Economic development group BioOhio has established a partnership with a similar Chinese organization that it hopes will lead to new business and research opportunities for Ohio life sciences companies.
The pact with the Beijing Pharma and Biotech Center is designed to promote development of biomedical companies that will have offices, research and development facilities, and employment in both Ohio and Beijing, according to a statement from BioOhio.
“China provides vast potential to attract new investment that will create jobs for Ohioans,” said Lisa Patt-McDaniel, Ohio Department of Development director.
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The agreement between BioOhio and the Beijing Center was hammered out at the BIO convention in Chicago in May and formally signed earlier this month, according to the statement.
Two focal points of the collaboration will be medical devices and cardiovascular innovation. Regarding devices, the Chinese group will assist Ohio medical device companies in exploring market opportunities in Beijing and in navigating regulatory and importing requirements.
In the cardiovascular space, the two economic development groups will facilitate introductions and information exchanges between the Cleveland Clinic and other Ohio centers of cardiovascular research with Beijing-based medical research institutions and hospitals.