He pointed out that global biotech fundraising reached approximately US$70 billion last year, an increase of more than 10 percent, and the value of deals hit US$300 billion –an all-time high.
The sector’s momentum, he said, is being driven by ageing populations, rising healthcare needs and technological progress, including the use of artificial intelligence in drug discovery.
Chan highlighted Hong Kong’s role as the world’s second-largest biotech fundraising platform, with close to 300 healthcare companies listed on the Hong Kong Stock Exchange and a combined market capitalisation exceeding US$480 billion.
A Hong Kong listing, he pointed out, connects emerging pharmaceutical firms with global capital while allowing international investors to access Chinese innovation.
Chan also pointed to the Hong Kong Investment Corporation’s allocation of 22 percent of its funds to the biotech sector and the Greater Bay Area as a rapidly emerging centre for biomedical innovation.
Five of the world’s top 10 pharmaceutical companies, he stressed, have already chosen Hong Kong as their regional research and development base.
“The convergence of capital, talent, enterprises and industry creates powerful opportunities for the biotech sector,” Chan said.
“Scientific progress, social benefit and sustainable returns can – and should – advance together.”