On November 15, the high-tech zone (Binjiang) Biomedical Innovation Alliance ("BIA") inaugural meeting and academic exchange conference was held in Hangzhou. At the meeting, the constitution of the alliance was formally adopted, the chairman, vice-chairman and secretary-general of the alliance were voted on, and 40 director units approved to join the alliance were announced.

The Alliance is an open, non-profit cooperative organisation for all innovative companies in the biomedical industry with the aim of scientific and technological innovation. Through the existing key experts and enterprises in the field of innovative drugs, in vitro diagnostics and high-end medical devices in the region, a group of promising innovative biomedical companies will be identified and combined with research institutions, hospitals, CRO companies, professional investment institutions and government agencies in the region to form a biomedical industry ecology.

Director of the Alliance, Shaobing Hua, said the Alliance intends to play an active role in promoting the development of the biomedical industry in the region in many ways, such as providing technical and regulatory advice and resource matching for innovative biomedical enterprises in the region, and promoting resource matching and sharing among companies in the region. Build an ecology of innovative biomedical talents and technologies in the high-tech zone (Binjiang) through targeted introduction and cultivation. To provide decision-making advice for the development of the life and health industry and to be an industry information provider and advisor in the formulation of biomedical industry policies in the region.

In the meantime, the Charter will play an important role in ensuring the healthy operation of the Alliance. The Charter states that the short-term goal of the Alliance is to promote a significant increase in the innovation capacity of advanced medical devices, biopharmaceuticals and in vitro diagnostics through 3-5 years of efforts and through the provision of RMB 300-500 million in government funding to re-support the innovation R&D of echelon companies (e.g. "5050 Plan" companies, gazelle companies, etc.).

The establishment of the Alliance and the adoption of the Charter have given the board members a sense of belonging and a greater expectation for the future of the biomedical industry. It is believed that the establishment of the BIA will become an important force in promoting the leapfrog development of the life and health industry in the high-tech zone (Binjiang).