Novotech, Australia-headquartered clinical Contract Research Organization (CRO) that partners with biotech companies to accelerate the development of advanced and novel therapeutics at every phase, has signed a Memorandum of Understanding (MoU) with Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITPL). 

The MoU aims to enhance clinical development assistance for biotech companies and other community companies within the new approximately 87-hectare Hong Kong-Shenzhen Innovation and Technology Park. Novotech was among 14 international companies invited out of some 60 partners from nine economies to collaborate with HSITPL. 

As part of the collaboration, Novotech intends to provide consultation services to the Park's community companies and leverage its expertise to expedite clinical trials development for biotech companies at the Park. 

HSITPL intends to work in partnership with Novotech to assist the community companies within the Park in their development and growth throughout their journey, while also facilitating and furnishing essential support and resources to Novotech for establishing R&D centres within the Park. 
 
‘With its strategic location, the Park will form part of the Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone to become a key area of I&T (innovation and technology) development that transcends beyond our boundary with the Mainland. With the Park fast approaching the operational phase, it will integrate with and help drive our national development. Hong Kong will continue to join hands with Shenzhen to work out various innovative and cross-boundary facilitation measures for the benefit of our partners in the Park and beyond,’ said John Lee, Acting Financial Secretary, Hong Kong government.