Hong Kong biotech research and development paves the way for global healthcare innovation
Panellists say Hong Kong excels in biotech research, but needs to attract more talent and reassess its regulatory strategy
Prenetics shows the future of healthcare is intertwined with that of biotech, as they display their new at-home rapid detection system for infectious diseases
Developments in the biotechnology industry have led to many breakthrough products and healthcare solutions over the past several decades. Many biotech companies, researchers, and healthcare industry leaders in Hong Kong are voicing their opinions about the importance of supporting this growing market.
[Left to Right] Clark Cahill, Manager of Events and Conferences at SCMP, Sabrina Chan, Senior Executive Director at HKAPI, Dr. Shawn Leung, Founder, Chairman & CEO of SinoMab BioScience, and Stanley Sy, Chief Executive Officer at Sanomics presenting their perspectives on whether the biotechnology space will be changing the landscape of Hong Kong healthcare.
The South China Morning Post recently hosted two discussions as part of the SCMP Conversations: Healthcare series. Topics discussed included the future of biotech in Hong Kong and the Greater Bay Area (GBA), as well as the positive effect that Hong Kong-based biotech companies such as Prenetics can have on global healthcare innovation.
One of the panellists, Founder & CEO of SinoMab BioScience, Dr Shawn Leung, stated that despite Hong Kong being ahead of the curve in terms of science, “a permissible environment” needs to be created so people with ideas can “come develop and get funding in Hong Kong.”
Advertisement
Founder & CEO of SinoMab BioScience, Dr Shawn Leung, stated that despite Hong Kong being ahead of the curve in terms of science, “a permissible environment” needs to be created so people with ideas can “come develop and get funding in Hong Kong.”
Sabrina Chan, Senior Executive Director of Hong Kong Association of Pharmaceutical Industries, said “[Hong Kong] has some strategic resources,” but speculated on whether or not “we use [them] well,” or “leverage [them] to develop the biotech sector in Hong Kong.” Reconsidering how the city’s resources are used and reviewing the regulatory regime currently in place is likely necessary to grow the biotech industry in Hong Kong and the surrounding region, it was suggested.
Sabrina Chan, Senior Executive Director of Hong Kong Association of Pharmaceutical Industries, said “[Hong Kong] has some strategic resources,” but speculated on whether or not “we use [them] well,” or “leverage [them] to develop the biotech sector in Hong Kong.”
“We don’t have any platform for the talent in Hong Kong to execute their ideas,” said Stanley Sy, CEO of Sanomics. In other words, despite the groundbreaking science occurring in many universities and research centres in Hong Kong, experts and professionals in the biotech industry don’t have many opportunities to bring their innovative ideas to life.
Advertisement
Chan mentioned the focus needs to be on “how to facilitate [talent] to settle in Hong Kong and support Hong Kong” long term, a feat that could be supported by policy changes at government level.
Also discussed was another challenge currently facing the biotech industry; that it does not have its own regulation system. This makes progress difficult, because “without a regulation system, investors will not put their money [towards biotech]. No money [means] no platform. No platform [means] no talent and no product,” said Sy. The lack of official regulatory procedures also tends to cause uncertainty in the general population regarding the safety of the medication, products, and healthcare solutions that are developed.
Stanley Sy, CEO of Sanomics mentioned how “we don’t have any platform for the talent in Hong Kong to execute their ideas.”
Chief of staff at the South China Morning Post, Joey Liu, spoke with Danny Yeung, CEO and Co-founder of Prenetics Group. Now going public on the Nasdaq Stock Market following a merger with Artisan Acquisition Corp, Prenetics is known for its innovative work in genetic testing and its role in providing and processing Covid-19 tests.
Advertisement
Danny Yeung, CEO and Co-founder of Prenetics Group discussed how they are trying to ensure that “any new types of technology and innovation [will be] made accessible to all,” because their ultimate goal is to “bring healthcare closer to the patient.”
Prenetics is responsible for new groundbreaking products such as rapid detection systems for infectious diseases and at-home painless blood collectors for easier blood analyses. They are trying to ensure that “any new types of technology and innovation [will be] made accessible to all,” Yeung explained, because their ultimate goal is to “bring healthcare closer to the patient.” Accordingly, two biotech trends worth monitoring are rapid diagnostics and at-home testing.
SCMP Events hosts a number of in-person, virtual, and hybrid events across Hong Kong, Southeast Asia, and the United States. Powered by a diverse line-up of speakers, sponsors, and audience members, over 16,000 people from more than 60 countries attend our events each year. Our impact conferences bring top-level government officials, business leaders, and emerging opinion influencers to the stage to discuss the pressing political, diplomatic, business, and economic issues of our times.
![Danny Yeung, CEO and Co-founder of Prenetics Group discussed how they are trying to ensure that “any new types of technology and innovation [will be] made accessible to all,” because their ultimate goal is to “bring healthcare closer to the patient.”](https://cdn.i-scmp.com/sites/default/files/styles/1200x800/public/d8/images/2021/11/03/healthcare_2_-_danny.png?itok=k34Y9f1h)
![[Left to Right] Clark Cahill, Manager of Events and Conferences at SCMP, Sabrina Chan, Senior Executive Director at HKAPI, Dr. Shawn Leung, Founder, Chairman & CEO of SinoMab BioScience, and Stanley Sy, Chief Executive Officer at Sanomics presenting their perspectives on whether the biotechnology space will be changing the landscape of Hong Kong healthcare.](https://img.i-scmp.com/cdn-cgi/image/fit=contain,width=1024,format=auto/sites/default/files/d8/images/2021/11/03/biotech.png "[Left to Right] Clark Cahill, Manager of Events and Conferences at SCMP, Sabrina Chan, Senior Executive Director at HKAPI, Dr. Shawn Leung, Founder, Chairman & CEO of SinoMab BioScience, and Stanley Sy, Chief Executive Officer at Sanomics presenting their perspectives on whether the biotechnology space will be changing the landscape of Hong Kong healthcare.")
![Sabrina Chan, Senior Executive Director of Hong Kong Association of Pharmaceutical Industries, said “[Hong Kong] has some strategic resources,” but speculated on whether or not “we use [them] well,” or “leverage [them] to develop the biotech sector in Hong Kong.”](https://img.i-scmp.com/cdn-cgi/image/fit=contain,width=1024,format=auto/sites/default/files/d8/images/2021/11/03/healthcare_2_-_sabrina.png "Sabrina Chan, Senior Executive Director of Hong Kong Association of Pharmaceutical Industries, said “[Hong Kong] has some strategic resources,” but speculated on whether or not “we use [them] well,” or “leverage [them] to develop the biotech sector in Hong Kong.”")
![Danny Yeung, CEO and Co-founder of Prenetics Group discussed how they are trying to ensure that “any new types of technology and innovation [will be] made accessible to all,” because their ultimate goal is to “bring healthcare closer to the patient.”](https://img.i-scmp.com/cdn-cgi/image/fit=contain,width=1024,format=auto/sites/default/files/d8/images/2021/11/03/healthcare_2_-_danny.png "Danny Yeung, CEO and Co-founder of Prenetics Group discussed how they are trying to ensure that “any new types of technology and innovation [will be] made accessible to all,” because their ultimate goal is to “bring healthcare closer to the patient.”")