Faced with the world’s largest fitness crisis in a century, the biotech industry flourished the pandemic, as demand for Covid-19 control kits, antivirals and vaccines exploded. Due to its unique advantages, Hong Kong is preferably in a position to capitalize on the expansion of this sector.
Hong Kong is an herbal hotbed for biotechnology, with five universities among the 100 most sensible in the global ranking of QS 2021 universities, and the medical faculties of the University of Hong Kong and the Chinese University of Hong Kong are among the 50 most sensible. overall in the same ratings. The Hong Kong Innovation
“HKSTP has provided us with abundant in our early years as a small-scale company and provided us with a foreign platform to drive our success,” says Kelvin Chiu, CEO of Sanwa BioTech, a state-of-the-art diagnostic solutions company with a platform of complex microfluidic technologies. in Asia Chiu says HKSTP and HKITC generate startups with various financing programs, such as the Innovation and Technology Fund, as well as providing world-class services at existing sites and investing in new sites such as The Advanced Manufacturing Center (AMC) at the Tseung Kwan O Industrial Estate, which is scheduled to open in 2022 Sanwa BioTech will base its new production plant on AMC , and Chiu believes that this resolution will help corporate growth by expanding its production capacity to enable it to obtain its diagnostic products in Asia and other markets.
This dynamic design and charitable funding environment have attracted a giant number of foreign companies, who have added ACT Genomics, an Asia-leading built-in biomarker solution for precision cancer control with operations in Taiwan, Japan, Singapore and now Hong Kong. a decision to open a plant in Hong Kong because HKITC and HKSTP “actively sold the biotechnology industry,” said the company’s leading monetary director, Victor Chan. “When we started thinking about creating a popular next-generation sequencing lab in Hong Kong, HKSTP gave us a lot of strength in terms of site readiness, infrastructure and facilities,” Chan adds.
Chan says Hong Kong’s location, at the gates of mainland China and as an integral component of the Great Bay Economic Zone, explains why biotechnology corporations are mass-coming to the territory, not only for the potentially massive market, but also for promoting regional collaboration through the city’s innovation agencies. “HKITC and HKSTP have provided a very exciting environment, both physically and intellectually, for components to interact for new clinical and cutting-edge advances,” he says.
In addition to government support, Hong Kong’s world-class monetary infrastructure is also proving to be a blessing for biotechnology.
In 2018, HKEX allowed qualified biotechnology corporations to be included in the exreplace inventory before generating revenue, and the resulting replacement caused dozens of corporations to go publicly traded, adding Innovent Biologics, CanSino Biologics and Alphamab Oncology. With billions of dollars raised and more and more corporations to register, Hong Kong has become, in less than 3 years, the world’s largest biotech fundraising center after the United States.