基金风险容亏率最高50%、投资奖励最高500万，无锡出台生物医药产业金融支持措施

Group 1: Policy Measures Overview - The policy measures aim to alleviate concerns for investment institutions by providing compensation for initial investment losses, encouraging increased investment in startups [1][2] - In 2023, the Chinese biopharmaceutical sector has faced a "capital winter," with a 26.75% year-on-year decrease in financing events and a 10.4% decline in total financing amount to 73.697 billion yuan [1] - The measures focus on five areas: investment, loans, bonds, insurance, and services [1] Group 2: Fund Initiatives - The policy proposes leveraging a 4 billion yuan special mother fund for the biopharmaceutical industry, establishing specialized funds for near-commercialization and mergers and acquisitions, particularly targeting innovative drug projects in clinical phases II and III [2] - A maximum reward of 5 million yuan is available for funds investing in non-listed biopharmaceutical companies in Wuxi, with additional incentives for seed and startup investments [2] Group 3: Financing and Support - The measures encourage the issuance of technology innovation bonds and support banks in developing biopharmaceutical credit products, with up to 1 million yuan in interest subsidies for special loan products [3] - There is a focus on enhancing post-investment support services to improve project survival rates, including assistance with clinical trials and market expansion [3] Group 4: NewCo Model - The NewCo model allows domestic biopharmaceutical companies to separate specific pipeline assets and establish independent companies abroad, facilitating overseas business expansion and future financing opportunities [4] - The model has been utilized by companies like Heng Rui Medicine and Kangnuo Ya to achieve significant overseas transactions, with total investments exceeding 3 billion USD in 2024 [3][4]