Suzhou’s goal of building the Pharma Valley of China is based on its determination and solid existing infrastructure which was accumulated over the past decade. The Suzhou Industrial Park (SIP) area stands out in particular with its deep industry resources.
For years, SIP has been working continuously toward the goal of becoming a world-class biopharmaceutical hub, having consistently achieved a GDP growth rate of more than 20%. For the last three years, clinical approvals received for new biological drugs developed in SIP accounted for 22% of the total in China, and for biological macromolecular drugs, this number is approximately 30%.
SIP, one of the most advanced and competitive industrial parks of its kind in China, is represented by its extensive coverage in the fields of innovative drug development, high-end medical devices, and biotechnologies.
It is home to nearly one-third of China’s leading biomedical companies, with a series of leaders and upcoming champions within various niche markets. In a 2021 industrial park ranking released by the China National Center for Biotechnology Development, SIP was ranked second after Zhongguancun in Beijing in terms of overall competitiveness. SIP was also ranked first for industry competitiveness.
As of August 2020, SIP is home to over 1,400 biotechnology companies, including over 1,200 that are independently held, and over 200 foreign-owned. Total production volume in the area reached 90 billion RMB in 2019, consistently growing over 20% throughout the years.
Since its inception, SIP has produced a total of four unicorn (privately held start-up companies valued at over 1 billion USD) and 15 quasi-unicorn biomedical companies, and 11 companies that have gone public. Among the 20 Chinese mainland-based pre-revenue biotech companies listed on the Hong Kong Stock Exchange, 10 are either based or have research facilities in SIP.
Social, educational and industry resources are prerequisites to establishing a world-class biopharmaceutical capital. Suzhou’s existing industry know-how and the favourable strategy of developing an international, open, and academically rigorous institution are conducive to building a high-quality pharmaceutical school.
Suzhou’s goal of building the Pharma Valley of China is based on its determination and solid existing infrastructure which was accumulated over the past decade. The Suzhou Industrial Park (SIP) area stands out in particular with its deep industry resources.
For years, SIP has been working continuously toward the goal of becoming a world-class biopharmaceutical hub, having consistently achieved a GDP growth rate of more than 20%. For the last three years, clinical approvals received for new biological drugs developed in SIP accounted for 22% of the total in China, and for biological macromolecular drugs, this number is approximately 30%.
SIP, one of the most advanced and competitive industrial parks of its kind in China, is represented by its extensive coverage in the fields of innovative drug development, high-end medical devices, and biotechnologies.
It is home to nearly one-third of China’s leading biomedical companies, with a series of leaders and upcoming champions within various niche markets. In a 2021 industrial park ranking released by the China National Center for Biotechnology Development, SIP was ranked second after Zhongguancun in Beijing in terms of overall competitiveness. SIP was also ranked first for industry competitiveness.
As of August 2020, SIP is home to over 1,400 biotechnology companies, including over 1,200 that are independently held, and over 200 foreign-owned. Total production volume in the area reached 90 billion RMB in 2019, consistently growing over 20% throughout the years.
Since its inception, SIP has produced a total of four unicorn (privately held start-up companies valued at over 1 billion USD) and 15 quasi-unicorn biomedical companies, and 11 companies that have gone public. Among the 20 Chinese mainland-based pre-revenue biotech companies listed on the Hong Kong Stock Exchange, 10 are either based or have research facilities in SIP.
Social, educational and industry resources are prerequisites to establishing a world-class biopharmaceutical capital. Suzhou’s existing industry know-how and the favourable strategy of developing an international, open, and academically rigorous institution are conducive to building a high-quality pharmaceutical school.