On the ‘back’ of successful AusBiotech investment events in Shanghai and Hong Kong, AusBiotech is deepening its relationship and work in China with a raft of activities, including an arrangement with China BlueSky Partners to represent AusBiotech to Chinese investors and potential collaborators.
Following the second investment event in Shanghai and the eighth in Hong Kong, that together attracted over 450 Asian investors and potential partners to consider the 15 Australian life science companies, AusBiotech has now commenced the ‘Australia-China Life Sciences Partnership Program’ (China Program) with a grant from MTP Connect*.
The China Program will increase awareness and opportunities for communication, collaboration and commercialisation between the life sciences sector in Australia and China. It will deliver high-quality, collaborative research and industry projects as well as valuable data analytics on commercial engagement between the two countries.
To assist AusBiotech in these activities, it has contracted China BlueSky Partners in Shanghai to further develop the China-based network of companies, investors and potential research collaborators. Rob Scott, the CEO of China BlueSky Partners, will lead these activities in China ensuring that the life science sector in China is aware that Australia is a potential globally-competitive partner of choice.
China will be the largest healthcare market in the world in the near future. There is increased government support for large-scale health reforms and remarkable policy changes happening.
The latest trends in China include:
- An ageing population and an increased focus on aged care and related technology solutions;
- Pollution and other unhealthy lifestyle choices have led to a disproportionate burden of chronic disease;
- A growing middle class with an emerging private hospital and health insurance industry;
- Improving coverage of universal national healthcare insurance schemes;
- Reduction of regulatory filing times and accelerated new drug approvals; and
- The Chinese regulator accepting clinical trial data collected outside China, putting Australia’s world-class capability in a competitive position.
* This venture has received funding through the MTPConnect Project Fund Program – a dollar-for-dollar matched program investing in big, bold ideas to improve the productivity, competitiveness and innovative capacity of Australia’s medical technology, biotechnology and pharmaceutical sector. MTPConnect is supported by the Australian Government Industry Growth Centres Initiative – learn more at mtpconnect.org.au