Life sciences companies to be helped to enter China's growing health care market

A new company has formed to help US 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 San Francisco, USA-based ChinaBio, which announced that it is setting up a subsidiary in China at this week's JP Morgan health care conference, 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 chief executive of ChinaBio, and president for ChinaBio Accelerator (Shanghai) Company, its China domestic company. 'We can help US companies directly access government and private funding, technologies and markets that would normally not be available to them,' noting that, in his firm, they 'have a trusted partner that operates under US law,' and also have access to its abundant resources in China.

Activity in the life sciences has increased significantly in China over the last three years, with most major pharmaceutical 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.

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