AstraZeneca's Wuxi life science incubator now open
AstraZeneca said on Tuesday that its life science incubation facility in Wuxi is officially open and 10 domestic and overseas companies have moved in and started operations there.
Life sciences is a pillar industry in China and provincial governments are expecting industrial parks to attract upstream and downstream players and foster a healthy ecosystem to sustain industry development.
Local and international companies are also gradually getting back on track amid the COVID-19 pandemic outbreak.
The Wuxi International Life Science Innovation Campus, co-founded by the Wuxi government, Wuxi Hi-tech Zone and AstraZeneca, has a 300,000-square-meter space dedicated to pharma and medical device research and development.
The Wuxi National High-Tech Industrial Development Zone Biomedical Industry Innovation and Development Service Center was also unveiled at the campus as a service branch by the local drug administration to help accelerate the application and approval process for resident companies to bring new products to the China market.
Five new companies that joined the incubator include Teddy Lab Services, Chic Health Technology, VG Medical Technology and SWOTO Protection, involved in areas such as pharmaceuticals, equipment and protective gears.
A strategic partnership was also inked between the Wuxi International Life Science Innovation Campus and the Australian Trade and Investment Commission to facilitate exchanges between life science businesses from both countries.
"Backed by our global network, industrial resources, market insights and 27 years’ experience in China, AstraZeneca will continue to provide ICampus with all full support and build a one-stop enabling platform for innovative companies together with Wuxi Municipal Government and Wuxi Hi-tech Zone," said Leon Wang, AstraZeneca executive vice president and AstraZeneca International and China president.
"ICampus aims to become the most preferred choice for domestic and overseas life-science innovative companies to grow in China and achieve business synergies worldwide," he added.