Hong Kong, China, March 22, 2018 – Hong Kong Exchanges and Clearing Limited (HKEX) has recently hosted the first Biotech Summit 2018. The summit aims at offering biotech companies communication channels with investors, market participants and capital market experts, and aims at jointly building up the investment and financing eco-system for Hong Kong biotechnology sector, with specific focus on building up the upcoming HKEX Biotech Sector.
The summit attracted more than 900 participants and half of them were from investment sector including well-known investment banks and biological funds. Majorities of leading biological and medical enterprises and their leaders have attended the summit. Professor Qiyuan Ma, CEO of Time Medical Systems and Simon Yeung, Co-founder of Time Medical Systems were invited as a representative of medical equipment company to attend the event.
Charles Li, Executive Director and Chief Executive of HKEX expressed the intention, objectives and procedures of the introduction of the Biotechnology Sector Board. Li said that the appearance of new technologies such as big data and artificial intelligence will facilitate the development of biological science technology. At the same time, China has changed tremendously and will become stronger in future. The powerful medical reform in China helps break down regulatory obstacles. All these added up to facilitate the flow of talents and capitals. “Capital usually does not come timely when needed, so now it is the right time to attract biotech companies to list in Hong Kong.” Li said.
According to Li, the answers to a series of questions: “Why should it be done now? Why should we do this? Why should it be done in Hong Kong?” lie in the conclusions drawn at the summit; while he further raised other questions: “If we do not do it, who else can do it? If we do not do it now, when should we do it? If we do not do it in Hong Kong, where should we do it?”, that arouse attendants’ attentions.
Professor Ma and Simon exchanged ideas and thoughts with Li, Ashley Alder, Chief Executive Officer of the Securities and Futures Commission, Chairman of the Biotechnology Innovation Organization, and James Greenwood, former member of the Congress of the US; as well as meeting senior executives of more than 10 investment banks and biological fund companies at the summit.
In the afternoon Q & A session with Li, Professor Ma expressed that medical equipment and diagnostic technologies are key components in biotechnology sector. Professor Ma cited biotechnology sector in Europe and America as example in which the output value ratio of medical equipment to pharmaceutical industry is 1:1, suggesting that HKEX put equal emphasis on the two areas. Li expressed gratitude for his opinion.