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HKEX Hosts Biotech Week 2019

Date 29/05/2019

  • HKEX welcomes over 1,000 delegates to its Biotech Week 2019, including Nobel, Turing and Fields Medal winners
  • Hong Kong Chief Executive Carrie Lam delivered opening remarks

Hong Kong Exchanges and Clearing Limited (HKEX) this week is welcoming over 1,000 world renowned scientists, biotech entrepreneurs, investors, technology experts and policymakers to share insights on the biotech industry’s latest developments at its second ever Biotech Summit.

Hong Kong Chief Executive Carrie Lam delivered opening remarks at the Biotech Summit today, welcoming guests and delegates to Hong Kong, now the world’s second-largest biotech funding hub.

“The new listing regime was the most significant revamp of our listing rules in two decades. The ultimate goal, of course, is to encourage research breakthroughs that lead to successful products and flourishing businesses, rewarding investors as well as the biotech companies, while boosting Hong Kong's status as a biotechnology centre,” said Hong Kong Chief Executive Carrie Lam at the Biotech Week’s main event.

HKEX Chairman Laura M Cha affirmed Hong Kong’s commitment to support the biotech industry, “Biotech harnesses the knowledge, creativity, and foresight of human beings through deep research, rigorous application and the adoption of state-of-the-art technology to improve the lives of individuals and communities across the world.  But it has to be properly and adequately funded, with capital that can successfully assess potential and risk, and can price accordingly.  And I can’t think of a more suitable place to do that than Hong Kong.”

Mrs Cha added, “We operate a well-regulated and transparent market that adheres to international standards and best practices.  It has won the trust and respect of issuers, investors and market participants from around the world.”

The Biotech Summit also included a keynote speech on life sciences and biopharmaceuticals in Mainland China, as well as lively panel discussions on the trends in global biotech developments.

HKEX Biotech Week follows the success of the inaugural 2018 Biotech Summit, just as Hong Kong implemented new Listing Rules to welcome pre-revenue biotech and life sciences companies. A year since the start of the new regime, ten biotech companies, including seven pre-revenue biotech companies, have listed in Hong Kong markets, raising a total of $33.8 billion.

“In a world where the population continues to grow, and in many places age at an unprecedented pace, how we fund, support and execute our drug development and healthcare provisions will be defining,” said HKEX Chief Executive Charles Li.

“And Hong Kong – at the confluence of East and West, at the doorstep of the world’s second largest economy – is the natural home for facilitating a biotech community that can help address some of these pressing needs.”

Other highlights of the week include a science day on 28 May, with prominent academics sharing the latest trends in scientific research, and discussing how to develop Hong Kong into an innovation and biotech hub.

Deep-dive workshops are planned on 30 May to enable more in-depth discussions ranging from biotech valuations to biotech investment strategies.  HKEX is throughout the week also facilitating introductory meetings between biotech companies and potential investors.

Photo of Biotech Week 2019 (Laura Cha)_s

HKEX Chairman Laura M Cha welcomes delegates and guests to the second HKEX Biotech Summit.

Photo of Biotech Week 2019 (HKCE Carrie Lam)_s

Hong Kong Chief Executive Carrie Lam notes the development of biotechnology in Hong Kong in her opening remarks.

Photo of Biotech Week 2019 (Charles Li)_s

HKEX Chief Executive Charles Li notes the growing importance of Hong Kong as a fund raising centre for Biotech industry in his keynote speech.

Photo of Biotech Week 2019_s
 
A lively discussion during one of the panels.