Bulletin Summer 1989

Hong Kong Institute of Biotechnology Hong Kong Institute of Biotechnology (HKIB) was established in June 1988, as the first non-profit organization of its kind in Hong Kong with the following major objectives: (1) to conduct in-house biomedical research and development; (2) to assist or collaborate with biotechnology researchers at tertiary institutions of Hong Kong, especially in providing technology assessment and securing funds for the continued development of selected inventions to a commercial stage; (3) to consult or collaborate with the industries and government of Hong Kong in research and development of biotech-related projects and products; and (4) to promote the establishment of biotechnology industry in Hong Kong through forming biotechnology businesses and other arrangements, such as joint venture, business partnership, technology licensing, contract research, etc. with companies having technology, finance, or market capabilities. In May 1989, Hong Kong Institute of Biotechnology received a major donation of HK$170 million from the Royal Hong Kong Jockey Club, part of which will be used for the construction of facilities of approximately 7,000 square metres at a site of 31,000 square metres made available by The Chinese University of Hong Kong near the Tolo Harbour. The institute will accommodate more than one hundred professional researchers to conduct research and development projects on cell/tissue culture, recombinant DNA, protein/enzyme chemistry, natural products, separation technologies, etc. A special feature of the institute will be a pilot production facility approved for Good Manufacturing Practices (GMP) by the Food and Drug Administration of the United States, which will be one of the most sophisticated in Southeast Asia. Construction of the facilities is anticipated to be completed by the summer of 1991. Presently, the Hong Kong Institute of Biotechnology is operating in the Lady Shaw Building at the University. The institute has interest in developing technologies and products w i th good commercial potentials. Key areas of research and development include nutrition and food technology, environmental and waste management, and oriental and western medicine. Relationship between Tertiary Institutions and HKIB on Novel Concepts or Inventions in Biotechnology An important function of HK IB is to apply its expertise and facilities to help the tertiary institutions in Hong Kong and their staff in the science and medical faculties to explore possibilities of commercializing biotechnological inventions. Any faculty member with a possibly novel concept or invention in biotech-related areas is advised to either (1) file an invention report with his own institution which will transfer it to HK IB for further evaluation, or (2) approach HK IB directly for evaluation, by agreement of the tertiary institution and HKIB. Upon receipt of such submissions, HKIB will study the details and expeditiously make one of the following decisions: (1) proceed for further f i nanc i a l, legal and marketing analyses if the idea or invention is technically sound and commercially viable; (2) defer action pending more scientific data from the inventor; or (3) terminate further action, whereby the invention is returned to the inventor who has the right to develop the project on his own. In all cases, HK IB will seek recommendation on the scientific and technological merit of a submission from HKIB's Board of Scientific Advisers. Upon recommendation of decision (1) above, HK IB will work closely with the inventor to develop the research, development, legal, financial and marketing strategies for the technology and/or product. Upon commercialization of an invention, 50% of the net royalties is distributed to the inventor(s), and the other 50%. will be shared between the tertiary institution concerned and HKIB. If more than one inventor is involved, the inventors will share the net 3