Shanghai’s focus on life sciences means that it is challenging Hong Kong’s position, says Zhu Shen , CEO of BioForsight, in Gen News.
The Shanghai Zhangjiang Hi-tech Park, located in the Pudong New Area, is home to more than 3,600 companies focused on life sciences, software, and information technology. Of those, more than 250 are life sciences companies, employing a total of 20,000 life sciences professionals. About half the Park revenues are from life sciences, Dr. Shen adds.
The Zhangjiang Drug Valley, as that park is nicknamed, has developed 17 square kilometers of the 25 square kilometers within the park. Companies include 7 of the top 10 big pharma companies and more than 110 indigenous CRO or outsourcing firms, novel drug discovery firms, contract manufacturers, and others. Nearby organizations include the Shanghai Institute for Biological Sciences, and Shanghai University of Traditional Chinese Medicine.
About 80 kilometers west, “Suzhou BioBay is hungrier and more aggressive, and focuses on early-stage and innovative companies,” Dr. Shen says. “Government officials at Suzhou BioBay and at Suzhou Industrial Park tend to be younger, energetic, and well-versed in English and Western-style business operations.” The parks are known for consistent policies, pro-business mentalities, and large private funding networks.
Zhu Shen is also a speaker at the China Speakers Bureau . If you want to share her insights, do get in touch.