With regard to the 2020 Budget, Financial Secretary Paul Chan Mo Po said that resources will be allocated to spur innovation in Hong Kong, including expansion of the Hong Kong Science Park to support local biotech companies and research institutions. A local biotech company welcomes this move, and plans to expand its scope of R&D and recruit more medical researchers.
Founded in Hong Kong, Aptorum Group is a biotech company listed on Nasdaq since 2018, with its R&D headquarter in Hong Kong and a laboratory at the Science Park. Mr. Ian Huen Chung-yuen, founder and Chief Executive Officer of the Group, said that they were currently expanding the laboratory at Science Park. The supportive initiatives of the Budget shall help expand the scale of its R&D activities which will allow more room to house equipment and researchers for medical research development. “We have quite a number of R&D projects progressing rapidly, we’ll therefore need a larger laboratory to cope with our business development,” continued Ian.
Recruitment of biomedical doctorate researchers
The integration of the Researcher Programme and Postdoctoral Hub was also mentioned in the Budget announcement. Ian said the company had participated in both programmes in the past, and is hoping to be able to reach out to more researchers and professionals through this new integrated platform.
“We plan to attract more R&D talents such as biomedical and pharmaceutical doctorate researchers in the next few years, so as to boost momentum for our R&D business and improve our international competitiveness. In recent years, the government has been emphasizing the importance of R&D by subsiding R&D activities and introducing policies encouraging technology transfers from universities to the commercial sector. We welcome these efforts.”
Ian added, to operate a biotech company in today’s challenging environment, one must strive to achieve progress and breakthroughs, like the Chinese saying: “A righteous man must strive for ongoing self-improvement”.
“Of course, government policies are also crucial to medical research development. We welcome greater support from the government in relevant areas such as rental or R&D subsidies.”