Shanghai Waigaoqiao Free Trade Zone Group is ramping up efforts to rally more leading enterprises in the biopharmaceutical industry to expedite the effective integration of innovative technologies and industrial development, thereby propelling the full-chain development of the sector.

Since the beginning of this year, 50 biopharmaceutical projects have landed in the Waigaoqiao Free Trade Zone, forming a strong magnetic field for over 800 biopharmaceutical enterprises.

The biopharmaceutical industry is a strategic emerging sector and a key focus for development within the free trade zone. Several cutting-edge global biopharmaceutical projects landed in Waigaoqiao this year.

Global in vitro diagnostics company QuidelOrtho, focusing on clinical laboratories, transfusion medicine, point-of-care diagnostics, and molecular diagnostics, as well as clinical-stage biopharmaceutical company Immunophage, which is dedicated to the innovative development of first-in-class drugs targeting globally leading therapeutic areas, will further ignite the vitality of the biopharmaceutical industry in the free trade zone.

Anchoring the two main tracks of cross-border R&D and production of cell and gene therapy and local manufacturing of international medical devices, Waigaoqiao is responsible for the nurturing of the ecosystem. It has set up an industry fund valuing 1 billion yuan ($137 million) to provide funding and solutions for biopharmaceutical projects in the free trade zone.

Shanghai Waigaoqiao Biopharmaceutical Industry Development Co Ltd, a wholly-owned subsidiary of Shanghai Waigaoqiao Group, was established in May this year. It is dedicated to providing specialized industrial support services for biopharmaceutical enterprises, facilitating investment matchmaking with financial institutions, and accelerating the healthy development of key projects in the free trade zone.