Written by: Imisae
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“Modern biotechnology is technology based on biology that provides breakthrough products and technologies to combat diseases, reduce the environmental footprint, feed the hungry, use less and cleaner energy, and have safer, cleaner, and more efficient industrial manufacturing processes“. Biotech has significant importance, especially during times such as now when infectious diseases such as COVID-19 are rapidly emerging with more than 144 million cases up until now worldwide. Biotech companies came to the rescue and led the fight against it, providing vaccines for more than 212 Mn people.
The global biotechnology market size was valued at USD 449 Bn in 2019 and is expected to continually grow. One of the major drivers of this growth in the financial aspect has been Hong Kong Exchanges and Clearing Limited (HKEX). HKEX is one of the world’s leading IPO markets, operating a range of equity, commodity, fixed income, and currency markets. In 2020, HKEX raised USD 76.8 Bn of equity funds.
HKEX has declared it is committed to providing support to biotechnology and life sciences businesses that focus on research and development that will benefit people around the world. The stock exchange has become the world’s second-largest biotech fundraising hub, ushering in 47 healthcare and biotech listings in 2020. Since 2018, the platform has provided a space for biotech companies to raise USD 70.7 billion.
In 2020, 23 biotech companies completed their IPOs in HKEX, raising a total of USD 12.6 billion.
HKEX is fueling the significant growth of the modern biotech sector by providing a platform upon which biotech companies can access financing and raise billions of funds for their operations.
