Boehringer Ingelheim to incubate biotechs with Hong Kong R&D leader
Following the suit of AstraZeneca last February, Boehringer Ingelheim will team up with a leading R&D hub in Hong Kong to seed biotechs.
Whereas AstraZeneca focused on cancer drugs and diagnostics, the German giant will work with Hong Kong Science and Technology Parks on incubating infectious disease and immunology drug developers.
HKSTP and Boehringer, through its venture arm, will support the upstarts with up to $6 million HK (about $600,000 USD) each to bankroll early-stage operations and clinical trials, said Grace Lau, head of HKSTP’s institute for translational research, in a statement.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.