HKSTP Signs Strategic MOU with Shanghai Pharmaceuticals Holding and Shanghai HealthCare Capital to Drive Biomedical Innovation

Photo 1: Albert Wong, CEO of HKSTP (front row, middle), Cho Man, President and Executive Director of Shanghai Pharmaceuticals Holding (front row, left) and Liu Dawei, President of Shanghai HealthCare Capital (front row, right) signed the MoU to boost collaboration and development in the biomedical sector, reinforcing Hong Kong as a global I&T hub.

(Hong Kong, 5 August 2022) - Hong Kong Science and Technology Parks Corporation (HKSTP), Shanghai Pharmaceuticals Holding (SPH) and Shanghai HealthCare Capital (SHC) have signed a strategic memorandum of understanding (MoU) to support collaboration and development of biomedicine to enhance Hong Kong’s status as an international I&T hub.   

HKSTP has been in close discussion with SPH and SHC 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 SPH representatives 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-aging, gene and cell therapy, and messenger RNA (mRNA) / small interfering RNA (siRNA). A fund will also set up with HKSTP to support collaboration across drug discovery, innovation treatment and other clinical aspects to accelerate incubation and translation of basic biomedical research in Hong Kong, advancing the city’s mission to be an international I&T hub.

Albert Wong, CEO of HKSTP, said: “HKSTP is deeply honoured to have the privilege of President Xi Jinping’s visit at the Science Park during the celebration of the 25th anniversary of Hong Kong's return to the Motherland. His recognition of the Hong Kong’s I&T achievements are a significant boost to the development of our I&T ecosystem. We will seize the opportunities under the 14th Five-Year-Plan and the Greater Bay Area to reinforce collaboration with different sectors. The collaboration with SPH and SHC will amplify Hong Kong’s R&D strengths and start a new chapter for the city’s biomedical technology development. With Hong Kong being Asia's largest and the world's second largest biotech fundraising hub, we will continue leveraging Hong Kong’s unique platform and advantages in research capability and clinical resources to accelerate technologies and deliver world-class biotech innovation for the city.”

Cho Man, President and Executive Director, Shanghai Pharmaceuticals, said: “Building on the exceptional biomedical foundations and R&D capabilities of Hong Kong, our three companies will leverage our 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. By forming an ‘Innovation Alliance’ with the government sector, tertiary education institutions, the Science Park, pharmaceutical companies and capital markets, we will scale up the ecosystem with even more effective incubation and translation of basic biomedical research in Hong Kong.”

Liu Dawei, President, Shanghai HealthCare Capital, said: “The 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. The strategic co-operation with HKSTP and SPH will effectively combine our 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.”