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"Pharma in China Being Held to Higher Standard, Says Greg Scott, ChinaBio"
“Most Promising” China Life Science Companies Named at BioBay Investor Forum
The BioBay Investor Forum selected two early stage life science companies based in China as the “Most Promising Companies” among 18 presenters at the conference. BeiGene LLC was named most promising of the drug companies, and Suzhou KeyBay Biotechnology Inc. won the diagnostics and services category. The 18 early stage life science companies presented their business plans at the 3rd BioBay Investor Forum, held at BioBay life science park in Suzhou on November 3-4, 2010.
BeiGene, a new, Beijing-based drug discovery and development company focused on oncology, was founded by John Oyler, previously co-founder and CEO of BioDuro. In his presentation, Oyler stated that it is BeiGene’s world-class team, with both international and local China experience, that will enable it to successfully commercialize novel drugs targeting cancers prevalent in China as well as globally. John previously built BioDuro to over 700 employees before the company was acquired by PPD, a major U.S. CRO.
Suzhou-based KeyBay Biotechnology has formed a JV with iCubate, Inc., in the U.S., to develop new diagnostic tests for infectious disease and other applications based on iCubate’s innovative platform. “I am very honored that we were selected to receive the "Most Promising Company" award," Dr. Jian Han, founder, president and CSO of iCubate and CSO of KeyBay said. "We firmly believe that personalized medicine starts with personalized diagnosis, and that personalized diagnosis requires molecular differential diagnosis, and that requires a multiplex PCR approach." Dr. Han previously founded Genaco, which was acquired by Qiagen for $40 million.
Nearly 300 life science investors and executives attended the successful event, which was organized by ChinaBio® LLC and BioBay. Over 50 VCs were present, representing well known firms including KPCB, Fidelity, Mingly, Qiming, Goldstone, Softbank, Orbimed, and others. Representatives from big pharma and tool companies included Merck, Pfizer, Roche, Lilly, Life Technologies and Qiagen.
The event was the third Investor Forum held at BioBay and the ninth Investor Forum in China organized by ChinaBio. Founded in January 2007, ChinaBio® LLC has helped raise over $350 million in government and VC funding for emerging life science companies through these events. Next month, on December 21, ChinaBio will present its tenth ChinaBio Investor Forum in Guangzhou.
BioBay is the fastest growing life science park in China. Located in Suzhou Industrial Park less than one hour west of Shanghai. BioBay has attracted over 180 life science companies since it launched in June, 2007.
About ChinaBio® LLC
Since its founding in January, 2007, ChinaBio® LLC has rapidly launched a number of initiatives accelerating the globalization of China’s life science industry. ChinaBio has helped China companies raise over $350 million and global life science companies identify over 400 licensing and acquisition opportunities in China.
* Conferences: ChinaBio organizes the premier life science investment and partnering conferences in China, having attracted over 4,000 attendees.
* Consulting: ChinaBio works with global life science companies and China entrepreneurs to define and execute a successful global strategy.
* Transactions: ChinaBio helps companies secure partnerships and acquisitions and access private and government funding in China.
* Publishing: ChinaBio® Today is the most widely read online and email newsletter on China’s life science industry.
More information is available at www.chinabiollc.com.
BioBay is located in Dushu Lake Higher Education Town of Suzhou Industrial Park (SIP). Suzhou Industrial Park (SIP) is the largest cooperation program between China and Singapore, and is committed to building a globally competitive high-tech industrial park. BioBay is a key driver for innovation and a key focus of growth at SIP, and is a leader in the development of bio and nanotechnology throughout China.
BioBay has been officially designated as China International Nano-tech Innovation Cluster by Ministry of Science & Technology of PRC, Ministry of Commerce of PRC, and as Jiangsu Province Biopharmaceutical Incubator as well.
BioBay has more than 170 high-tech companies focusing on biotech, pharmaceutical, diagnostics, medical device, CRO, nanotech, and is committed to building a dynamic and interactive innovation cluster for talents and experts.
For more information, please visit: www.BioBay.com.cn.
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