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Shanghai Offers Financial Support for Novel Drugs, Devices and Services

In late May, Shanghai 's municipal government announced a set of cash incentives for Shanghai companies that are developing new drugs, medical devices or signing contract manufacturing agreements. Shanghai will underwrite 40% of a novel drug's R&D expenses if the drug qualifies for China 1.1 status (candidates never approved anywhere). In addition, other new biologics will receive up to $1.5 million and chemical drugs $500,000, while new TCM therapies will be eligible for up to $4.5 million. The plan was originally described by Brian Yang of Pink Sheet (see article ), who generously allowed ChinaBio™ Today  to use the information. More details.... Share this with colleagues: // //
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