Wuxi's Huishan district has been promoting the development of industry-university-research cooperation and has witnessed great achievements, according to senior officials.
Cellular Biomedicine Group Inc -- or CBMG -- a Nasdaq-listed biomedicines company, recently announced an additional infusion in capital of $75 million. This is the largest increase in the company's capital since its listing on the US Nasdaq Stock Market in 2014.
Located in Wuxi (Huishan) Life Science and Technology Industrial Park, the company was also named one of the 50 Smartest Companies in China in 2019 by MIT Technology Review.
The company was chosen by international pharma group Novartis to work on clinical trials of CAR-T therapy. Novartis has created a sophisticated process for manufacturing CAR T Cell Therapies – cutting-edge treatments which use a patient's own immune system to fight certain types of cancers.
Zhang Li from CBMG said the company owns over 80 independent intellectual property technologies, making the company competitive in the world.
In 2018, Wuxi Huishan Life Science and Technology Park signed with CASI Pharmaceuticals, a US biopharmaceutical company, to build a state-of-the-art manufacturing site here.
Officials at Huishan district said it will continue to promote its business environment to attract more investments and technicians and experts.
