Hong Kong is reinforcing its position as a biotech fundraising and commercialisation hub, as companies landed at Hong Kong Science Park secure multi-billion Hong Kong dollar deals, late-stage funding and IPO pipelines.
The momentum was on display on March 18 when more than 100 biotech innovators, investors and industry leaders gathered at Hong Kong Science and Technology Parks (HKSTP)’s CTC Marketplace Series: From Clinical Trials to Fundraising, Licensing Deals and Acquisitions” event.
Commercial progress achieved over the past year was presented, including licensing agreements, fundraising rounds and listing applications. The event brought together stakeholders across the sector to examine how companies are advancing from clinical trials towards market entry.
Inxmed, an oncology company focused on tumour drug resistance, has raised more than US$130mn across five funding rounds and applied to list in Hong Kong last August.
Francis Cao, co-founder and chief operating officer, said the company’s decision to establish operations in Hong Kong three years ago had supported its clinical and capital market plans. “Hospitals here allow us to recruit patients efficiently and accelerate clinical progress, which supports our IPO submission,” he said.
The company also secured late-stage Series C funding ahead of its listing application, which Cao said reflects investor interest in its approach to cancer treatment and access to international capital through Hong Kong.
The event showed how HKSTP’s clinical-stage portfolio has grown from five to more than 60 companies in recent years. These firms have raised billions of Hong Kong dollars and entered licensing agreements with global pharmaceutical groups.
Terry Wong, chief executive of HKSTP, said the park provides world-class infrastructure, talent, and policy backing from the nation and the government.
For mainland-based Chinese companies, Hong Kong offers a common law system, international regulatory standards and free capital flows, which support the transition from research to commercial activity.
Health Hope Pharma reported a licensing agreement with Gilead Sciences valued at US$10mn upfront and up to US$72.5mn in milestone payments. Its P-gp inhibitor platform is moving into global Phase 3 trials, with sites in the US, Hong Kong and New Zealand.
Arthrosi Therapeutics raised US$153mn in a Series E funding round with participation from HKSTP’s venture fund, before being acquired for US$1.5bn. Its URAT1 inhibitor for gout has received Fast Track designation from the US Food and Drug Administration.
Nuance Pharma has used Hong Kong’s “I+” mechanism and the GBA Connect policy to speed up market access for its COPD drug Ohtuvayre, which received approval from the Department of Health last week.
According to HKSTP, the CTC Marketplace initiative is intended to connect biomedical companies with investors and partners through curated sessions and business matching.
