Shanghai Attracts UK Life Science Firms with Booming Ecosystem
London, UK - November 21st – Shanghai is rapidly becoming a key destination for UK life science companies, highlighted during the recent London Life Sciences Week (November 16-22). A Shanghai delegation, including representatives from the municipal commerce and science commissions and local biomedical firms, showcased the city’s growing capabilities at the Shanghai Biomedical Industry Promotion Conference, hosted by London & Partners and MedCity.
Trade between Shanghai and the UK reached approximately USD 13.7 billion (CNY 97.5 billion) last year, demonstrating a strong existing relationship. Notably, over two-thirds of UK companies operating in China have established their headquarters in Shanghai.
The city is actively strengthening its biomedical industry through its “Five Centers” development strategy, attracting significant talent – nearly half of China’s 5G research professionals, 40% of integrated circuit experts, and a third of AI specialists. This investment is paying off, with Shanghai now ranked among the world’s top 10 life science hubs, transitioning from a manufacturing base to a center for cutting-edge innovation.
“Shanghai’s scalability and clinical resources perfectly complement London’s strengths in basic research and incubation,” explained Ivana Poparic, Head of Cluster Development at MedCity. She noted strong UK interest in leveraging Shanghai as a gateway to the Chinese market.
To facilitate this, MedCity is working with Shanghai authorities and the UK Department for Business and Trade to simplify market entry for UK firms, focusing on establishing offices, R&D centers, and fostering clinical trial collaborations.
The appeal of Shanghai extends to cost-effective and rapid drug development. Ryan Geiser, CEO of biotech startup Axiom Therapeutics, emphasized that “collaboration with Shanghai is an imperative” given the global nature of the pharmaceutical supply chain. Axiom Therapeutics, a London-based company specializing in AI-driven covalent drug development, is already conducting drug tests in Shanghai through local CROs and is considering further expansion, including establishing wet labs and hiring local researchers.