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DAWN of a NEW ERA Page 19 HONG KONG SEPTEMBER 2017 Brought to You by Acknowledgements PUBLISHED IN COLLABORATION WITH: THE EAST-WEST LAND OF THE BIOTECH TCM MEETS BIOTECH PLASMA PIONEER SUPERCONNECTOR UNICORNS? PAGE 42 DENNIS LO IN PROFILE PAGE 14 PAGE 23 PAGE 17 DAWN OF A NEW ERA page 19 HONG KONG SEPTEMBER 2017 Brought To You By Acknowledgements Pharmaboardroom would like to thank: Fanny Law, chairperson, Hong Kong Science and Technology Parks Corporation Cecilia Pang, biotechnology director, Innovation & Technology Commission Albert Cheung-Hoi Yu, chairman, HKBIO Andy Barnett, general manager, Roche Dorine Leung, general manager, Novartis As well as the companies we have met for their support, assistance and enthusiasm. Brought to You By 2 Healthcare & Life Sciences Review: Hong Kong www.pharmaboardroom.com HEALTHCARE & LIFE SCIENCES REVIEW HONG KONG CONTENTS — September 2017 To China and Beyond Feature 14 2 ACKNOWLEDGEMENTS 5 PREFACE 6-7 FOREWORDS Dawn of a New 8 SNAPSHOT IN FIGURES Era Cover Story 12 HK’S HEALTHCARE SYSTEM FEATURE 19 Maintaining Excellence 14 CHINA FEATURE Looking North 15 INTERNATIONALIZATION FEATURE Going Global 17 CEO PROFILE Prof. Dennis Lo, CUHK 19 DAWN OF A NEW ERA COVER STORY 20 The Visible Hand of the State First Impressions of Hong Kong 23 Land of Unicorns Interview with Scott 27 The Domestic Market: David Takes on Goliath Curley, AstraZeneca Interview 30 Clinical Trials Destination 40 34 Taking Advantage of the Mainland China Market 36 Gazing Ahead 38 MEDTECH INTERVIEW Michael Tsui, Rehab Robotics 39 COMMUNICATING EXCELLENCE FEATURE Global Reputation The Healhcare & Life Sciences Review was produced 40 LEADERSHIP INTERVIEW by PharmaBoardroom. Scott Curley, AstraZeneca Project Coordinator HK: Julija Lukaityte 42 TCM MEETS BIOTECH INTERVIEW Editor HK: Karen Xi Prof. Christopher Cheng, Hong Kong Institue of Biotechnology Publisher HK: Diana Viola (HKIB) Senior Editor: Louis Haynes Editor: Patrick Burton 44 COMPANY SPOTLIGHT FEATURE Hybribio Junior Editor: Luca Nardini Graphic Design: Miriam León For exclusive interviews and more info, please log onto www.pharmaboardroom.com or write to [email protected]. Copyright: All rights reserved. No part of this publication maybe reproduced in any form or by any means, whether electronic, mechanical or otherwise including photo- copying, recording or any information storage or retrieval system without prior written consent of Focus Reports. While every attempt is made to ensure the accuracy of the information contained in this report, neither Focus Reports nor the authors accept any liabilities forerrors and omissions. Opinions expressed in this report are not necessarily those of the authors. www.pharmaboardroom.com Healthcare & Life Sciences Review: Hong Kong 3 STAY IN TOUCH: @pharmaboardroom www.pharmaboardroom.com JOIN THE CONVERSATION Hong Kong Additional full-feature interviews from our Hong Kong 2017 Report can be accessed on PharmaBoardroom, the premier website for C-Level executives, consultants and state actors in the pharmaceuticals and life sciences sector, alongside hundreds of exclusive interviews featuring the main movers and shakers of the industry, free country reports and sector insights supplemented by the latest news from global markets. AMPLIFIED CONTENT IN BRIEF CHARLES NG @pharmaboardroom Associate Director-General This #Hospital Operator thinks its a #biotech #hongkong SIMON TSANG Head of Innovation and Read the article Technology, InvestHK, Hong Kong @pharmaboardroom Hong Kong: Land of the Biotech Unicorns #hongkong #biotech #unicorn JUN WANG Founder & CEO, GeneHarbor #startups Biotechnologies, Hong Kong Read the article @pharmaboardroom Christopher Cheng of the #HongKong WILLIAM LAI YF Institute of Biotechnology (#HKIB) on CEO, Fortune Pharmacal, confluence between #biotech and #TCM Hong Kong Read the interview @pharmaboardroom JOYCE WONG Andy Barnett of #Roche #HongKong on the Managing Director Asia-Pacific, potential in #digitalhealth and academic- Polaris Hong Kong industry collaboration in HK Read the interview 4 Healthcare & Life Sciences Review: Hong Kong www.pharmaboardroom.com PREFACE Preface On July 1 2017, the fifth Chief Executive (CE) of the Hong Kong – indeed, any country – cannot rest on Hong Kong Special Administrative Region (SAR), The its laurels but must persist in striving for a better Honorable Carrie Lam, was sworn in at the conven- future. tion center overlooking Victoria Harbor, witnessed One opportunity is the much-touted Great Pearl by none other than the Chinese Premier Xi Jinping River delta initiative launched by the Chinese gov- himself. It was a landmark day where Hong Kong not ernment, including the nine cities in the Pearl River only witnessed its first female CE but also the 20th Delta region of Guangdong Province as well as the anniversary of Hong Kong’s 1997 handover to China. two SARS, China and Macau. President Xi witnessed “Together. Progress. Opportunity” was the rousing the signing of a Framework Agreement for the devel- slogan for the 20th anniversary celebration and both opment of this so-called ‘Greater Bay Area’ scheme President Xi and CE Lam struck an upbeat note at during the same visit. A region known for its pio- the ceremony. neering role in China’s Open Door Policy, the huge While Hong Kong has enjoyed a significant period economic success witnessed over the past decades of peace and prosperity since the end of colonial rule, is an encouraging sign of the benefits of increasing ranking as one of the richest cities in the world with China’s linkages with the international community. an average GDP per capita of USD 43,681, challeng- As the first truly global ‘Chinese’ city, Hong Kong es do loom in the future, from uncertainty over the inevitably has a central role to play within this initi- trajectory of mainland-Hong Kong relations (most ative and should seize advantage of its unique har- explosively manifested in the 2011-2 Occupy Central mony of international and Chinese norms. movement) to more prosaic concerns like a rapidly Nowhere is this more evident than in the life aging population exerting increasing financial strain sciences sector, a nationally strategic industry that on the healthcare budget, as well as the constant showcases both the strengths that Hong Kong must struggle of maintaining a sharp competitive edge leverage and the weaknesses that Hong Kong must amidst intense regional competition. It is clear that ameliorate. www.pharmaboardroom.com Healthcare & Life Sciences Review: Hong Kong 5 STRAPFOREWORD IN HERE PLEASE Strap subhead in here please As Chairman of Hong Kong Biotechnology Organization (HKBIO), it is my pleas- ure to introduce the Hong Kong edition of Healthcare & Life Sciences Review. The biotech industry in Hong Kong and China are booming, with priorities to foster leadership and partnering networks as well as knowledge, and be seen as a worldwide platform for the development of leading-edge products and services in all fields related to biotechnology. In proximity to China, Hong Kong is suitably located as a regional headquarters for overseas companies looking to capitalize on the growth of the region. Meanwhile, companies from China use it as a bridge to connect with the West. Recognized for its scientific excellence, Hong Kong universities produce more than 200 biomedical publications every year and are actively involved in large- scale genomics research and studies of emerging infectious diseases. Hong Kong stands as an international player bringing together domestic and foreign life sci- ence innovators to improve the quality of healthcare for the people in Asia and the rest of the world. Effectively, Hong Kong creates an ecosystem that builds upon its strengths to foster yet more innovation. The following report, with its comprehensive study, invites industry stakehold- ers to understand the challenges and opportunities that our sector is facing right now and in the years to come. With this Healthcare & Life Science Review, I invite all members to learn more about the evolvement of the biotech sector in Hong Kong and to learn about this city’s immense contribution to the global advance- ment of life sciences sector. Albert Cheung – Hoi Yu, PhD, J.P. Chairman HKBIO 6 Healthcare & Life Sciences Review: Hong Kong www.pharmaboardroom.com FOREWORD STRAP IN HERE PLEASE Strap subhead in here please Strap subhead in here please As Associate Director General of Invest Hong Kong, it is a great privilege to introduce the inaugural Hong Kong edition of Healthcare & Life Sciences Review. Traditionally recognized as one of the leading international financial centers, as the global economic landscape evolves, Hong Kong is in a sweet spot to position herself as a leading life sciences and healthcare innovation and technology hub. Ranked as the world’s most competitive country in 2017 by the IMD World Competitiveness Center, Hong Kong has a proven track record as a first-class invest- ment destination. Hong Kong boasts a highly sophisticated and efficient healthcare system; world-class academic expertise; globally recognized universities and research institutes; international financial, legal and IP standards; as well as one of the world’s largest markets – mainland China – in its backyard. Not only has Hong Kong historically been the preferred entry point into mainland China thanks to the unique convergence of east and west culture, today, mainland China is looking to Hong Kong as a bridge to the international community, with Hong Kong playing a pivotal role in the Greater Bay Area initiative as well as China’s ambi- tious ‘One Belt,
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