Bayer Co.Lab, a global life sciences incubator network by German multinational company Bayer, has announced the launch of Bayer Co.Lab AdVenture, its inaugural global platform connecting with venture capital partners.

At an event in Shanghai to mark the network's anniversary in China, it also announced the induction of two new Chinese biotech startups into the network.

These moves signify the company's open innovation strategy and reinforce its commitment to deepening its roots in the country while fostering global connections.

First launched in China, Bayer Co.Lab AdVenture connects residents of the network with leading venture capital firms, accelerating access to global financing and investment networks for these high-potential biotech startups, and injecting new momentum into their growth trajectories, the company said.

The inaugural partners of Bayer Co.Lab AdVenture are Shanghai Industrial Investment Capital, Legend Capital, IDG Capital, and Bayland Capital. Drawing on their deep investment expertise and strong local networks, these firms will support the resident startups with strategic industrial insights and curated investment opportunities.

At the anniversary event this week, Bayer Co.Lab welcomed Shanghai-based Nutshell Therapeutics and OTR Therapeutics as new residents, expanding its China resident base to seven, and strengthening an innovation cluster across small molecules, nucleic acids, cyclic peptides, antibody platforms, gene editing, and AI-enabled drug discovery.

Joining the incubator network means that the local firms will obtain end-to-end support across the value chain, said Juergen Eckhardt, head of business development and licensing at Bayer's pharmaceuticals division.

"These Chinese startups will gain comprehensive support covering R&D, clinical translation, and industrialization, enhancing their capacity for original innovation in cutting-edge fields," he said, adding that the company is witnessing China's emergence as a leading source of biopharma breakthroughs with global impact.

"Moving forward, Bayer will continue to deepen collaborations with local innovators and partners, driving transformative innovations to address global health challenges and improve outcomes for patients locally and worldwide," he said.

In May, Bayer Co.Lab was designated as a group open innovation center by Shanghai's Pudong New Area, cementing its role as a core partner in building the city into a world-class biopharmaceutical innovation hub.

With the Healthy China 2030 strategy gaining momentum, the country's biopharmaceutical sector is shifting from being a follower to that of a leader in innovation.

Industry observers said that China accounts for roughly 30 percent of the global total of innovative drugs in research and development, with advanced modalities, such as antibody-drug conjugates, bispecific antibodies, and cell and gene therapies, receiving increasing international recognition.

zhouwenting@chinadaily.com.cn