Core Viewpoint - The establishment of the Vi vo Ac c e l e r a t or by Vi vo Ca pit a l aims to create a new paradigm for innovative drug development through global collaboration, leveraging China's advantages in preclinical and clinical stages to accelerate the growth of global biotech companies [2][4][12]. Group 1: Overview of Vi vo Ac c e l e r a t or - The Vi vo Ac c e l e r a t or is designed to support biotech companies in drug development by utilizing Vi vo's unique ecosystem resources to identify high-quality projects at various stages of drug development [2][4]. - Vi vo Ca pit a l has invested in over 430 companies globally over nearly 30 years, indicating a strong track record in the biotech sector [2][8]. Group 2: New Business Model - The traditional VIC model, which involves collaboration between venture capital (VC), intellectual property (IP), and contract research organizations (CRO), is facing challenges due to geopolitical risks and rising costs in drug development [4][12]. - The Vi vo Ac c e l e r a t or aims to address these challenges by leveraging China's market resources and efficiency to promote the rapid development of innovative and first-in-class drugs while ensuring IP protection [4][5]. Group 3: Operational Mechanism - The accelerator will select high-potential biotech projects globally, often from thousands of candidates, and provide them with necessary support, including IP strategy and clinical development consulting [5][6]. - Projects will be structured as independent companies to ensure clear IP ownership and mitigate the risk of IP leakage, with stakeholders holding equity in the new project companies [5][6]. Group 4: Market Trends and Opportunities - The Chinese biotech industry is experiencing a recovery, with a shift in focus towards truly innovative assets rather than me-too or me-better drugs, reflecting a significant change in the investment landscape [12][13]. - The proportion of assets from China in MNC business development transactions has increased from around 5% five years ago to over 30% in 2024, indicating growing international recognition of Chinese drug development capabilities [13][14]. Group 5: Future Challenges - Despite the advantages, the Chinese biotech sector still faces challenges such as knowledge iteration, talent shortages, and limitations in drug development tools and raw materials, necessitating ongoing efforts from the entire industry [14].