magAssist Among Exclusive 17 Selected Enterprises in Suzhou

The Suzhou Municipal People's Government's Industrial and Informatization Bureau recently released the 2022 list of potential landmark enterprises for incubation in the biopharmaceutical industry. The list was made available to the public from May 18 to May 26, 2023. magAssist is one of the 17 selected enterprises in the city.

The selection of potential landmark companies in the biopharmaceutical industry in Suzhou is determined by the criteria outlined in the Three-year Action Plan (2021–2023) for Strengthening and Supplementing the Biopharmaceutical and Health Industry Chain in Suzhou (SWB [2021] No. 14). Each year, around 15 biopharmaceutical enterprises are chosen for key support in the broader Suzhou area. These selected companies receive targeted assistance from relevant departments and preferential support from municipal-level special funds for establishing advanced manufacturing bases. Their products are given priority consideration for inclusion in the Catalog for the Promotion and Application of Excellent Innovative Products in the Biopharmaceutical and Health Industry of Suzhou. Being included in the list of potential landmark companies indicates the enterprise's advanced technology, innovation capabilities, and notable competitive advantages in specific fields, positioning them as leaders of innovation and development.

To date, magAssist has earned several honors. These include being identified as a potential unicorn company in both Jiangsu Province and China, participating in key national industry technology R&D projects under the guidance of Jiangsu Province's policy guidance program, contributing to the joint funding of projects of the Jiangsu Medtech Innovation Hub, and being recognized as a unicorn incubation company in Suzhou. Additionally, magAssist has been acknowledged for its leadership in entrepreneurship and innovation in Gusu District and Suzhou New District.