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

HKSTP Companies Merge to Boost HK’s Healthcare Tech

Image Credits: HKSTP, Press Release

The Hong Kong Science and Technology Parks Corporation (HKSTP) announced recently that a leading cancer solution provider in Asia has merged with a lung cancer diagnostics company in Hong Kong and Thailand; both are park companies of HKSTP and are located in the Hong Kong Science Park. The merger is set to create an integrated oncology diagnostic powerhouse in Asia and unleashes the global potential of healthcare technology (health-tech) in Hong Kong, the Greater Bay Area and beyond.

The next-generation oncology diagnostic powerhouse will offer a wide range of innovative and state-of-the-art products for both tissue and liquid-based tests, multiple diagnostic technology platforms including NGS, digital PCR and gene chips. The portfolio also includes services covering cancer types at all different stages in clinical applications as well as assisting pharmaceutical companies in companion diagnostics development and drug discovery.

According to recent cancer statistics, there were an estimated 19.3 million new cancer cases and 9.9 million cancer deaths that occurred worldwide in 2020, among which 49.3% of all cases and 58.3% of cancer deaths are estimated to have occurred in Asia.

The combined group has four wholly-owned laboratories, two in Hong Kong, one in Taipei and one in Bangkok, among which three (Hong Kong and Taipei) are CAP-accredited. The group also has a CAP-accredited laboratory in Kanagawa under a joint venture with a medical equipment company based in Japan as well as one more newly formed laboratory in Taipei under another joint venture a medical technology manufacturer in Belgium on IHC/Flow Cytometry.

The CEO of the leading cancer solution provider in Asia stated that the union of ACT Genomics and Sanomics will significantly broaden our horizon in terms of product offerings, business strategy and vision. The combined group will be better able to take advantage of our respective clear leadership positions and form a next-generation oncology diagnostics powerhouse with a keen devotion to ESG in Asia, he noted.

The Chairman of the lung cancer diagnostics company stated that their team is ready to make meaningful contributions to the enlarged group with their technical expertise, especially in the field of lung cancer, as well as firsthand clinical experience. The synergy and combined resources will enable them to provide more comprehensive solutions and better services to clinicians and put patients first. This merger will enable us to further extend our reach to more patients and pharmaceutical companies in further geographies.

HKSTP awarded both companies with Elite Program funding. On top of the solid endorsement given by industry experts, the grants have been fully used in Research & Development which is the core value of the enlarged group’s culture in technology excellence.

The CEO of HKSTP noted that as the Park approaches 20 years of leading innovation in Hong Kong, they will continue to forge the strongest I&T ecosystem to support all park companies grow and thrive. The merger of two health-tech pioneers in Science Park signifies the continuous growth of a vibrant ecosystem and health-tech market.

With the government’s support and new infrastructure and talent in place, Hong Kong is primed for lift-off as health-tech businesses expand and spearhead development in the Greater Bay Area and beyond, he added.

Send this to a friend