Cambridge will be the focus of a £25million investment programme from China Medical Systems (CMS) into early-stage biotech firms and life science start-ups.
CMS, a speciality pharmaceutical company listed on the Hong Kong Stock Exchange, will be supported by AstraZeneca and Cambridge Judge Business School.
The five-year programme will offer seed investment capital and aims to bridge the gap in funding for such ventures in the UK. It will also provide greater access to international markets, particularly China.
AstraZeneca has been mentoring biotech and life science innovators since 2015 and has collaborated with Cambridge Judge Business School on programmes to promote enterprise and support entrepreneurship among researchers and students. In four years, they have supported about 250 life science innovators and 40 life science start-ups through workshops, training and mentoring.
The new collaboration with CMS, which will open a programme office, will build on these networks and aims to strengthen opportunities for early-stage companies, particularly in the areas of therapeutics, diagnostics, devices and digital health.