SHANGHAI, July 5, 2024 /PRNewswire/ — Chime Biologics, a leading global CDMO that enables its partners’ success in biologics, affirmed its commitment to innovation and quality at the recent China Biologics Going Global Forum held in Shanghai.
Dr. Jimmy Wei, President of Chime Biologics, highlighted that the company’s competitive edge arises from ensuring product quality, leveraging efficiencies, and maintaining stringent cost controls. Chime Biologics’ lead investor, VMS Group, also attended this forum. Andrew Ng, Partner and Head of Healthcare of VMS Group, shared that since 2017, about 70% of VMS healthcare investments have been in the Greater China region, with the remainder invested in the global market, especially in Europe and the United States.
Bing Chen, Vice President of International BD and Venture Fund at AstraZeneca mentioned that it was previously sufficient for innovative medicines to be a regional leader, but winning products now need to be best-in-class globally. By launching best-in-class products, Chinese pharmaceutical companies are more likely to attract additional global collaboration opportunities.
Speeding Up Globalization
In a roundtable discussion moderated by Dr. Hongtao Lu, co-founder and Chief Scientist of Elpiscience, a panel of industry leaders noted that though local pharmaceuticals have created many clinically valuable products such as bispecific antibodies that are typically used for cancer treatment, there are relatively few products that leaped from zero to one.
Global CDMOs such as Chime Biologics play an important role in global innovation, with a significant increase in licensing deals between local biotech companies and U.S./European biopharmaceutical companies, especially in license-out deals. Chime Biologics can help biotech companies go to market from the pre-clinical to commercial manufacturing stages, leading to a win-win situation, which will be a major trend in the next decade.
Charting a Sustainable Growth Trajectory
Dr. Jimmy Wei, President of Chime Biologics, observed that: “Foreign biopharmaceutical companies have gone through several market cycles, and when they choose CDMOs, they are more concerned about its long-term developmental prospects, the technology level, and whether the quality systems are aligned with international standards. Domestic companies also have higher requirements when looking for partners now.”
With a focus on innovation and quality, the Chinese biopharmaceutical industry is actively charting a sustainable growth trajectory internationally, which was often echoed by speakers and panelists at this forum when discussing drivers to enhance the industry’s global presence and competitiveness in international markets.
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