Hong Kong – An ideal Location for Biotech and Life Sciences Firms

Boston – Hong Kong’s strategic location, robust intellectual property protection and unique role as a global business and financial center, makes the city an ideal location for biotechnology and life sciences firms, said Director of the Hong Kong Economic and Trade Office, New York, Ms. Anita Chan.

Ms. Anita Chan (right), Johnny Ip(third from the right) paint the eyes of the lion. (Photo by Dan Liu)

Speaking at the Hong Kong Reception at BIO International Convention 2012 in Boston on June 19 (Boston time), Miss Chan pointed out that there are about 300 biotech companies in Hong Kong and the number is rising steadily. Two recent inclusions are Massachusetts firms – Paexcel Corporation and Biogen Idec.

Also present at the reception was a high-powered delegation from Hong Kong. They comprised Chairman of Hong Kong Biotechnology Organisation and Chairman and CEO of Hai Kang Life Corporation, Professor Albert Yu; Chairman of Hong Kong Science and Technology Parks Corporation, Mr Nicholas Brooke and CEO of Hong Kong Science and Technology Parks Corporation, Mr Anthony Tan, as well as a group of prominent Hong Kong industry players and exhibitors.

They are taking part in the convention, which includes a Hong Kong Pavilion that showcased the capability of the city’s biotech industry and its achievements. The organisers of the Hong Kong Pavilion are Hong Kong Biotechnology Organisation, Hong Kong Science and Technology Parks, and Hong Kong Trade Development Council.

Miss Chan pointed out that Innovation and Technology is one of the six new industries that Hong Kong has clear advantages. “We are committed to developing Hong Kong as a knowledge-based economy, making Hong Kong an innovation hub in the region,” she said.

“The Hong Kong government takes a multi-pronged approach in creating a favourable environment, through such efforts as providing a world-class technological infrastructure like the Hong Kong Science and Technology Parks, and offering financial support for R&D and technology transfer through the Innovation and Technology Fund,” she added. The latter has supported over 2,700 projects at a total commitment of around US$820 million.

Hong Kong also has no lack of distinguished life-science researchers, such as internationally acclaimed geneticist Professor Tsui Lap-Chee, who is also the Vice-Chancellor of the University of Hong Kong (HKU); chemical pathology expert, the Chinese University of Hong Kong Professor Dennis Lo; neuroscience researcher, the Hong Kong University of Science and Technology Professor Nancy Ip, and HKU Professor Yuen Kwok-yung who first reported the discovery of the agent causing Severe Acute Respiratory Syndrome, and influenza expert Professor Malik Peiris.

To the conference attendees, Miss Chan said, “We look forward to welcoming more companies and scientists to Hong Kong.” She also urged the participants to visit Hong Kong and explore the opportunities for business, research and collaboration.

BIO International Convention 2012 is the largest global event for the biotechnology industry. It includes keynotes and sessions from key policymakers, scientists, CEOs, and celebrities. The Convention also features the BIO Business Forum, with sessions on biotech trends, policy issues and technological innovations, and the world’s largest biotechnology exhibition – the BIO Exhibition.