Deeply focusing on industrial policies, global pharmaceutical R&D trends, and investment and financing dynamics, comprehensively discussing global pharmaceutical innovation development trends, and jointly exploring new developments in biopharmaceutical investment cooperation. On September 27, 2020, the 5th China Pharmaceutical Innovation and Investment Conference (hereinafter referred to as the "Venture Capital Conference") was launched in Suzhou Industrial Park. Well-known pharmaceutical companies such as Simcere Pharmaceutical, pharmaceutical industry experts, and investment experts participated in this conference.

　　At the meeting, Ren Jinsheng, Annual President of the China Pharmaceutical Innovation Promotion Association and Chairman and CEO of Simcere Pharmaceutical, delivered a speech on behalf of the organizer: "Currently, China's biopharmaceutical industry faces many uncertainties and an unprecedented series of challenges. The next five years will be a critical opportunity period for the transformation and upgrading of China's biopharmaceutical sector.

　　Patients are regardless of race or borders. China's pharmaceutical innovation and investment must not only focus on the internal circulation of market and resource elements but also make good use of Chinese elements and advantages, be proactive and bold, and vigorously promote foreign exchanges and cooperation, using openness and collaboration to foster higher-level innovation and investment. Let us firmly remember the noble mission of helping patients, adhere to open innovation, and contribute China's strength to global innovation and investment in the life sciences field."

　　Song Ruilin, Executive President of the China Pharmaceutical Innovation Promotion Association, presided over the opening ceremony speech session. Ren Jinsheng, Annual President of the China Pharmaceutical Innovation Promotion Association and Chairman and CEO of Simcere Pharmaceutical, Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, and Li Yaping, Deputy Secretary of the Suzhou Municipal Committee and Mayor of Suzhou, delivered speeches on behalf of the organizers, warmly welcoming leaders, experts, and colleagues from the investment and pharmaceutical sectors, and wishing the conference a complete success. Chen Deming, former Minister of Commerce and President of the China Association of Enterprises with Foreign Investment, and Shang Fulin, Director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and former Chairman of the China Banking Regulatory Commission, also delivered speeches at the opening ceremony.

　　New challenges brought by big data and omics-driven medicine

　　Professor Wang Yongjun, Director of Beijing Tiantan Hospital affiliated with Capital Medical University, delivered a speech titled "Innovative Drug Development from the Perspective of Clinical Research," discussing the health industry driven by big data and omics. Professor Wang stated that with the advent of high-definition medicine, big data and omics-driven medicine bring new challenges to new drug development and clinical medicine. From the perspective of industrial structure, the industry driven by omics and clinical big data can be roughly divided into five categories, including health big data, medical blockchain, medical artificial intelligence companies, reverse drug development, etc., all driven by big data.

　　He also mentioned: "On July 30 this year, we promoted the launch of Simcere Pharmaceutical's neuroprotective innovative drug Edaravone Dexborneol Injection Concentrate (brand name: Xianbixin®), which is the result of ten years of joint efforts with Simcere. This precisely utilizes the powerful clinical evaluation function of the national center ARO."

　　Discussing global pharmaceutical innovation development trends

　　In the discussion session on "Global Pharmaceutical Innovation Development Trends," He Ruyi, former Chief Scientist of the CFDA Drug Evaluation Center, said: "Although China's innovative drug development has been very good in recent years, we must recognize the gap with international advanced levels. I personally feel that the key areas for breakthrough new drug development are biologics and improved new drugs, which are our strengths. Other new technologies such as gene therapy will also make breakthroughs in the next few years and catch up with the world's advanced levels."

　　How to pay for valuable innovation is the focus of attention for Kang Wei, Executive Director of RDPAC: "In terms of national medical insurance fund expenditure, compared with other advanced countries, the proportion of innovative drugs is still relatively small. For truly patented innovative drugs, it may be less than 10%, while developed countries have at least 50% to 60%. We can also see that the country is conducting industrial adjustments and policy guidance to increase investment in valuable innovation. However, the medical insurance fund is limited, and exploring diversified payment methods and commercial insurance in the future requires joint efforts from the industry."

　　Jiang Jiandong, 2017-2018 President of the China Pharmaceutical Promotion Association and Director of the Institute of Materia Medica, Chinese Academy of Medical Sciences, stated: "The COVID-19 pandemic has changed many previous views of the industry. For example, it was previously believed that infectious diseases such as tuberculosis, poliomyelitis, AIDS, and hepatitis B were basically well controlled, but the sudden outbreak of COVID-19 has had a significant impact globally. Related vaccine and drug research have become focal points, reminding us that there are actually many unknown infectious diseases that need better control."

　　Li Ning, CEO of Junshi Biosciences, believes that the future of innovative drug companies is bright but the path is tortuous. How to unify this path in terms of government policies and talent cultivation and collaborate is the fundamental factor for the survival of innovative drug companies and a critical issue that China's pharmaceutical innovation must deeply consider.

　　President Song Ruilin acknowledged their views and summarized: "Studying global pharmaceutical innovation trends should have its own characteristics, conform to China's national conditions, but at the same time not lag behind the development of the world. How innovative companies can base themselves in China and look at the world requires attention to current clinical needs, world demands, and a global perspective."

　　Additionally, Ren Jinsheng, Chairman and CEO of Simcere Pharmaceutical, mentioned at the conference: Let us firmly remember the noble mission of helping patients, adhere to open innovation, and contribute China's strength to global innovation and investment in the life sciences field. In response, Simcere Pharmaceutical will fulfill its mission with practical actions.