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he miao of shanghai guotou: market valuation is at a 10-year low, and biopharmaceuticals call for "patient capital"

2024-09-23

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"science and technology innovation board daily" september 23 (reporter zhang yangyang)"both the primary and secondary markets have now reached their lowest valuation point in the past decade. investing at this point in time will actually have a higher margin of safety. so we call for more capital to pay attention to the biopharmaceutical field."

at the fourth "overseas talents" global innovation and entrepreneurship summit, a dialogue between scientists, entrepreneurs and investors, he miao, deputy general manager of shanghai state investment corporation's biomedicine industry fund, introduced the latest situation of the strategic layout and implementation of shanghai's 22.5 billion yuan biomedicine industry mother fund.

in july this year, shanghai launched three major leading industry mother funds with a scale of 100 billion yuan. one of them is the biopharmaceutical mother fund with a scale of 22.5 billion yuan, focusing on investing in innovative drugs and high-end preparations, high-end medical devices, biotechnology, high-end pharmaceutical equipment and other fields.

he miao said that judging from the current situation of the capital market, it is currently in a capital winter period, ipos have slowed down, the valuation center of the secondary market has been lowered, and the financing situation in the primary market is not optimistic. however, the biopharmaceutical industry is full of hope for development, and long-term demand still exists.

on the industrial side, shanghai's biopharmaceutical industry is at the forefront and forerunner of the country. however, compared with the world's top agglomeration regions, shanghai still has some shortcomings, such as the lack of world-class leading enterprises, lack of unified integration of r&d, involution and short-sighted investment.