German pharmaceutical giant Bayer has announced it will establish an open innovation center in Beijing Economic-Technological Development Area (Beijing E-Town).

The announcement was made at the 2024 International Biomedical Industry Innovation Conference Beijing Forum.

According to Dr. Sebastian Guth, chief commercial officer of Bayer's Prescription Medicines Division, the center will be dedicated to building a globally leading concept validation platform and a clinical trial information data operation platform. It will continuously introduce innovative drugs in areas such as cardiovascular diseases, oncology, and drive innovative solutions in women's health and ophthalmic diseases.

"Bayer has a history of over 140 years in China and has been actively involved in China's vibrant development. The opening of the Bayer E-Town Open Innovation Center is a significant milestone in our commitment to promoting medical innovation in China," Guth said.

"The development of the biopharmaceutical industry in China has shown remarkable growth, rapidly becoming one of the world's leading innovation centers. The emergence of new quality productive forces in China also provides new perspectives for the commercialization and operational innovation of the healthcare industry. Through the Bayer E-Town Open Innovation Center, we aim to further stimulate innovation and turn promising discoveries that have the potential to transform healthcare in China and globally into reality."

Bayer's connection with Beijing E-Town dates back 30 years. In 1995, Bayer established its presence in Beijing E-Town, becoming the first world-class pharmaceutical company in the area.

Over the course of three decades, Bayer has grown to become the only biopharmaceutical benchmark enterprise in Beijing with an annual output value exceeding 10 billion yuan ($1.38 billion) for thirteen consecutive years. It is also one of the first six foreign-funded enterprises to settle in the BioPark in Beijing E-Town.

In the future, Bayer E-Town Open Innovation Center, which is based in Beijing and radiates globally, will fully leverage the advantages of a multinational pharmaceutical industry leader to take the initiative in the new round of industrial upgrading. Meanwhile, Beijing E-Town will adhere to its goal of building an open and inclusive industrial ecosystem, creating a world-class business environment to help Bayer develop faster and better in Beijing.