7 May 2025 – Hong Kong – On 30 April 2025, Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITPL) and Pfizer Corporation Hong Kong Limited (Pfizer) signed a Memorandum of Understanding (MoU) at the Hong Kong-Shenzhen Innovation and Technology Park, the Hong Kong Park in the Loop (HSITP). With an aim to leapfrog the health and medical innovation in Hong Kong and the Greater Bay Area (GBA), this strategic partnership will leverage the unique strengths of both organizations to propel the advancement of biotechnology sector in the region, with the Hong Kong Park positioned as the preeminent hub fostering biotech talent development and clinical trials.
The MoU outlines a collaborative framework focusing on three pivotal initiatives:
- Expanding Biotech Talent: HSITPL and Pfizer will jointly endeavour to broaden Hong Kong’s biotechnology talent pool by attracting global capability centres to establish and expand operations within the region. This long-term initiative is projected to commence in 2027.
- Accelerating Clinical Trials and Real-world Evidence (RWE) Generation: The collaboration aims to enhance the efficacy of clinical trial operations and generate RWE across Hong Kong and GBA cities, with implementation plans set for 2026.
- Support for Incubation and Acceleration Programs: The collaboration will seek to make use of the experience and proven track records of Pfizer in incubation and acceleration to support HSITP to nurture a dynamic environment for biotech innovation and growth in the Park.
Mr. Vincent Ma, Chief Executive Officer of HSITPL said, “We are delighted to collaborate with Pfizer, a global pharmaceutical leader, to pursue a visionary course in our journey towards the development of a world-class innovation and technology (I&T) hub. This partnership will further enable us to accelerate frontier technology breakthroughs in the Hong Kong Park, attracting top-tier talents and resources to foster a dynamic and resilient ecosystem, making full use of Hong Kong’s strengths as a ‘super connector’ and ‘super value-adder’.”
Mr. Krishnamoorthy Sundaresan, General Manager, Pfizer Hong Kong and Macau, highlighted, “Pfizer is continuously working to advance the discovery and development of science that can bring greater outcomes and hope to patients everywhere. This collaboration is well-aligned with our broader ‘Pfizer China 2030 Strategy’ focused on accelerating the development of innovative medicines and access and supporting local biotech development. We are proud to work with HSITPL to strengthen market-level medical capabilities, drive progress in clinical development and elevate healthcare outcomes for communities in the region.”
The collaboration also presents an opportunity for Pfizer and HSITPL to identify potential joint biomedical research and commercialization projects.