Hong Kong — the Best Base for Multi-Regional Clinical Trial Projects

Tigermed accelerates drug development by integrated research solutions and related supporting services to navigate customers through clinical trials and regulations.

The increasingly complex world of pharmaceuticals benefits from companies such as Tigermed to help streamline the process from startup of a new drug to getting it to markets around the world. Already the largest clinical contract research organisation (CRO) in Mainland China in terms of revenue as well as number of on-going trials in 2019, according to a Frost & Sullivan Report, Tigermed is seeing an increasing global presence. It now operates in 150 offices and sites globally, with more than 6,400 employees across 38 countries in Asia Pacific, Europe, North & South America and Africa.

With its core business in clinical trial solutions and clinical-related and laboratory services, Tigermed enables the development of drugs and medical services efficiently. “Our proven track record of quality and on-time delivery has enabled us to grow faster than the overall clinical CRO market in Mainland China,” said Jessica Liu, Vice President and Head of International Business of Tigermed. “We established the Hong Kong office to better serve local biotech and pharmaceutical companies, and expand our cross-national clinical research capabilities. As an innovation centre in the Asia Pacific region, Hong Kong could offer a more active path and environment for our global branding. It could be a base for us to manage multi-regional clinical trial projects.”

Reaching out to international investors

Tigermed listed on the Hong Kong Stock Exchange (HKEX) in August 2020 after joining the Shenzhen Stock Exchange in 2012. Liu believes that being on the HKEX will generate additional capital for the company’s development and expansion while strengthening its business profile and global presence. “It could improve our shareholder base as more international investors can now invest in Tigermed,” she elaborated. “The listing also offers an opportunity to improve Tigermed’s corporate governance. Proceeds raised through the Hong Kong IPO will be used to enhance our technology infrastructure, expand globally, and invest in promising business opportunities.”

Tigermed intends to increase its business in regulatory and clinical operations services such as outsourcing, with plans to increase its presence in the Asia Pacific region. “We continue to cultivate our talent pool—both in entry level professionals and experienced senior talents,” Liu noted. “We are diversifying our service offerings and organically enhancing our local collaborations. This allows us to provide an integrated clinical research platform to a broader range of customers and partners.”

Quick and easy clinical trial application

Liu appreciates the fast and transparent process for clinical trial applications in Hong Kong, adding that clinical trial data generated in Hong Kong can be utilised for registration in Mainland China. “If Hong Kong sites can put more resources into clinical trials, there can be more conducted,” she advised. “Biomedical companies in Hong Kong can collaborate more with Chinese ones, allowing access to a larger market and resource base.”

She further appreciates the experience and qualifications of Hong Kong staff members along with the city’s vibrant lifestyle. “Hong Kong offers a high quality of life,” she observed.