On October 16, the Chengdu Economic and Information Technology Bureau issued “Certain Policies and Measures to Promote the High-Quality Development of the Biomedical Industry in Chengdu” in order to further promote the construction of a strong chain of biomedical industry in Chengdu and accelerate the formation of new productivity in the field of innovative drugs and high-end medical devices. Among them, it was mentioned that the fund system should be improved. Make good use of the existing biomedical fund group, expand the size of the fund group in due course, and increase investment in potential enterprises and high-quality R&D pipelines around the upstream and downstream of the biomedical industry chain. Support enterprises to grow bigger and stronger through mergers, acquisitions and restructuring. Listed companies that carry out mergers and acquisitions transactions are given a subsidy of up to 1 million yuan for a single household based on 5 per cent of the actual transaction amount. Encourage the Chengdu Angel Mother Fund to “invest early and invest small in hard technology” in the biomedical industry, and provide one-time financial support of up to 1 million yuan for seed-stage and start-up biomedical technology companies receiving angel investment at 10% of the angel investment amount received by the enterprise. Strengthen ties with the National Manufacturing Transformation and Upgrading Fund, the Strategic Emerging Industry Development Fund, etc., and seek investment from major national funds.

On October 16, the Chengdu Economic and Information Technology Bureau issued “Certain Policies and Measures to Promote the High-Quality Development of the Biomedical Industry in Chengdu” in order to further promote the construction of a strong chain of biomedical industry in Chengdu and accelerate the formation of new productivity in the field of innovative drugs and high-end medical devices. Among them, it was mentioned that the fund system should be improved. Make good use of the existing biomedical fund group, expand the size of the fund group in due course, and increase investment in potential enterprises and high-quality R&D pipelines around the upstream and downstream of the biomedical industry chain. Support enterprises to grow bigger and stronger through mergers, acquisitions and restructuring. Listed companies that carry out mergers and acquisitions transactions are given a subsidy of up to 1 million yuan for a single household based on 5 per cent of the actual transaction amount. Encourage the Chengdu Angel Mother Fund to “invest early and invest small in hard technology” in the biomedical industry, and provide one-time financial support of up to 1 million yuan for seed-stage and start-up biomedical technology companies receiving angel investment at 10% of the angel investment amount received by the enterprise. Strengthen ties with the National Manufacturing Transformation and Upgrading Fund, the Strategic Emerging Industry Development Fund, etc., and seek investment from major national funds.