A roundup of some of the top stories in China’s healthcare and life sciences industry, including challenges for Chinese biotechs in the post-pandemic era, why the country needs a biosecurity law, and Chinese companies’ vital role in manufacturing vaccine-related products.
Why does China need a biosecurity law?
China started its work on biosecurity legislation in 2019, and this year the top legislators have reviewed the draft law for the second time. On May 21, Zhang Yesui, the spokesperson for the third session of the 13th National People’s Congress, told a press conference that China will strengthen its public health legislation and expects to review and approve the draft of the newly-formulated biosecurity law within 2020.
How China’s tensions could boost Hong Kong’s exchange
When Charles Li became chief executive of Hong Kong’s stock exchange a decade ago, it was after fighting off many contenders for the position. As HKEX’s board begins the search to replace its widely respected leader next year, the list of potential candidates is dishearteningly short.
Vaccine goal tailor-made for China’s biotech firms
One often overlooked issue that will likely surface when the time comes to distribute a COVID-19 vaccine is the need for billions of little glass vials, needles, syringes and other things required to distribute such a vaccine. China is likely to play a key role in manufacturing those products for use around the world. China and India are the largest manufacturers of these products. It is not unlikely that one or more of the vaccines that eventually contribute to beating the virus will be developed in China. When that happens, it will help elevate China’s biotechnology sector to world-class.
No Near-Term Impact on Chinese API Makers as Pharma Supply-Chain Shifts
Chinese active pharmaceutical ingredient (API) makers are unlikely to be significantly affected in the medium term by increasing trade protectionism and customer moves to reduce dependence on supplies from China, Fitch Ratings says. However, API makers with high exposure to India may lose customers because of the country’s initiatives to reduce reliance on Chinese API.#
Challenges posed to Chinese biotechs in post-pandemic era
With the outbreak tightly contained, business activities are starting to get back to normal in China. Opening in Suzhou on Thursday, the Enmore Bio Conference 2020 is one of the first industry galas to take place since the coronavirus hit the country. In the opening session, Chinese biotech insiders pointed to a bumpy road ahead for Chinese companies in the post-COVID-19 era.
EdiGene, Immunochina to develop CAR-T therapy
EdiGene and Immunochina have announced they are collaborating on the development of allogeneic CAR-T therapy for cancer. Both companies have experience in late-stage hematological malignancies. Though strides have been made in the use of autologous T-cell therapies, they believe allogeneic T cells could also play an important role in future treatments, according to the companies.
MGI Tech, a BGI Subsidiary, Raises USD 1 Billion to Make Gene Sequencing Machines
MGI Tech of Shenzhen, a company making gene-sequencing machines and related equipment, completed a USD 1 billion Series B round led by IDG Capital and CPE. The company is a subsidiary of Shenzhen’s BGI, China’s largest provider of sequencing services. MGI, which wants to offer a China alternative to Illumina (NSDQ: ILMN) products, makes clinical high-throughput gene sequencers, and its multi-omics platforms include genetic sequencing, mass spectrometry, medical imaging and laboratory automation devices. Founded in 2016, MGI announced a USD 200 million Series A round one year ago.