The US-based biotech firm BioMap, which was set up by China's internet giant Baidu's (9888) founder Robin Li Yanhong, aims to help establish around 20 startups over the next five years, with two already in early-stage development, chief executive Liu Wei said.
One such early-stage venture is an AI-driven, cutting-edge antibody drug R&D company, co-founded by Baitu and Legend Capital, which aims to initiate clinical trials in the city within the next one to two years, he said.
He hoped that the startup firms would go public in Hong Kong under Chapter 18A of the listing rules, which allows biotech companies with no revenue or profits to be listed.
After setting up its first international innovation centre called BioMap InnoHub in the city last year supported by Hong Kong Investment Corporation, the firm got many chances for international exchange through HKIC, including visits to Brunei and Malaysia, he added.
Amid a complex geopolitical climate, Hong Kong’s ‘Super Connector’ role can help BioMap to develop businesses in the Belt and Road Initiative, Southeast Asia, the Middle East, Europe, and other regions, Liu said.
