Biotech company's R&D vital to expansion
Shandong Bestcare Biotechnology, a company specializing in immune protein in the Weifang Hi-Tech Industrial Development Zone, meets new market trends head-on thanks to its research and innovation capabilities.
The company, established in 2010, focuses on developing immune protein for animals such as sea cucumbers, foxes and fish.
Liu Jinlong, general manager of Bestcare, said that research and development costs will equate to 10 percent of the company's net profit annually in the next few years. The ratio stood at 30 percent during the company's initial stages.
Liu, born in 1962, entered the biotechnology industry in 2008 and launched Bestcare in 2010.
The company has been engaged in immune protein development since its establishment. It was one of the few companies engaged in immune protein development in China at that time, according to Liu.
He said it was very difficult to promote this technology in 2010. However, the positive outcomes resulting from his innovative products supported the company's growth.
"Many aquaculture businesses refused to use my products even though I agreed to supply them immune protein for free," Liu said.