Forward Pharma Awarded RMB 7.75 Million by Shenzhen City Fund
The 8th Shenzhen International Biomedical Industry Summit Forum and 2022 Biomedical Industry Week commenced on December 12, 2022, in Pingshan, Shenzhen. Under the theme "Bay Area for Biomedicine Future," the summit brought together over 10 members of the Chinese Academy of Sciences (CAS), more than 40 industry leaders, and representatives from biopharmaceutical companies, service organizations, policy research institutions, and investment firms to discuss key trends in biomedical development. The event featured academic exchanges, policy dialogues, and biotech-investor matching sessions. Keynote speeches were delivered virtually by Dr. Nanshan Zhong, a renowned expert in respiratory and infectious diseases, and Mr. Qin Weizhong, Mayor of Shenzhen.
A series of ceremonies took place during the forum, including the launch of new industry funds, the issuance of industry alliance licenses, the signing of major project agreements, and the inauguration of specialized biopark constructions. During the industrial policy award ceremony, 11 enterprises specializing in biopharmaceuticals and high-end medical devices were recognized for their contributions to Shenzhen’s biomedical sector.
This funding support stems from Shenzhen’s "1+3" biomedical industry policy system introduced in 2020, which comprises the Guiding Opinions on Promoting the Concentration of Biomedical Industry Development in Shenzhen, the Implementation Plan for Shenzhen Biomedical Industry Agglomeration Development (2020 - 2025), the Action Plan for the Development of Shenzhen's Biomedical Industry (2020 - 2025), and the Several Measures for Promoting the Concentration of Biomedical Industry Development in Shenzhen. These measures outline detailed funding incentives, including a phased subsidy scheme supporting domestic clinical trials and drug registration transfers to Shenzhen. For Class 1 chemical drugs, biologics, and traditional Chinese medicines, the policy allows a reimbursement of up to 40% of R&D expenses, with a maximum of RMB 8 million for clinical trial approval. Additional subsidies are provided for the completion of Phase I, II, and III trials, capped at RMB 10 million, RMB 20 million, and RMB 30 million, respectively. The annual maximum support per enterprise is RMB 100 million.
The award underscores Forward Pharma’s achievement in reaching a key regulatory milestone with its innovative drug candidate.
About Forward
Forward Pharma is dedicated to the research and development of innovative therapeutics. The company has built integrated platforms that span the entire drug development cycle - from target validation and drug discovery to early development, translational medicine, preclinical studies, and clinical trials.
Headquartered in Shenzhen, China’s pioneering special economic zone, Forward Pharma also maintains operational and R&D teams in Shanghai and Shenzhen. Over the past seven years, the company has developed a robust pipeline comprising over 10 innovative drugs, focusing on major solid tumors and autoimmune diseases.