WuXi taps external innovation through $50M venture fund
This article was originally published in Scrip
A number of Chinese pharma companies are beginning to increase their investments in original drug R&D, against the wider government-backed push to support drug innovation in the country. Contract development services provider WuXi PharmaTech, which has formed a $50 million corporate venture fund to foster external research, is the latest to increase its focus on innovation.
You may also be interested in...
The road to China's health-care market, once seen to be paved with gold by many medtech companies, is presenting more obstacles than before as a result of increased local competition and challenging policies. Multinationals and start-ups attending the recent China Healthcare Investment Conference discussed ways in which the medtech industry could continue to capitalize on this market's potential.
China is pushing ahead with initiatives in the precision medicine area, where it sees targeted diagnosis and treatment as particularly valuable in areas such as oncology, diabetes and cardiovascular disorders.
The China Food and Drug Administration has released the final version of its biosimilars guideline1.