HKSTP Welcomes Forever Cheer Holding’s R&D Headquarters for Groundbreaking Pain Management Drug to Science Park

(Hong Kong, 10 November 2023) – Hong Kong Science and Technology Parks Corporation (HKSTP) announced the official addition of Forever Cheer Holding Limited (Forever Cheer Holding) at Hong Kong Science Park. As the newest member of the Park's biomedical innovation ecosystem, Forever Cheer Holding will focus on conducting clinical research on innovative drugs.

The opening ceremony was attended and witnessed by Ms Lillian Cheong, Under Secretary for Innovation, Technology, and Industry; Mr Albert Wong, CEO of HKSTP; Dr Grace Lau, Head of Institute for Translational Research of HKSTP; Professor Min Zhuo, Chief Scientist of Forever Cheer Holding; and Mr Alex Jiaravanont, Vice President - CT Bright (CP Group).

Ms Lillian Cheong, Under Secretary for Innovation, Technology, and Industry, extended a warm welcome to Forever Cheer Holding at their new home in the Hong Kong Science Park. She noted that a significant number of companies that have joined the Park over the past year operate in the life and health technology sector. Alongside the initiatives highlighted in the Chief Executive's most recent Policy Address to bolster Hong Kong's clinical trials and research capabilities, Ms Cheong believes this will incentivise more enterprises in related sectors to utilise Hong Kong as a springboard for business expansion. This, in turn, will enrich the robustness of the local innovation and technology (I&T) ecosystem.

Professor Min Zhuo, Chief Scientist and Co-founder of Forever Cheer Holding and a Fellow of the Royal Society of Canada, said, “In today's landscape, Hong Kong serves as a vital gateway for innovative Chinese pharmaceutical companies to be able to access the global market. With its strategic location, favourable policies, and remarkable scientific research capabilities, establishing a presence in Hong Kong Science Park is a key part of our globalisation strategy. We will capitalise on this opportunity to fully enable the clinical translation of pioneering neuroscience drugs, truly bringing hope and reducing suffering for patients. Looking ahead, we aspire for Forever Cheer Holding's innovative drugs to span the full spectrum of medical care – from animal health to treating serious human diseases. Our goal is not only to establish a strong foothold in Hong Kong, but also to connect Hong Kong to the global stage as we bring our breakthrough therapies to patients worldwide.”

Forever Cheer Holding, a modern high-tech enterprise, specialises in discovering new therapeutic targets within neuroscience research and developing first-in-class drugs. With over ten global patents, their new drugs span various fields such as pain management, drug addiction, and anxiety and depression; these have patent protection in major countries and regions including China, the USA, Europe, Japan, and Korea. They have also created drugs suitable for both humans and animals that target the inhibition of Adenylate Cyclase (AC1), currently undergoing various stages of clinical trials. Preliminary data suggests these drugs are effective, presenting no significant side effects or risk of addiction. 

Under the leadership of renowned neuroscientist Professor Min Zhuo and Mr Alex Jiaravanont, Vice President - CT Bright (CP Group), Forever Cheer Holding’s research team boasts a wealth of experience in translational research for new drugs.

Forever Cheer Holding is currently conducting numerous clinical trials in mainland China. Their animal analgesic has successfully completed Phase III trials and has filed for drug registration. Medications for cancer pain and neuropathic pain have entered Phase II trials. These efforts aim to provide safe and effective treatment options for patients with brain diseases and raise the standard of local innovative drug R&D.

Leveraging HKSTP’s infrastructure and ecosystem after joining the Park, Forever Cheer Holding will carry out more industrialisation and translational projects on first-in-class neurological drugs, as well as second-generation neurological drugs. It also plans to establish an Asia-Pacific Neuro Science Research and Translation Centre.