magAssist Made it into the Second KPMG China Biotechnology Enterprises Top 50 List

Recently, to further propel the innovative development and collaborative exchange in the field of biotechnology in China, KPMG China hosted the prestigious "Second Biotechnology Enterprises Top 50 List" award ceremony simultaneously in Beijing, Shanghai, and Shenzhen. magAssist was honored to be included among the esteemed companies on the list.

At an event filled with experts and scholars from the industry, KPMG China Vice President, Jie Yang, stated in her opening speech that the national focus aligns with 'Healthy China 2030' and emphasizes a healthier population. The 14th Five-Year Plan and Long-Range Objectives Through 2035 prioritize innovation-driven development, aiming to enhance China's biotech capacity, expedite bioeconomy breakthroughs, and achieve technological autonomy. She expressed delight at the rapid development of innovative biotech enterprises and the emergence of promising ventures.

The summary of the selected enterprises on the list is as follows:

• Regarding the distribution across specific sectors: Biopharmaceutical companies account for nearly half, with medical equipment companies and cell/gene therapy enterprises ranking second and third, respectively.

• Regarding the metropolitan and geographical distribution: Shanghai maintains its leading position on the list, while the number of listed enterprises in Beijing and Suzhou has doubled, demonstrating an impressive performance in the Yangtze River Delta region.

• Regarding the distribution based on the time of establishment: Over 60% of the enterprises have been in existence for more than five years, indicating that the industry has entered a phase of steady and robust development.

• Regarding funding rounds: The most common funding stags are from Series A to Series C, signifying continued interest from capital investors in this sector.