Tianjin Binhai New Area To Invest RMB 10 Billion In Pharmaceutical Industry
This article was originally published in PharmAsia News
Executive Summary
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)