Hangzhou Biopharma Town in Qiantang New Area, Hangzhou [Photo/zj.zjol.com.cn]

The Hangzhou Biopharma Town was recently spotlighted for being home to nine quasi-unicorns in the field of biomedicine, as the city of Hangzhou recently released a list of the city's unicorns and quasi-unicorns.

According to the list, Hangzhou was home to 31 unicorns and 142 quasi-unicorns. Thirteen of the quasi-unicorns were located in Qiantang New Area, nine of which focus on biomedicine and are located in the Hangzhou Biopharma Town.

The nine companies include All Test, Hangzhou DAC Biotech, MinFound, Veritas Genetics, Zhuojian China, Sciwind Biosciences, Denovo Biopharma, Shuchuang Robot, HiFiBiO Therapeutics, and Mirxes.

Entrepreneurs have said they decided on the town due to its comprehensive industrial chain and strong business climate.

"The town is home to a large number of excellent companies," said Lang Qiulei, chairman of Lianchuan Bio, a company that focuses on genetic testing and is located in the biopharma town.

Lang holds an optimistic view of the genetic testing market in China, saying that the country will invest more in public health after the pandemic subsides.

According to officials, the town has set up a large fund in partnership with Chinese and foreign special funds to provide financial support for biomedical companies.

The town also plans to grow China's biopharmaceutical market by stepping up regional cooperation. Officials have said that the Bioengineering and Pharmaceutical Industry League, which brought together a number of biopharmaceutical companies in Shanghai, Zhejiang, Jiangsu and Anhui, has begun operating in the town.

As of April, the town was home to more than 1,000 biopharmaceutical companies. Moving forward, it will work to attract resources from top universities, nurture more innovative projects, and commercialize more research findings.