Hong Kong Biotech Report

Frost & Sullivan Releases New Blue Book Highlighting Hong Kong Biotech Sector Development

Frost & Sullivan has released the 2026 Blue Book on the Development of Hong Kong Stock Exchange 18A Biotech Sector, delivering an in-depth analysis of the Hong-Kong 18A biotech ecosystem, capital market cycles, innovative drug R&D breakthroughs, enterprise commercialization progress, and global expansion trends. The report, in partnership with TradeGo, LeadLeo and CCXGF (China Chengxin Green Finance Technology (Beijing) Ltd), serves as a reference for industry practitioners, investors, research institutions and regulatory stakeholders to grasp industrial dynamics and make strategic decisions. Since the launch of Hong-kong Stock Exchange’s Chapter 18A listing rules in 2018, Hong Kong has built a vital financing hub for unprofitable biotech firms from Greater China. Nearly 93 biotech companies have gone public under the 18A framework, covering small-molecule drugs, antibody therapeutics, vaccines, nucleic-acid medicines, peptides, cell & gene therapy (CGT), IVD, surgical robots, medical devices and other high-growth innovation tracks. Cross-border BD transactions have become a signature feature of China’�s biotech industry. The NewCo collaboration model is gaining adoption as an innovative international cooperation vehicle. Chinese biotech companies are advancing multi-regional global clinical trials, registering products with FDA / EMA and building worldwide commercial capabilities.

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