We recently had a chance to talk with Greg Scott, President and Founder of ChinaBio®, a consulting and advisory firm based in Shanghai that is focused exclusively on China’s life science industry. It is about to host the sixth annual ChinaBio® Partnering Forum on May 7-8 in Suzhou and has just launched a new VC fund with partners Daan Gene and the Foshan government in Guangdong province. ChinaBio is based in Shanghai with offices in Foshan, San Diego and Silicon Valley.
ChinaBio is well known for its conferences in China. Tell us about the ChinaBio® Partnering Forum coming up in May.
The ChinaBio® Partnering Forum is now the largest international partnering conference in China. It’s really about bringing western pharma and biotech companies to China to meet with up-and-coming Chinese companies for the purpose of doing deals – co-development, licensing, marketing and distribution, etc. Last year, we had over 750 attendees from 400 companies and 23 countries who held over 1100 one-to-one meetings to discuss potential partnerships. Some had as many as 30 meetings, so this is a very efficient way for companies to launch their partnering effort in China.
What’s this we’re hearing about a new ChinaBio venture fund?
That’s right. We’ve just launched our new VC fund specifically to help western life science and healthcare companies bring their products and services to China. We’re looking for companies with commercial or near-commercial medical devices, diagnostics, services and therapeutics that are a strong fit for China’s rapidly growing market. We expect to invest $50M in 15-20 companies over the next 3-4 years.
Sounds like ChinaBio is keeping busy. And you also continue to help western companies come to China?
Yes, we’re very busy, but there’s always more to do. ChinaBio also has a consulting and advisory group focused on helping western companies come to China. We have worked with over 30 of the large multinationals like Pfizer, Roche and Life Technologies, as well as quite a few early-stage and mid-size companies. One of the best ways to enter the China market is with a trusted partner. So we often help our clients secure partnerships in China, whether it’s with a domestic company, a multinational with a strong presence here, or a well-respected CRO like WuXi Apptec who can help them with their R&D efforts.