financing, WND is working with the Shanghai Stock Exchange to offer a 6-million-yuan reward for listed high-tech medical enterprises.
