Swedish biotech company opens Asia-Pacific HQ

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 government's bridging and co-ordinating 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 the region.

The General Manager of Perbio Science Hong Kong Ltd, Dr Wang Te Chung said today (July 24) the new facility would greatly improve the quality of the services and time required for products to reach customers in South East Asian markets.

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

He said the expansion demonstrated the company's commitment to the growing biotechnology market in Asia. Perbio's products are currently sold in Japan, Korea, Singapore, India, Malaysia and the Philippines.

At the opening reception, the acting Director-General for Investment Promotion at Invest Hong Kong, Mr John Rutherford, said Perbio's presence would add to the growing cluster of companies in the biotechnology industry that were making their home in Hong Kong.

He said the government was committed to creating an environment conducive to the development of the biotechnology industry.

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

Hong Kong, he said, had all the key ingredients to become the regional hub for biotechnology.

"We offer rigorous protection for intellectual property, a well established legal framework, and a world-class communication and transportation network. And we also provide world-class physical, human and technological infrastructure," Mr Rutherford said.

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 and pharmaceutical and diagnostic companies, with the USA accounting for the bulk of its business.

End/Thursday, July 24, 2003