China's bioinnovation industry is undergoing a process of gradual upgrade and will be among the world's foremost in the upcoming years, experts said during a recent seminar discussing the prospects and challenges of basic research in China's pharmaceutical healthcare sectors in Shanghai.

Such an upgrade will be possible through not only technological breakthroughs but also other factors such as market, policy, capital and an ecosystem of pharmaceutical innovation that would need to be established by such parties, said experts from academic research, biotechnology, and venture capital fields at the seminar held by Servier BioInnovation Asia.

The government has been paying increasing attention to innovation in basic pharmaceutical healthcare research, and has continuously introduced new policies in this realm, said Liao Maijing, chief business officer of Harbour BioMed (Shanghai) Co Ltd.

Through more early-phase collaborations with academic institutions and hospitals, domestic companies with independent and innovative technologies are aiming to turn more research results into products at a faster pace, broaden their portfolios, and realize business growth with more external cooperation, said Liao.

"Through active collaborative deals, initial public offerings (IPOs) in China and globally, and more capital support, the country's biomedical innovation is gradually forming a positive development ecosystem with policy support, capital availability, and mature models," said Wang Yueyue, managing partner of T-Capital.

Didier Landais, global head of Licensing and Managing Director of Servier BioInnovation, said that the Servier Group is implementing and expanding its bioinnovation network to access the best opportunities for research collaboration, licensing agreements and acquisitions with the world's leading biomedical and life sciences innovation players.

Stephane Mascarau, general manager of Servier China, said, "We look forward to collaborating with the best Chinese biotech innovators to promote the translation of biomedical technologies and clinical research capabilities, and provide better healthcare to Chinese patients."