Chinese regulators have approved three new coronavirus vaccines developed in China for clinical trials. Relevant news has culminated in joint efforts by startups, government-backed companies and research institutions over the past few months.
According to a report on the website of the Financial Times on May 3, the three companies approved for clinical trials are Kangxinuo Biological Co., Ltd., Beijing Kexing Zhongwei Biotechnology Co., Ltd. and Wuhan Institute of Biological Products.
However, there is still a big step between being approved for clinical trials and successfully developing a safe and effective vaccine. Although the Chinese pharmaceutical industry has matured a lot in recent years, on the whole, it is still better at achieving incremental innovation.
Li Jiaxin, a partner at Eli Lilly Asia Fund, based in Shanghai, said: "The first question is when will China develop the best or first of its kind. China is still catching up." Lilly Asia Fund is close to 10 Separated from Eli Lilly, a pharmaceutical company, it has invested more than US $ 2.3 billion in 90 industry startups to date.
It is reported that, like semiconductors, 5G and nanotechnology, biotechnology is a strategic priority in China, and relevant central and local authorities provide a lot of support to promising startups and their founders.
The report pointed out that China is the world's second largest pharmaceutical market after the United States, with a total annual expenditure of 137 billion US dollars. As China expands its social security network and increases the number of reimbursable drugs, drug spending figures are expected to rise substantially.
According to reports, China ’s vaccine demand is worth US $ 3.8 billion (less than a quarter of the US $ 16 billion in vaccine demand), which accounts for only a very small portion of the world ’s US $ 43.8 billion in vaccine demand, but this number is also expected Substantial Increase.
Entrepreneurs and their investors say it is only a matter of time before China becomes a leader in original research.
Sun Lefei, who is responsible for managing the stocks of Chinese biotechnology companies held by Pan-Atlantic Investment Group, said: "We still have no Ma Yun (founder of technology giant Alibaba Group) in the field of biotechnology. But 10 years later, the level of Chinese biotechnology will be able to Comparable with today's overall technical level. "
Li Jiaxin said: "The United States is mature. Any contribution you make there is like building a small house in a big city. Building a house in China is much more significant." In fact, most of the industry The founders of start-ups have all studied and worked in the United States. They eventually returned to mainland China to become entrepreneurial role models and angel investors, and introduced the practices they had seen in the West.
The report pointed out that for now, the biggest challenge facing Chinese researchers is how to combine their skills with the complementary advantages of the West to find a way out of this pandemic. Sun Lefei said: "Science is global. There should be no borders."