NOVEMBER 2022LIFE SCIENCES REVIEW8E mmanuel Hui is a life sciences investor from Hong Kong. He co-founded the gene therapy company Moogene (322970.KS) and currently oversees a VC/PE portfolio with exposure to over 2,000 companies at Pentepebble and a Chinese private equity fund. Operationally, he holds positions in companies working on cancer diagnostics (Angene), luxury wellness (Serensia Woods), veterinary care (Tonisity), automated cell culturing (Thrive), and sits on the Ethics Board of the Hong Kong Children's Hospital.Life Sciences Review sits down with this young "Baron of Biotech" to discuss his many efforts and vision for biotech startups in Hong Kong and the Greater Bay Area (GBA).Thank you for taking the time to speak with us today. We really appreciate your time.My pleasure, thank you for letting me proselytize my cause.Why don't we get right into it - your cause - what is it?Well, on the grand scheme of things, I suppose my cause is to improve and save people's lives through innovation and productization of the life sciences. But in the context of our conversation, I would like to highlight Hong Kong and the GBA as having a fundamental role to play in leading this cause globally.For our readers who aren't familiar, could you give us a quick overview of what you mean by the GBA?The GBA refers to an economic region of South China encompassing Hong Kong, Macau, and nine mainland cities. The region has upwards of 70 million people and accounts for nearly 40% of China's exports ­ mostly electronics. On account of its innate advantages and new initiatives, there is a strong push for the GBA to become a leader in biotech moving forward.What are these advantages and initiatives, and what does that mean for biotech companies?Starting with innate advantages, Hong Kong has always been at the forefront of modern biomedical research. If you look up any discipline on Google Scholar, you'll be able to find an academic from Hong Kong who ranks among the top five most cited. On the investment side, financial institutions have always appreciated Hong Kong for its efficient taxes and progressive capital controls. More fundamentally, the ease of business, unrestricted networks, stable currency, and strong legal protections through an enforceable, navigable common law secures Hong Kong as an irreplaceable establishment for international business. That being said, there are still some notable shortcomings which is why new initiatives have been implemented to abate them.Yes now that you mention it, I rarely hear of any major pharmaceutical or biotech company coming out of Hong Kong. It's always been Boston, Japan, Germany, and the UK but it sounds like Hong Kong should have had a more prominent footprint.You're right - we have a lot of capital and a lot of impressive science, but very few starring companies. The reason for this is a couple of key gaps to the city's infrastructure - the first being a lack of exit pathways for investors and the second being a lack of experienced company builders.By Emmanuel Hui, Principal, PentepebbleHONG KONG'S YOUNG "BARON OF BIOTECH": LOOKS FOR FRIENDSEmmanuel HuiIN MY OPINION
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