*********************************************************

Hong Kong has been chosen by a listed Swedish biotechnology company, Perbio Science AB, as the location for its Asia-Pacific headquarters.

Perbio's move endorses the Hong Kong Special Administrative Region's effective bridging and coordinating role for overseas companies to explore the huge biomedical and healthcare markets in Asia.

The investment will also enhance Hong Kong's position as a biotechnology hub in Asia.

The acting Director-General for Investment Promotion at Invest Hong Kong, Mr John Rutherford, was invited to officiate at the opening of Perbio's new regional headquarters, warehousing and distribution facilities in Hong Kong today (July 24).

Perbio's expansion into Hong Kong will help increase sales and create job opportunities in the local market.

The General Manager of Perbio Science Hong Kong Ltd, Dr Wang Te Chung said, "We are installing a fully operational team here. With this new facility in Hong Kong, quality of the services, and time required for products to reach customers in South East Asian markets will be greatly improved."

The Director of International Sales of HyClone (one of Perbio's largest subsidiaries), Mr Lynne Pettit, said, "We chose Hong Kong as our Asia-Pacific headquarters because of its superior logistics and telecommunication infrastructure. Its location is ideal for expanding our business throughout Asia and the Pacific Rim.

"HyClone maintains the highest standards in product quality and customer service, so our new facilities in Hong Kong will allow us to better support our rapidly growing customer base in this region."

Mr Pettit also pointed out that this expansion demonstrates Perbio's commitment to the growing biotechnology market in Asia. The company's products are currently sold in Japan, Korea, Singapore, India, Malaysia and the Philippines.

HyClone and Pierce are Perbio Science's distributors for the Asia-Pacific region. In addition to Perbio Science Hong Kong, they are wholly owned subsidiaries of Perbio Science AB.

At the opening reception, Mr Rutherford officially welcomed Perbio Science's establishment of a regional headquarters and distribution facilities here. He said, "We are delighted that Perbio Science has chosen Hong Kong to base its Asia-Pacific headquarters. The company's presence here will add to the growing cluster of companies in the biotechnology industry who are making their home here.

Mr Rutherford said, "The Government is committed to creating an environment conducive to the development of the biotechnology industry.

"Through the Innovation and Technology Fund and university grants, a total sum of US$100 million was utilised to fund a large number of biotechnology-related projects, ranging from infrastructure building, applied research and development, product development to promotional activities."

He stressed, "Hong Kong has all the key ingredients to become the regional hub for Asia in biotechnology. We offer rigorous protection for intellectual property, a well established legal framework, and a world-class communication and transportation network.

"We also provide world-class physical, human and technological infrastructure, through our excellent universities, research institutes and, of course, Hong Kong Science & Technology Park.

"The recently announced Closer Economic Partnership Agreement with the Mainland should also facilitate the growth of the biotechnology industry in Hong Kong."

Perbio is one of the leading suppliers of products, systems and services for the study and production of proteins. It also develops products in the bioresearch, cell culture and medical device fields.

Among Perbio's customers are research institutes as well as pharmaceutical and diagnostic companies. The USA accounts for the bulk of its business.

Invest Hong Kong is charged with attracting inward investment into the city. It offers an extensive range of practical assistance, from investment planning, procedural guidance and promotional advice to site visits, official contacts, specific information and aftercare services.

End/Thursday, July 24, 2003

NNNN