Earlier this year at BioPharma Asia Convention, when we spoke to some speakers about their thoughts on the key growth strategy that Asian biotech companies should adopt, there seemed to be a unanimous agreement that looking beyond Asia is the way to go.
“Biotech companies in Asia have to think globally, and link globally. “ Rongjin Lin, Chairman & General Manager of TTY Biopharm from Taiwan said. Lin commented that collaboration with MNC would bring more experiences and learning to the Asian biotechs, which can be applied on the talent and organization development, R&D management, regulatory affairs, manufacturing operations, financial and risk assessment, and etc.
In addition, investment and licensing deals are also viewed as some of the key areas to work on globally. Solely relying on investment from Asia is not enough. Ei Yamanda, president & CEO of AnGes MG believes that larger investment from worldwide are useful and Asian biotechs should aim for attracting global investments.
As Europe and US biotech start-ups continue to suffer from a shortage of venture capital financing, this is also the time for Asian biotechs to step up their licensing efforts. According to Jun Bao, Senior VP & CBO of Shenogen Pharma Group in China, small to mid-size companies in the US and Europe are more willing to let Asian companies to develop their products in Asian territories under the constraint of limited resources.
The above were a few key takeaways we have had at the convention this year. As the pharmaceutical industry in Asia is gearing up to be at the center of the global market, we are expecting more interesting developments and debates next year. If you are interested in the development of Asian biotech industry, you may want to consider joining us next year at BioPharma Asia Convention 2015.