500 million yuan per year! BioHarbour Hangzhou Haichen Biopharmaceutical Industrial Park and Hangzhou United Rural Commercial Bank officially launch the “Silver Precinct Establishment Strategic Collaboration”

On the 5th of August, BioHarbour Hangzhou Haichen Biopharmaceutical Industrial Park and Hangzhou United Rural Commercial Bank, Changhe Branch, held a joint ceremony to officially launch the "Silver Precinct Establishment Strategic Collaboration".

In accordance with the established collaboration framework, both parties aim to deepen working relations, investigate new methods of sharing resource, incorporate synergistic know-how, and establish a win-win model that accelerates the development of start-ups in the industrial park.

Weihong Zhou, Vice President of the Changhe Branch of Hangzhou United Rural Commercial Bank, Yangyong Liu, General Manager of Hangzhou Haichen Commercial Management Co., Ltd., Cong Chen, Deputy General Manager of Hangzhou Haichen Commercial Management Co., Ltd., and Shuai Xu, Vice President of Bioclub and Executive Partner of BioHarbour, were in attendance.

As a possible solution to the challenges of capital raising which the resident start-ups commonly encounter, BioHarbour Hangzhou Haichen Biopharmaceutical Industry Park has engaged to establish a commercial partnership which will bring long-term benefits to all involved.

Hangzhou United Rural Commercial Bank has earmarked 500 million yuan of packaged annual financial support to assist the industrial park in its management of resident start-ups, to alleviate financial pain points, thus allowing for start-ups to focus on their core business of innovation. The financial package includes millions of yuan in priority, targeted pre-credit funds to bankroll residents at each unique stage of development (start-up phase, development phase, commercialization phase). In addition, the bank will also provide comprehensive financial consultation and myriad services to residents via the most convenient methods.

These other forms of support include but are not limited to, foreign currency settlement, issuing of bank cards, payroll, capital collection and other aspects of multi-level, multi-disciplinary business collaboration.

The bio-pharmaceutical industry has evolved into a significant growth sector in the development of industries planning in Hangzhou. This collaborative effort signals the intent to provide targeted financial services and support to healthtech start-ups resident in Hangzhou, and to accelerate the pace of development of the sector.

Both parties will work to integrate premier resources in research and development, advanced manufacturing, allied health services and other sector stakeholders in Hangzhou, to collaboratively participate in the advancement of its trillion-dollar healthtech sector.

BioHarbour Hangzhou Haichen Biopharmaceutical Industrial Park

As an industrial park co-established by Hangzhou Haichen Commercial Group and Bioclub, BioHarbour Hangzhou Haichen Biopharmaceutical Industrial Park aims to promote the development of the bio-pharmaceutical industry in Hangzhou, and comprehensively enhance the independent innovation ability and core competitiveness of the bio-pharmaceutical industry.

The total operational real estate covers an area of 32,000 square meters. Building One, which covers 20,400 square meters, will be the production and manufacturing hub, which also incorporates sewage treatment capabilities, shared laboratory space and other infrastructure, is 7.8 meters tall, thus making it suitable as a space for novel drug development, medical device research and development and small-scale pilot testing. Building Three possesses 11,700 square meters which can be utilised as commercial office space.