China’s biotech boom: Collaboration, not competition, for Singapore

[SINGAPORE] Rather than viewing China’s biotech prowess as a threat, Singapore should leverage its position as a bridge between Asian innovation and Western capital to tap collaboration opportunities with its larger neighbour, industry players say.

China has accounted for over 75 per cent of regional venture capital (VC) and private equity funding since 2019, and now contributes 26.7 per cent of all drugs in the global development pipeline – up from 23.6 per cent a year ago, a report by consulting firm Bain & Company indicated.

This rapid rise has been fuelled by government initiatives, regulatory reforms and a strategic shift away from “me-too” and “me-better” drugs towards original, breakthrough innovation, said a separate report by Barclays.