Hangzhou-based cancer screening firm New Horizon Health opens R&D centre in Hong Kong tech hub as it eyes global expansion
- First phase of development in Hong Kong includes an operational office and a research laboratory
- Opening of R&D centre in Hong Kong is in line with Science Parks’ mission to help mainland tech companies capture global opportunities
Hangzhou-based biotech company New Horizon Health on Friday opened a new research centre in the Hong Kong Science and Technology Parks (HKSTP), aimed at drawing on the city’s talent pool and technology resources to help it expand overseas.
The opening is in line with one of HKSTP’s missions to help mainland tech companies gain a better understanding of the global environment and to capture international opportunities.
“Hong Kong will serve as a key place for the commercialisation, research and development, and internationalisation of New Horizon,” said Zhu Yeqing, co-founder and chairman of New Horizon, in an interview with the Post on Thursday.
The first phase of development in Hong Kong includes an operational office, and a research laboratory with a total space of 10,000 square feet, making it one of the key tenants in the park. Total investment is expected to be HK$100 million (US$12.74 million) over the next five years.
Founded in 2015, New Horizon makes cancer screening products focused on early detection of high-incidence cancers, such as a stool-based DNA test specifically designed to detect colon cancer. It was listed in Hong Kong in February, 2021.
“Hong Kong has a lot of high-standard scientists and professional biotech talent. We need them to back our research and development as we eye international markets, including Southeast Asia, Europe and the United States,” said Zhu.
“The R&D centre will also recruit global biotech scientists and researchers. It has the advantage of being able to attract talent from the Greater Bay Area,” said Zhu, who added that the firm aims to hire 20-30 researchers in the first phase.
“The development of innovation, technology and re-industrialisation in Hong Kong is not an option, but a way of survival,” said Albert Wong hak-keung, chief executive of HKSTP, in a statement on Friday. “Technological innovation is an important part of Hong Kong’s development.”
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New Horizon’s Zhu said cancer types, cancer incidences and causes of cancers differ between China and developed countries. Hong Kong, as a developed economy, can provide data and research support for the company.
The Hong Kong research centre will use the mainland and Hong Kong teams as twin engines to keep progress on pipeline products in line with schedules, said Zhu.
The company also has an operational centre in the Nansha district of Guangzhou in southern Guangdong province, part of the Greater Bay Area, with an annual capacity of 500,000 cancer screening tests.
New Horizon’s two colorectal cancer screening products, ColoClear and Pupu Tube, as well as a H.pylori screening product UU Tube, have been approved by the National Medical Products Administration in China.
The company has three additional pipeline products for liver, cervical and nasopharyngeal cancer screening. In May, the company teamed up with Nasdaq-listed Prenetics to launch ColoClear to target Hong Kong, Macau, Taiwan and Asian markets.
