Recently, Shanghai Guotou Leading Private Equity Fund Management Company officially launched the selection work for the sub-funds of the three major leading industrial parent funds, aiming to enhance the development level of Shanghai's integrated circuits, biomedical, and artificial intelligence industries to promote the high-quality development of Shanghai's economy.
As one of the economic centers of China, Shanghai's biomedical industry, an important industrial pillar, has nurtured many excellent research institutions and high-level pharmaceutical enterprises here. The scale of Shanghai's biomedical industry has grown from 103.46 billion yuan in 2008 to 600 billion yuan in 2020, with a compound annual growth rate of 15.8%. According to the "14th Five-Year Plan for the Development of Shanghai's Biomedical Industry", by 2025, the scale of Shanghai's biomedical industry will exceed 1 trillion yuan, and the manufacturing output value will reach 240 billion yuan.
The launch of the three major leading industrial parent funds in Shanghai this time will bring considerable financial support to listed pharmaceutical companies, promoting their research and development and market expansion in innovative drugs and medical instruments. At the same time, the establishment of this fund is conducive to the precise implementation of the requirements for the development of the three major leading industries by the Shanghai Municipal Party Committee and Municipal Government, accelerating the layout of industry chain shortcomings and key core areas, supporting original innovation and results transformation, promoting industrial mergers and acquisitions, and enhancing the overall capabilities and development levels of Shanghai's three major leading industries.
The establishment and launch of the three major parent funds will help the development of local CRO companies in Shanghai.
The launch of the parent fund has brought a "living water" of funds to the CRO industry. As a technology and capital-intensive industry, the CRO industry is also an important "water seller" for upstream biomedical enterprises, ushering in development opportunities under this background.
In recent years, Shanghai has seen the emergence of a number of outstanding CRO companies in the international market, such as Wuxi AppTec, Joinn Laboratories, and Shanghai Medicilon Inc. These companies have gradually become partners of globally renowned pharmaceutical companies through continuous enhancement of their technological innovation capabilities and service levels. The establishment of the parent fund will provide more capital and resource support for these companies, helping them gain a more favorable competitive position in the global market.
Among them, the first CRO listed on the STAR Market, Shanghai Medicilon Inc. (referred to as "Medicilon," stock code: 688202.SH), located in the Zhangjiang "Pharma Valley" in Shanghai, is one of the few comprehensive CRO companies in China that can provide a full range of services from lead compound screening, optimization, active pharmaceutical ingredient preparation, formulation process development, pharmacology research, to preclinical pharmacokinetics and drug safety evaluation.
After more than twenty years of development, Medicilon has built a comprehensive technical platform covering key technologies in drug discovery, pharmaceutical research, and preclinical research, providing comprehensive preclinical research services for large domestic and foreign pharmaceutical companies and many emerging well-known innovative biotechnology companies.
Among these customers are jiangsu hengrui pharmaceuticals, yangzijiang pharmaceutical, baiyunshan pharmaceutical, sh pharma, livzon pharma, chinares pharma, cspc pharma and other well-known large domestic pharmaceutical companies; it also covers regions such as the USA, Europe, Japan, south korea, etc. globally, and has accumulated numerous internationally renowned pharmaceutical companies and research institutions clients, including takeda pharmaceutical, johnson & johnson, glaxosmithkline, roche pharmaceutical, gilead sciences, etc.
Innovation is the driving force, shanghai medicilon inc. is committed to promoting high-quality development in the industry.
Customer recognition of shanghai medicilon inc. stems from its profound technical strength and research and development capabilities, as well as its rich service experience. Shanghai medicilon inc. was founded by returned experts with rich international experience in new drug research and development, and has established a team of senior researchers to ensure the company provides pharmaceutical research and development services to customers at scale and high quality.
According to the interim report of shanghai medicilon inc. in 2024, the research and development expenses reached 48.1183 million yuan during the reporting period, accounting for 9.23% of the operating income for the period, an increase of 2.22 percentage points compared to the same period last year.
In addition, in the first half of 2024, shanghai medicilon inc. added 5 new invention patent applications and obtained 3 patent authorizations. As of June this year, shanghai medicilon inc. has accumulated 34 authorized patents, including 27 invention patents and 7 utility model patents.
It is worth noting that shanghai medicilon inc. has made significant progress in various cutting-edge technology areas such as bispecific/multispecific antibodies, peptides, ADC, mRNA vaccines, small nucleic acid drugs, PROTAC, and cell gene therapies (CGT). These innovative technologies are expected to become important breakthroughs in future drug research and development.
According to public data, in the first half of 2024, the company has completed the research and development of 65 new drugs and generic drug projects that have been approved by the NMPA for clinical trials, and 4 have been approved by the US FDA for clinical trials. The project revenue conducted by the company in accordance with the standards of both China and the United States during the reporting period was 0.137 billion yuan, accounting for 26.25% of the company's main business revenue.
Overall, the launch of the three major leading industry venture capital funds in shanghai provides more capital and resource support for local CRO companies like shanghai medicilon inc., helping them to occupy a more favorable competitive position in the global market and drive the implementation of source innovation achievements.
