We are creating some awesome events for you. Kindly bear with us.

Driving Biomedical Innovation in Hong Kong

Image Credits: HKSTP, Press Release

Hong Kong Science and Technology Parks Corporation (HKSTP), a pharmaceutical company and a healthcare venture capital firm have signed a strategic memorandum of understanding (MoU) to support the collaboration and development of biomedicine to enhance Hong Kong’s status as an international I&T hub.

HKSTP has been in close discussion with the two firms for an in-depth collaboration since early this year and subsequently reached a consensus on the MoU terms. The MOU signing ceremony was hosted during the visit of representatives from the pharmaceutical company to the Science Park in August.

The partnership between the three parties in the MoU means a collective effort to co-incubate and co-invest in start-up ventures, enhance collaboration in clinical trials and provide support to contract research organisations (CRO) and contract development manufacturing organisations (CDMO) in areas including autoimmune diseases, anti-ageing, gene and cell therapy, and messenger RNA (mRNA) / small interfering RNA (siRNA).

A fund will also be set up with HKSTP to support collaboration across drug discovery, innovation treatment and other clinical aspects to accelerate the incubation and translation of basic biomedical research in Hong Kong, advancing the city’s mission to be an international I&T hub.

The CEO of HKSTP stated that the Park is will seize the opportunities under the 14th Five-Year Plan and the Greater Bay Area to reinforce collaboration with different sectors. The collaboration with the two industry partners will amplify Hong Kong’s R&D strengths and start a new chapter in the city’s biomedical technology development.

With Hong Kong being Asia’s largest and the world’s second-largest biotech fundraising hub, Hong Kong’s unique platform and advantages in research capability and clinical resources will continue to be leveraged to accelerate technologies and deliver world-class biotech innovation for the city, he added.

The President and Executive Director of the pharmaceutical company stated that building on the exceptional biomedical foundations and R&D capabilities of Hong Kong, the three parties will leverage their collective advantages and vast resources to collaborate in areas such as incubation and translation of research projects, clinical trials, CRO platforms and provide support to the industry.

He noted that by forming an ‘Innovation Alliance’ with the government sector, tertiary education institutions, the Science Park, pharmaceutical companies and capital markets, the ecosystem will be scaled up with even more effective incubation and translation of basic biomedical research in Hong Kong.

The President of the venture capital firm noted that the company’s vision of Shanghai HealthCare Capital is to build a biomedical innovation investment platform that is based in Shanghai and Hong Kong, connecting with the Yangtze River Delta, while exploring the international market.

He added that the strategic cooperation between the three parties will effectively combine their strengths and develop a translational ecosystem for early R&D products with the government sector, tertiary education institutions, the Science Park, capital markets and corporations, driving state-of-the-art biotechnologies from Shanghai and Hong Kong to the global market.

The global biotechnology market was valued at US$852.88 billion in 2020 and is expected to increase to approximately US$3.44 trillion by 2030, growing at a CAGR of 17.83% during the forecast period.

Key factors driving the market include favourable government policies, the roll-out of new and advanced products, robust investment in the biotechnology sector, and rising demand for funding through alliance investment in start-up biotechnology companies for adopting new and advanced products are contributing to market growth.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend