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The Hong Kong Science and Technology Parks Corporation (HKSTP) saw the establishment of a new international research and development (R&D) centre by a leading global biopharmaceutical entity at the Hong Kong Science Park. This development highlights the company’s commitment to advancing cancer treatment and fostering biotechnological innovations in Hong Kong, the Greater Bay Area, and beyond.
The Secretary for Innovation, Technology and Industry; CEO of HKSTP; Chief of Staff at HKSTP; Head of the Institute for Translational Research (ITR) at HKSTP; Chairman of the biopharmaceutical entity; CEO and Chief Scientific Officer (CSO) of the entity; Head of R&D and Chief Medical Officer of the entity, alongside other notable representatives and guests from both HKSTP and the biopharmaceutical firm were all in attendance.
Founded in 2000, this biopharmaceutical company has evolved from a pioneer in novel drug discovery to a key player in China’s biotech industry. With listings on the Hong Kong Stock Exchange, Nasdaq, and the London Stock Exchange, Hong Kong remains the company’s headquarters and plays an increasingly significant role in fuelling its future growth.
The Secretary for Innovation, Technology and Industry stressed the Hong Kong Government’s unwavering commitment to enhancing the region’s R&D capabilities, particularly in biotechnology. He highlighted Hong Kong’s robust research capabilities, top-notch universities, advanced research facilities, and vibrant ecosystem as key factors that make the city an ideal destination for biotech companies. The congregation of more biotech firms in Hong Kong will create synergies, further strengthening the city’s advantage in the life and health technology industry.
The biopharmaceutical company plans to focus on translational research, AI-driven drug discovery, and the development of therapeutics for novel targets and diseases with high unmet medical needs. By leveraging HKSTP’s thriving biotech ecosystem, which comprises over 270 companies, the firm is set to drive groundbreaking pharmaceutical interventions.
The CEO of HKSTP expressed excitement about the company’s establishment at Science Park. He noted that HKSTP’s extensive network connects local companies with a global array of thousands of investors and partners, accelerating the development and deployment of innovative therapies. With the biopharmaceutical firm’s expertise and commercialisation capabilities, the collaboration will provide invaluable insights to local biotech firms and benefit the broader community.
The Chief Executive Officer and Chief Scientific Officer of the biopharmaceutical entity stated that the firm has built a deep pipeline with multiple products approved in China and globally, including two in Hong Kong. The establishment of the Research Centre in Hong Kong marks a new chapter for the company, representing an important step to accelerate and expand its global research and development activities. The CEO expressed gratitude for the support from the Hong Kong Special Administrative Region (HKSAR) government and HKSTP and looked forward to future collaborations to bring more innovative therapies to patients worldwide.
In January 2024, the biopharmaceutical company became the first to obtain marketing approval through the HK Government’s “1+” mechanism for its drug ELUNATE® (fruquintinib), an oral therapy for metastatic colorectal cancer. This milestone underscores the firm’s leadership within the sector, offering hope and a new treatment option for local patients.
The state-of-the-art R&D centre at Science Park, combined with the company’s comprehensive experience and capabilities, is expected to propel the growth of local innovations. This will further bolster Hong Kong’s status as an international hub of biotechnology and life sciences.
