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HKSTP and AstraZeneca Launch Co-incubation Programme
for Biomedical Startups to Develop “Made in HK” Integrated Oncology Solutions

Release Date: 2021-02-10

AstraZeneca and the Hong Kong Science and Technology Parks Corporation (HKSTP) have launched a co-incubation programme to support biomedical startups in their mission to develop integrated oncology solutions to accelerate innovation in oncology, foster local biomedical technologies and enhance Hong Kong’s status as a leading biomedical innovation hub.

In the last decade, malignant cancerous tumours have been the number one cause of death among all diseases in Hong Kong . Today’s cancer treatment solutions, physical checkups, diagnosis, treatment, follow-up, and rehabilitation, are all interrelated. Improvements in either aspect of the patient journey will create huge opportunities to drive better treatment outcomes.

R&D boost for biomedical startups and platform to global markets
This programme will attract local and overseas startups to embed themselves in the Science Park and develop comprehensive oncology diagnosis and treatment solutions. Successful applicants of the programme will be eligible to a series of professional support from HKSTP, including the funding support of up to HK$6 million, working space and advanced laboratory facilities, as well as leverage HKSTP’s value-added services platform which provides business matching opportunities with strategic partners and potential investors, and talent support.

In the programme, AstraZeneca will support startups and assist in connecting them with industry stakeholders and partners, so that they can have a clearer understanding on industry information and related opportunities. Additionally, AstraZeneca will also leverage its existing networks with Mainland China and global markets, including the Wuxi International Life Science Innovation Campus (I·Campus) co-built with local Government and Emerging Markets Health Innovation Hubs, SLUSH and Cambridge Network, to provide platforms for exploring opportunities overseas.

Gwenael Meneux, General Manager of AstraZeneca Hong Kong & Macau, said: “We look forward to our first collaboration with HKSTP, which hopefully will create a vibrant medical ecosystem. Incu-Bio startups, together with a medium-sized medical innovation technology company that already have a certain scale, will be able to make full use of Hong Kong’s professional talents and innovative technologies to promote local medical innovation, helping patients with early treatment, enhancing the effectiveness of treatment and maintaining patients’ quality of life.

Albert Wong, CEO of HKSTP, said: “Biomedical technology is a key strategic focus for HKSTP. This partnership between HKSTP and AstraZeneca marks a key milestone in HKSTP’s mission to continually drive Hong Kong’s biomedical technology development.”

“With the professional knowledge, rich industry experience and global cooperation network from AstraZeneca, together with our world-class infrastructure and support, we will be able to attract high potential startups to land in Hong Kong, accelerate their growth, bring widespread benefit to cancer patients, and establish Hong Kong as a global leader in biomedical innovation.”

The first oncology partnership project
This is the first oncology-related partnership launched by AstraZeneca Hong Kong and HKSTP. The plan will last for two years. Participating startups will also become members of HKSTP Incu-Bio. For details about Incu-Bio, please visit https://www.hkstp.org/what-we-offer/incubation-and-acceleration-programmes/incubation/incu-bio/.

(Seating from left to right)
Mr. Albert Wong, Chief Executive Officer of Hong Kong Science and Technology Parks Corporation
Mr. Gwenael Meneux, General Manager of AstraZeneca Hong Kong and Macao

(Standing from left to right)
Prof. John Kao, Head of BioMedical Technology Cluster, Hong Kong Science and Technology Parks Corporation
Mr. Eugene Hsia, Chief Corporate Development Officer of Hong Kong Science and Technology Parks Corporation
Ms. Annie Choi, JP, Permanent Secretary for Innovation and Technology
Dr. Sunny Chai, BBS, Chairman of Hong Kong Science and Technology Parks Corporation
Mr. Alfred Sit, JP, Secretary for Innovation and Technology
Ms. Rebecca Pun, JP, Commissioner for Innovation and Technology
Mr. Chris Chow, Senior Manager of Government Affairs and Market Access, AstraZeneca Hong Kong
Mr. Reza Nobar, Director of Innovation and Business Excellence, AstraZeneca Hong Kong
Dr. Michael Lai, General Manager of AstraZeneca China