The 2022 International Conference on Pharmaceutical Innovation and Development was held at the Yantai Bajiao Bay International Convention and Exhibition Center in the coastal city of Yantai in East China's Shandong province on Aug 18, and successfully attracted a total of 16 projects in the biomedical industry.

These projects, with a combined investment of 39.4 billion yuan ($5.77 billion), include Laiyang Sinopharm High-end Pharmaceutical Industrial Park, the MabPlex Biopharmaceutical Industrialization Base in Huang-Bohai New Area, and Penglai Aohai Great Health Industrial Park.

The biomedical industry was listed as one of Yantai's key advantageous industries, and in recent years, the city has rolled out a slew of supportive policies to promote the high-quality development of the biomedical industry. Over years of development, the city has cultivated a batch of promising biomedical enterprises, such as Luye Pharma Group, RemeGen Group, and Yantai Zhenghai Bio-tech Co, which have made breakthroughs in independently developing products.

RemeGen has developed an antibody conjugated drug (ADC), which has proven to have strong effects for treating locally advanced or metastatic gastric cancer, and Luye Pharma Group made China's first globally registered innovative microsphere preparation.

Yantai will spare no efforts in the coming years to speed up the development of the "blue drugstore" project, and make breakthroughs in extending the industrial chain of the biopharmaceutical industry in a bid to build an innovation ecosystem for the biomedical industry, and promote deeper integration of industrial, innovation and supply chains.

The 2022 International Conference on Pharmaceutical Innovation and Development is held at the Yantai Bajiao Bay International Convention and Exhibition Center on Aug 18. [Photo/Dazhong News]