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HKSTP Biotech Initiative HKSTP Mini-White Paper Proposal Report January 2003

HKSTP Biotech Initiative HKSTP Mini-White Paper Proposal Report January 2003. Presentation to HKSTP Board of Directors January 15, 2004. Table of Content. Background The Assignment The Process Basic Conditions for a Biotech Cluster Analysis of Conditions in Hong Kong Conclusion

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HKSTP Biotech Initiative HKSTP Mini-White Paper Proposal Report January 2003

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  1. HKSTP Biotech Initiative HKSTP Mini-White Paper Proposal Report January 2003 Presentation to HKSTP Board of Directors January 15, 2004

  2. Table of Content • Background • The Assignment • The Process • Basic Conditions for a Biotech Cluster • Analysis of Conditions in Hong Kong • Conclusion • Recommendations • Roadmap

  3. Medicon Valley Satellite photo to be inserted

  4. Medicon Valley 3 million people 7 universities 11 university hospitals 6 science parks 71 pharma co’s 125 medtech co’s 110 biotech co’s 20,000 students

  5. The Cluster Network Organisation for Medicon Valley In 1997, Medicon Valley Academy began as a university project supported by the European Community In 2000, Medicon Valley Academy turned into a private, non for profit, member based organisation In 2003, Medicon Valley Academy has attracted more than 250 members including universities, hospitals and industry

  6. Knowledge on Knowledge Vision Create Europe's most attractive bioregion by 2005 Focus areas 2003-04 Create networks within areas of strengths Provide infrastructure for a regional knowledge platform Improve technology transfer mechanisms Strategic information and communication Create – Transfer - Exploit

  7. Development re. Biotech Companies

  8. Development re. Operating VC Funds 40 35 30 25 20 15 10 5 0 1990 1992 1994 1996 1998 2000

  9. A Mature Biotech Cluster

  10. The Assignment From HKSTP Analyse the general and specific conditions in Hong Kong for establishing a successful biotech cluster, including a biotech industry, and thereby position Hong Kong in the long term as a leading biotechnology hub in Asia

  11. Value from Cluster Formation Knowledge Creation Technology Transfer Patents & Proof of Concept Business Planning Licences Testing Incubation/ Research Parks Universities & Research Institutions Venture Capital Public & Private Job Creation Funding Conception Formation Industry R & D Regulatory Environment Collaboration/ Partnerships Industry Maturity Growth Partnerships Clinical Trials M&A Activity Regulatory Economics Approval of Scale IPOs /gazelles Product Pipeline Labour Market Clusters & Networks Commercialisation

  12. Basic Conditions for a Biotech Cluster Upstream Midstream Downstream

  13. General Conditions for High-Tech in Hong Kong • World class brand • Excellent infrastructure, sophisticated support systems and limited geography • International airport and transportation systems convenient • Bilingual society – international business outlook • Entrepreneurial spirit • Low personal and corporate taxes • International top level education system • Legal system and protection of IP well reputed • The mainland China market, CEPA

  14. Biomedical Science Strength

  15. Biomedical Science Strength

  16. Prominent BiomedicalResearch Areas • Genetics , incl. genetic-related bioinformatics • Cancer research • Endocrinology (incl. diabetes) • Molecular neuroscience • Organic chemistry • Virology/vaccines, immunology/allergy, developmental biology, cardio-vascular research

  17. Hong Kong and Mainland China BEIBeijing University FUDFudan University, Shanghai GUZGuangzhou University MMGFirst Military Medical College, Guangzhou PEKPeking Union Medical College SHAShantou University SJTShanghai Jiao Tong University SYS Sun Yat Sen University, Guangzhou THBTsing Hua University, Beijing ZSGZhongshan University, Guangzhou

  18. Hong Kong and Mainland China

  19. University Trained Resources

  20. Human Resources Abroad

  21. Investors Business Plan Clinical Trials Distribution Project Management Market Survey Product Development Design & Production Marketing & Sales Patenting Commercial Viability Bridging Research and Commercialisation Business Idea

  22. Academics in Hong Kong and Biotech Commercialisation • High degree of entrepreneurial spirit • Especially young scientists are positive • Lack of knowledge on how • Only some universities offer courses • TTOs not perceived as pro-active • TTOs are understaffed and under skilled

  23. Trends for Biotech Start-ups and Biotech IPOs

  24. Fundamentals for Attracting Private Risk Capital to Biotech Co’s has Not Changed

  25. Private Venture Capital for Biotech in Hong Kong

  26. Summary of Analysis

  27. Hong Kong can establish a biotech cluster Our overall conclusion is that, if Hong Kong wishes to do so, it can now establish a biotech cluster that includes a biotech industry. We also conclude that it should be done now rather than later so that Hong Kong does not lose the lead it has over several potential competitors. Overall Conclusion

  28. Recommendation 1 Organise the cluster

  29. Medicon Valley Academy Board

  30. Medicon Valley’s International Profile

  31. Recommendation 2Improve Total Technology Management

  32. Recommendation 3Improve Funding for New Biotech Businesses • Establish a new pre-seed/seed fund • Collaborate closely with the TTM organisation • Provide funding for HK university biomedical research • Provide funding for biomedical research pulled in from abroad • Bridge to private venture capital funds • Build an international biotech executive network together with TTM organisation

  33. Recommendation 4 Improve Collaboration Between Research and Industry • Top quality entrepreneurship courses and seminars • Shared research positions university/industry • Joint Ph.D program university/industry

  34. Recommendation 5Instigate Regional Business Plans • Develop a set of regional business planswhich cover • the prominent research areas in HK • pull potential from abroad 2. Analyse potential in shared production plant for therapeutics

  35. Recommendation 6Amplifying the Effect of CEPA • Reform the regulatory system • Upgrade GMP standards • Contact China SFDA for authorisation of CTC

  36. Recommendation 7Stimulate the Biomedical Research Pipeline • Implement ten Strategic Biomedical Research Programmes • Implement twenty Excellent Young Scientists Programmes • Fund additional modern technology services • Increase RGC funding of biomedical research • Develop a high quality web-based HK biomedical database

  37. Roadmap for a Biotech Cluster Key Milestone Activities Year 1 Year 2 Year 3 Year 4 IMMEDIATE ACTIVITIES Start - up decisions by the HKSTP Board 1. Decide to establish a cluster network organisation with an initial budget of HKD 25 million 2. Decide to establish a TTM organisation with an initial budget of HKD 50 million 3. Take follow up actions, including hiring of CEO’s for the two organisations 4. Put together boards of the two organisations in coordination with key stakeholders 5. Start strategy work to establish interim mission & vision of cluster network organisation and cluster, respectively 6. Initiate regional business plan project based on prominent research areas with an initial budget of HKD 10 million (to be taken over by TTM organisation) SHORT - TERM ACTIVITIES Key activities for cluster network organisation 1. Establish the long - term vision & mission and decide on a biotech branding and promotional concept for HK, incl. web - portal 2. Decide on the first annual operational plan 3. Drive the implementation of the proposed biotech pre - seed/seed fund 4. Drive the proposed improvements of the HK regulatory system 5. Drive the proposed China SFDA contacts for approval of HK CTC Completion of milestone New biotech cluster fully operational

  38. Roadmap for a Biotech Cluster Key Milestone Activities Year 1 Year 2 Year 3 Year 4 SHORT - TERM ACTIVITIES (cont.) Follow - up decisions by TTM organisation in coordination with others 1. Individual agreements with universities on embedded tech transfer officers and guidelines for collaboration with universities MID - TO LONG - TERM ACTIVITIES Follow - up activities by the TTM organisation and pre - seed/seed fund management 1. Initiate establishment of international biotech executive network 2. Implement entrepreneur courses and seminars in collaboration with universities Follow - up activities by the joint network organisation 1. Develop biotech cluster relationship with the relevant authorities in PRD Follow - up activities by cluster network org. in collaboration with other stakeholders 1. Introduce shared research positions equally sponsored by university/industry 2. Drive the proposed implementation of “Strategic Research Programmes” 3. Drive the proposed implementation of “Excellent Young Scientist Programme” 4. Drive the implementation of the proposed provision of joint tech service facilities and post - graduate places and post - doc positions 5. Establish a high quality, web - based biomedical research group database for Hong Kong Completion of milestone New biotech cluster fully operational

  39. Basis for a New Biotech Cluster

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