AstraZeneca opens life sciences incubator
Print Edition
ASTRAZENECA yesterday officially opened its life sciences incubation facility in Wuxi, saying 10 domestic and foreign companies have already started operations there.
Life sciences is a pillar industry in China, and provincial governments expect 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.
The Wuxi International Life Science Innovation Campus, co-founded by the Wuxi government, the Wuxi Hi-tech District and AstraZeneca, has 300,000 square meters 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 approval process for resident companies to bring new products to the Chinese 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.
Astrategic 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.
“Backed by our global network, industrial resources, market insights and 27 years’ experience in China, AstraZeneca will continue to provide I-Campus with full support and build a one-stop enabling platform for innovative companies together with the Wuxi Municipal Government and the Wuxi Hi-tech District,” said Leon Wang, AstraZeneca executive vice president and AstraZeneca International and China president.
“I-Campus aims to become the most preferred choice for domestic and overseas life-science innovative companies to grow in China and achieve business synergies worldwide.”
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