Tianjin Binhai New Area To Invest RMB 10 Billion In Pharmaceutical Industry

The Tianjin Binhai New Area will invest RMB 10 Billion ($146 million) over the next five years to set up an international-standard biopharmaceutical infrastructure and incubator in its 10-square-kilometer biopharmaceutical industrialization demonstration area. Expected to start operation in 2010, the public technology platform's core areas include a clinical trial platform, a drug testing and analysis center, the Tianjin National Biomedical Industry Base and good laboratory practice-compliant drug safety assessment center. To attract global and renowned local enterprises and R&D institutions, Binhai is establishing a biopharmaceutical industry development fund of RMB 5 billion and will allocate some RMB 100 million per year to support new drug R&D transfer. Project leaders can apply for subsidies of up to RMB 10 million based on the scale and R&D phase. (Click here for more - Chinese Language)