Cancer drug specialist to set up HK$600 million production line in Hong Kong

A Hong Kong company specialised in producing drugs for cancer treatment has been granted financial support from the government to set up its production line in the city’s science park under a scheme to accelerate new industrialisation.

Advanced Isotopes Technology Asia announced on Tuesday that it would invest HK$600 million (US$77.12 million) to set up three production lines at Tai Po InnoPark, under the Hong Kong Science and Technology Parks Corporation (HKSTP), with around HK$140 million expected to be funded from the city’s New Industrialisation Acceleration Scheme.

“The project will bring not only unique technology and specialised jobs, but also significant medical breakthroughs for local and regional patients,” said Kevin Cameron, the co-founder of Advanced Isotopes Technology Asia.

It is one of three companies granted funding to set up production facilities in the city under the New Industrialisation Acceleration Scheme, which was launched in September 2024.

Secretary for Innovation, Technology and Industry Sun Dong said on Tuesday that he expected over 50 more projects to be approved in the next few years for the HK$10 billion fund.

Advanced Isotopes Technology Asia noted that Hong Kong’s location makes it possible to deliver its products to most Asian markets within several hours, including mainland China, Japan, South Korea, Singapore and the wider Southeast Asia region.

It also expressed appreciation for the support from the HKSTP, which helped secure the factory location, as well as for the government’s financial support through the fund.