January 12, 2018

Waigaoqiao FTZ’s new joint venture aims to promote biomedical innovation

Wuxi AppTec and Shanghai Waigaoqiao Free Trade Zone Group Co recently unveiled their joint venture Shanghai Free Trade Zone Biomedical Innovation Center.

The center serves as a biomedicine incubator and aims to build an industrial cluster of global technological innovation.

Wuxi AppTec said the innovation center will strengthen the functions of Shanghai FTZ and accelerate the construction of Shanghai’s technology and innovation center, gather more biomedicine companies in the zone, and push forward the zone’s economic restructuring.

Also, Wuxi AppTec and the Waigaoqiao group will use their advantages in technologies, resources, and channels to provide domestic and foreign biomedicine researchers with one-stop service, including research support, technological support, and venture capitals for biomedicine entrepreneurship projects.

In the future, the two parties will use the zone’s innovation preferential policies to build the center into a comprehensive platform of incubator, investment and financing, and equity transaction, in order to advance global biomedicine researches and industrialized projects.