SAN FRANCISCO--(BUSINESS WIRE)--At its ChinaBio® Executive Workshop held during the JPMorgan conference here, ChinaBio® LLC, a U.S. company based in San Diego and Shanghai, announced that it has formed a China domestic company to help U.S. life science companies establish operations and enter the China market more quickly and safely than they could on their own. This concept has been used successfully in the web industry by Baidu, Google’s primary competitor in China, but ChinaBio believes this is the first time that it has been applied to the life science industry.

“The advantages of operating as a China domestic company are tremendous,” said Greg Scott, founder and CEO of ChinaBio LLC, and President for ChinaBio Accelerator (Shanghai) Company Ltd., its China domestic company. “We can help U.S. companies directly access government and private funding, technologies and markets that would normally not be available to them. They have a trusted partner that operates under U.S. law, ChinaBio LLC, but they also have access to China’s abundant resources directly through our China domestic company, ChinaBio Accelerator.”

Activity in the life sciences has increased significantly in China over the last three years, with most major pharma and many device and diagnostic companies having established R&D facilities there, validating China’s rise as a leading force in the industry. Funding has also become widely available to China domestic companies through a variety of government sources. The central government’s Mega New Drug Development Program (MNDDP), which began funding companies late last year, is reported to be pumping over $12B USD into new drug development programs in China over the next five years. There are also numerous programs and funds available from provincial and municipal governments and agencies. For example, Suzhou, Guangzhou and Shenzhen each are said to have several billion dollar programs in place focused specifically on stimulating growth of the biotech and life science industry.

“Over our three year history in China, we have worked with most of the government agencies, life science parks and leading services companies here, and can quickly identify financial, technical and support resources for our partners,” explained Ian Wisenberg, ChinaBio’s Senior Vice President of Strategic Development. “Depending on our partner’s needs, we can quickly have them operating under our structure in as little as two weeks. When appropriate, we can also establish a subsidiary company or JV for them that can provide direct access to China resources.”

The ChinaBio Accelerator will initially operate out of ChinaBio’s newly expanded Shanghai offices in Zhangjiang Hi-Tech Park, but expects to have facilities open in other life science parks later this year.

“We are the first and only company to determine how U.S. companies can take full advantage of the resources available to China domestic companies, and make it simple and safe for them to operate in China,” Scott concluded.

About ChinaBio^® LLC

Since its founding in January, 2007, ChinaBio LLC has rapidly launched a number of successful initiatives connecting the world with China biotech. With offices in Shanghai, Silicon Valley and San Diego, ChinaBio’s activities include:

• ChinaBio® Accelerator: Helping U.S. life science companies establish operations in China quickly, simple and safely, and access financial, scientific and support resources.
• Conferences: Organizer of the premier life science investment and partnering forums in China, ChinaBio has helped early stage China companies raise over USD 140 million to date.
• Consulting: Helping global life science companies, entrepreneurs and investors understand the China life science market, create a viable China strategy, and establish novel technologies and partners.
• Information: In-depth market intelligence and databases on novel technology development, clinical trials, and investment and partnering activity in China.
• ChinaBio^® Today: Publishing online and email newsletters focusing exclusively on China’s life science industry.

More information is available at www.chinabiollc.com.

U.S.:
ChinaBio LLC
Ian Wisenberg
Senior Vice President
U.S. Cell: +1 858 722 2552
iwisenberg@chinabiollc.com
or
China:
ChinaBio LLC
Jean Meng, +86 21 5137 0751 (Office)
Cell: +86 137 6427 3243
Business Director
jmeng@chinabiollc.com