Empowering ecosystem of biopharmaceutical industry

Zhangjiang Group and Novartis have signed a memorandum of understanding for the development of the Novartis China Life Sciences Open Innovation Platform.

The agreement, inked on Saturday at the 4th China International Import Expo, aims to empower the ecosystem of the biopharmaceutical industry.

The Pudong New Area is promoting the Global Open Innovation program for multinationals, seeking to incubate innovation startups along the value chain through collaboration with leading global enterprises.

The platform is set to play a role in boosting the innovation capacity of Shanghai and Pudong's biopharmaceutical industry.

Biopharmaceutical industry is one of the six core industries prioritized by the Pudong New Area government, said Wu Qiang, vice director of Pudong, at the signing ceremony.

Pudong's biopharmaceutical industry is already showing strong momentum with emerging innovation, and the platform will take advantage of the strengths of both sides to support Pudong to become a source of innovation in the biopharmaceutical industry around the world, said Wu.

Zhangjiang has led the way in terms of biomedical innovation and new drug development after nearly 30 years of growth.

Among the global top 10 pharmaceutical companies, seven have branches in Zhangjiang.