Innogen wins biomedical growth-company first prize at the seventh China Innovation and Entrepreneurship Competition

The biomedical industry final of the seventh China Innovation and Entrepreneurship Competition was held in Guangzhou on 15 November 2018. Shanghai Innogen Pharmaceutical Technology Co., Ltd. stood out among more than 230 companies with its patented, independently developed project, ‘Efsubaglutide Alfa (Dabigang, 达必刚),’ winning first prize in the growth-company category. Shanghai Innogen focuses on innovative diabetes medicines. Founder Qinghua Wang said the company's goal was to bring an innovative diabetes medicine to market as quickly as possible and help end foreign pharmaceutical giants' dominance of the Chinese market. The China Innovation and Entrepreneurship Competition is China's largest platform and community for entrepreneurial innovation. Ascletis Bioscience (Hangzhou) Co., Ltd., the national first-prize winner in the biomedical growth-company category of the sixth competition in 2017, subsequently listed in Hong Kong. A series of major reforms announced by Hong Kong Exchanges and Clearing this year allows biotechnology companies without profits or revenue to list in Hong Kong, providing faster access to capital for the biomedical industry cluster in the Guangdong–Hong Kong–Macao Greater Bay Area. Drawing on Guangzhou's location and Greater Bay Area resources, this year's competition offered well-received presentations on Hong Kong listings for biomedical companies. The sessions examined key considerations during listing, debt financing in the Hong Kong market and refinancing for Hong Kong-listed companies. Winners of the biomedical industry final of the seventh China Innovation and Entrepreneurship Competition: