SEMC and FPC Signed an Agreement to Establish a Biomedical Industry Fund in Beijing

On February 1, 2018, during Prime Minister Theresa May's visit to China, Jason Xiang, General Secretary of the Sino-European Manufacturing Club (SEMC) and Edward Phillips, Head of Future Planet Capital, signed a cooperation agreement to establish a UK-China biomedical industry fund in Beijing. SEMC and FPC will work together to build a UK-China biomedical cooperation and investment platform based in China. The signing was witnessed by Liam Fox, Secretary of State for International Trade, and David Willetts, Chairman of Eight Great Technologies Investment Fund (8GT) and the former Minister for Science and Technology.

Jason Xiang believes that this cooperative endeavour will further promote the development of the biomedical industry in the UK and China, as well as greatly facilitate the progress of scientific research. The two parties agreed to invest 6 billion RMB in the next five years in various fields such as research and development for anti-cancer drugs, cardiovascular and cerebrovascular medicine, liver disease treatment, resistance to antibiotics, and the application of medical big data. Both parties have yet to release more detailed information.

  ▲ Jason (right) and Edward sign the agreement

In his speech, Liam said that the agreement with SEMC was undoubtedly a positive example of cooperation with a global perspective in the new era, and provides a strong foundation for broader cooperation between China and the UK. China is an important partner of the UK, and. the UK has enthusiastically welcomed Chinese companies to invest in the UK and has advocated for the pursuit of joint development opportunities. He also pointed out that the strengthening of cooperation between China and UK in the field of biomedicine is not only an important matter for the health of the public, but also for global development.

  ▲ Liam delivers a speech

In addition, Jason was invited to attend the signing ceremony of a 5 billion RMB project between 8GT and Leaguer. President of the Chinese Medical Information and big data Association (CHMIA) and former Deputy Director of the National Health Commission Jin Xiaotao, Liam Fox and Vice President of Research Institute of Tsinghua University in Shenzhen Liu Renchen were also present at the ceremony.

Li Yan, partner of Hongjian Medical Instruments (affiliated with Sichuan Development Holding Co., Ltd. Group of the SEMC delegation), Guo Ziyi (Chairman of the Guotongxin Fund), Mao Donghui (Executive Director of the X-lab of the School of Economics and Management at Tsinghua University) and Lu Yingni (General Secretary of SEMC in the UK) also participated in the above events.