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Hong Kong Science Park Corporation (HKSTP) celebrated a milestone with the establishment of a strategic partnership between one of its prominent resident companies and the Hong Kong Investment Corporation Limited (HKIC). This collaboration aims to drive innovation across various sectors, including biopharmaceuticals, green technology, and new industrialisation, reinforcing Hong Kong’s position as a global innovation and technology hub.
The Park company, operating at the forefront of artificial intelligence and life sciences, leverages advanced AI to enhance biotechnology research and development. By integrating AI with biotechnology, the company focuses on accelerating the creation of novel proteins for use in pharmaceuticals and enzymes. Earlier this year, the company solidified its presence at the Science Park and announced the launch of its inaugural Innovation Hub in Hong Kong. This hub aims to expand global operations and foster innovation.
HKSTP continues to offer robust infrastructure and professional services, enabling this pioneering company to engage with a wide array of partners and investors. The formal partnership agreement was signed during the International Bio-Computing Innovation Summit, with key figures such as the CEO of HKIC, and the CEO of the Park company, signing the agreement. The event was witnessed by Paul Chan, Financial Secretary of the HKSAR Government.
The establishment of the Innovation Hub marks a significant step towards attracting international innovators and nurturing local talent in the fields of artificial intelligence and life sciences. Distinguished guests participated in the “Light Up” ceremony celebrating this launch.
The CEO of HKSTP expressed his enthusiasm for the collaboration, highlighting the commitment to supporting biotech companies and accelerating the commercialisation of scientific research. He emphasised HKSTP’s role as a ‘super-connector,’ linking local and international industry partners and investors. Wong also noted that this partnership would enable companies to leverage Hong Kong’s robust scientific research capabilities, international connectivity, and strategic location within the Greater Bay Area to access global markets.
The CEO of the Park company underscored the strategic choice of Hong Kong for setting up their first bio-computing innovation hub. Hong Kong’s international status, liberal financial policies, world-class intellectual property system, and data governance were cited as key factors in gaining the trust of multinational customers. Additionally, the availability of AI and biotechnology talent and an innovative academic environment in Hong Kong were highlighted as vital resources. The Innovation Hub aims to serve as a nurturing ground for interdisciplinary talents in information and biotechnology, transforming innovative ideas into practical macromolecule solutions using the company’s large language model for life sciences.
To enhance visibility and industry connections, HKSTP, along with the Park company and other resident companies, participated in BIO 2024, the world’s largest biotech event held in the United States. This event featured the APAC Summit session, showcasing Hong Kong’s strengths and potential in the biotechnology sector to a global audience.
Headquartered in the US, the Park company is among the second batch of strategic enterprises invited by the Office for Attracting Strategic Enterprises (OASES) of the HKSAR Government to set up operations in Hong Kong. By combining AI and biotechnology, the company has developed the ‘xTrimo’ platform, a foundational large language model for life sciences based on protein language. The company recently secured a USD 1 billion partnership with a multinational pharmaceutical giant and is collaborating with over ten commercial partners and more than 200 academic institutions.
HKSTP is dedicated to nurturing the entrepreneurial skills of researchers and scientists, assisting them in translating research into viable products, and fostering a thriving biotechnology ecosystem. Currently, the park hosts over 250 biotech companies, solidifying its role as a pivotal player in the global biotech industry.
