Specialist business support company helps biotech companies do business in China

Posted: 18/08/2011

A company that provides a portal for trade between the UK and China has signed a Memorandum Of Understanding (MoU) with a major University in China.

Newcastle based Dream Laboratory recently visited China to sign an MoU agreement with Qingdao University of China as well as set up a Chinese office in the region. Whilst there they also took part in a UK Trade & Investment (UKTI) trade mission with other UK companies keen to trade with China.

The company, which provides business support services for biotech and healthcare companies wishing to trade between China and the UK, signed the agreement which enables the University and North East businesses to cooperate with technology transfer and joint research. The agreement gives Dream Laboratory access to research projects in the fields of drug discovery and development and traditional Chinese medicine being undertaken at the University. Whilst on their visit, Dream Laboratory also formalised their contract to open an office in Qingdao, China. Qingdao was the venue for the 2008 Olympic sailing regatta but is probably best known in the West as the home of Tsingtao beer. The city has a population of over 8 million and has a thriving biotech community, which was the main reason for choosing this location.

The second part of their trip took in a trade mission organised by UKTI to Zhuzhou, Changsha and Shanghai. While there, they visited several science and technology parks and attended pre-arranged meetings with biotech companies, traditional Chinese medicine and pesticide companies. The trade mission helped North East based companies including Easibathe and Ford Components, who also participated in the trade mission, to make contacts in different territories.

Dream Laboratory’s main strengths lie in ‘matchmaking’ businesses in the UK to businesses in China, assessing their ‘real’ capabilities and determining their core offering. Once they have done this they match the companies up so that they can supply to or collaborate with each other as there is a common interest.

Dr Glen Kemp, Director of Dream Laboratory and former manager of the North East Proteomics Facility (NEPAF) is keen to highlight the opportunities in the Chinese market:

“A great deal of companies in the North East could do business in China. Currently, trends in China are based around the environment and renewable energy, and already there’s extensive work in place for the implementation of solar and wind powered LED street lights. China has the money and determination to see these initiatives through.

With a population of over 1 billion, and a fondness for UK brands and companies, China provides huge potential for UK companies wishing to trade there.”

Most of the Dream Laboratory team is from China, and they have a great deal of insight into the market there. The Chinese market is very interested in diagnostics and medical devices from the UK, and they will pay a premium for quality products in these areas.
Dr Wei Chen, Co-Founder of Dream Laboratory comments:

“I grew up in China and I understand how business is done, and it’s very different to the UK. There are certain rules, relationships that must be established and etiquette to follow. We understand all this and coupled with our knowledge of healthcare and life science and a carefully honed database of Chinese companies and what their needs are, we deliver fantastic results for our clients.”

One of the companies Dream Laboratory has worked with is a global clinical trials company which is looking to open an office for 200 employees in China. In addition to this they are working with universities, hospitals and biotech and healthcare companies throughout the UK and Ireland.
 

Dream Laboratory is dedicated to becoming a leading biotechnology transfer company for UK and Chinese pharmaceutical companies and research institutes.

Visit www.dream-laboratory.com for more information.