Shawn SHI MD, PHD, LLM

✨ We at Impact Circle MY are proud to share that Entomal Biotech has been named a top winner 🏆 of the Think City's Creative KL Grants Programme and Urban Challenge, receiving a substantial grant of RM200,000! 🎉 ✨ This recognition celebrates their pioneering solution, the Entomal Mobile Bioconversion System (EMBC), which employs Black Soldier Fly larvae to transform food waste into valuable resources like animal feed and organic fertilizer. This innovative approach not only reduces landfill use and incineration but also significantly cuts down on greenhouse gas emissions. 💫 A huge congratulations to the dedicated team at Entomal, especially Vic WK Pui, Thomas Pui, and Yanni Xinyan Ching, for their relentless effort and vision in turning the tide against food waste. Your work truly embodies the principle that one man’s trash is another man’s treasure. 🤝 Impact Circle proudly supports this groundbreaking initiative, which was launched in partnership with Taylor's University. This collaboration allowed students from the Bachelor of Science in Culinology program to engage in hands-on research, enhancing their educational experience while contributing to meaningful sustainability efforts. ✨ Entomal currently operates four EMBC units across the Klang Valley, with plans to expand further and empower communities, including creating job opportunities for B40 women. This project not only tackles environmental issues but also fosters social impact, aligning perfectly with our mission at Impact Circle. 🗞 For an in-depth look at Entomal’s impactful work and future plans, check out the feature published today in The Star! https://lnkd.in/gvhiaNgb 🙌 Let’s continue to support and champion such transformative solutions that drive us towards a more sustainable and liveable future. 👍 Well done, Team Entomal! 🌍💚 @impact ventures network #Sustainability #Innovation #ImpactInvesting #Biotechnology #CircularEconomy #FoodWasteManagement #EnvironmentalConservation #CommunityEmpowerment #ThinkCity #CreativeKL #EntomalBiotech #ImpactCircle #TheStar

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Private Healthcare is changing in Vietnam… Vietnam National Master Plan for the period of 2021–2030, with a vision to 2050, there should be 35 hospital beds and 19 doctors per 10,000 people, with a 15% rate of private hospital beds by 2030. Right now, the most talking over is how many private hospitals aligned with this vision 2050, even their own vision 2030 to capture 15% market share of hospital beds in Vietnam? Medically, vision is the complex, multipart process that gives our sense of sight. Similarly, a vision-2030 is complex process to establish goal for what private hospitals will be positioning in the market by 2030. In an easy way, it aligns with current performance, future trends to grow revenue YTY and EBITDA. It’s dynamic process to look at 360 degrees helicopter views to analyze the risk, investment with RoI, and incorporated with RoA. Finally, the vision-2030 needs to communicate with a creative way to inform internal and external shareholders, having an execution plan to invite everyone in the same page of commitments. Vision-2030 statement should capture the key elements of what business success looks like to make an impact in the community, Watch, and see how many private hospitals in Vietnam are working on Vision 2030….? #Vietnameseprivatehospitals #Privateequity #privatehospitals #hospitals #PEfirms

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What has changed for medical investment in China during this “Capital Winter”? I was in Korea last week but didn’t miss out on the Gaorong Capital高榕资本’s Annual Healthcare CEO Conference & Demo Day in Shanghai. It’s a close-door event hosted by Gao Rong, a leading VC in China, attended by representatives from their healthcare portfolio companies, LPs, and other investment partners. It was a great opportunity to share my thoughts on why Chinese healthcare innovators need a mindset shift to achieve their Go Global aspirations. It was also a valuable learning experience for me. Here are a few takeaways from the event: 1️⃣ New Opportunities in the “Capital Winter”: While people are talking about the "capital winter" in China, funding is still available there, and it's still more substantial compared to many other parts of the world. However, new IPO regulations have made exits significantly harder, leading investors to become more cautious and selective. They are increasingly exploring alternative opportunities, such as overseas deals and acquisitions of corporate assets. 2️⃣ Survival of the Fittest: Biotech companies that once saw big investments in China are now facing tough times for the subsequent rounds due to IPO challenges. Only those with strong resilience and adaptation are likely to survive, while others may disappear. This may not be a bad thing, as it's a natural process to eliminate excess and encourage more rational competition. 3️⃣ Increased Focus on Commercial Viability: With IPOs becoming difficult, investors are paying more attention to the commercial growth of their companies. They’re helping with business development, fundraising, and even global expansion. No one knows how long this "winter" will last, but investors are finding creative ways to support their portfolio companies and each other.  🌍 It’s all about adapting and staying strong! To all the Chinese healthcare investors and innovators out there – 加油! #Healthcare #Investment #Biotech #BusinessGrowth #China

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EXCERPTS: Drug maker HutchMed (China), controlled by billionaire Li Ka-shing, has set up its first research facility in Hong Kong, drawn by rapid growth in the city’s biotech industry following the government’s blueprint for innovation and technology which charts out the development plan over the next decade. The company’s research facility at the Hong Kong Science and Technology Park (HKSTP) in Pak Shek Kok, will conduct drug discovery work in collaboration with hospitals and university medical schools, Su Weiguo, HutchMed’s CEO and chief scientific officer, said in an interview. HutchMed aims to establish a bigger presence in the city when the first wet laboratories at the much larger Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau, next to the city’s border, are ready for occupation in 2026. “It will all be success-driven,” he [Sun Dong, Hong Kong’s secretary for innovation, technology and industry] said. “In Shanghai, we have over 200 scientists working on drug discovery. If successful here, we could grow our Hong Kong operations much larger.” Scientists at HutchMed’s Hong Kong facility will work together with university researchers to “translate” preclinical results into clinical trials. COMMENTS: Sounds encouraging, especially building-up on the Hong Kong - Shenzhen border (and a 10 minute drive from our SZ office, 30 minutes from our HK office, train and taxi) as past ideas from the likes of Cyberport with software-tech were simply not convenient nor cost effective for super savvy PRC techies. PROS: tap the great talent from Mainland China so that it doesn't become big brothers property, a real drag for many scientists that are ambitious. CONS: (1) Hong Kong has been at this biotech innovation thingy for a while now with limited success, (2) HKEX was trying to create a Nasdaq-like listing environment (e.g. no revs, no earnings) but has yet to be realized.

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𝐓𝐨 𝐔𝐒 𝐨𝐫 𝐍𝐨𝐭 𝐭𝐨 𝐔𝐒? 𝐓𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧. 🇺🇸 🌏💡 For many startups we meet at Heal Venture Lab, a Asia-focused health tech accelerator, the decision of where to scale is crucial. Historically, the U.S. healthcare market was a clear answer, given its advanced tech ecosystem, abundant capital, and readiness for new innovations. Today, we believe that the global landscape is shifting. Whilst the U.S. healthcare market offers high potential, it’s still fiercely competitive, heavily regulated, and costly to enter and navigate. Startups that succeed typically need to establish a local presence and hire locally to break into the space. 🌍 On the other hand, Asia offers startups unique opportunities to diversify risk, access rapidly growing and aging populations, and tailor solutions for specific healthcare needs across the region. Heal Venture Lab believes in testing the waters within Asia before a U.S. expansion, and we’re excited to explore this through a series of insightful webinars with industry experts. 🎙️ Join us as we kickstart a series where we invite a variety of key stakeholders to share their real-world experiences! Check out the details below for our first webinar on the biomed ecosystem, and scaling strategies in Asia vs. the U.S. #HealthTech #StartupStrategy #AsiaInnovation #ScalingInAsia #HealthcareTransformation #VentureLab #MedTech 🚀

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Major changes to HTA and drug pricing in South Korea are planned by the government and the Health Insurance Review and Assessment Service (HIRA).   To tackle so-called “Korea passing” (not launching a drug in Korea) the government will explore the potential of dual pricing.   To facilitate access to cancer therapies that have a high degree of uncertainty at launch, HIRA is considering adjusting the 5% co-payment rate for such drugs.   If a new drug has greater clinical usefulness that its comparators, the cost-effectiveness evaluation criteria will be as follows: (1) if economic evaluation data are submitted, the ICER will generally be used; (2) if economic evaluation data are not submitted, the upper limit price of the comparator is the standard; a premium of 10% of the highest comparator price may be added.   A comparable foreign drug that is not available in #Korea may be referenced if it is marketed in at least three of the eight countries used for international reference pricing.   Two new types of risk-sharing agreements— outcomes-based agreements and a partial refund of the costs of the first dose of therapy—will be added to the four existing approaches (refund of the differential between list and contract prices, a combination of conditional treatment continuation based on response and refunds, global expenditure caps, and per patient expenditure caps).   The government will overhaul certification for innovative pharmaceutical companies within the next year and potentially introduce a separate certification system for global manufacturers.   Post-marketing evaluation will be conducted for high-priced drugs that have not undergone sufficient health economic evaluation. The Ministry of Health and Welfare (MOHW) said: “If the conditions for innovation are met, we plan to flexibly evaluate the ICER value to reflect the fair value of the new drug, not limited to anti-cancer drugs or rare disease therapies.” The following criteria will apply to innovation: ● No alternative or therapeutically equivalent product or treatment ● Evidence of significant clinical improvement in hard endpoints (e.g., overall survival) ● Marketing authorisation through expedited review or equivalent status   The government plans to increase the maximum reduction rate for price-volume agreements (triggered if prescription volume exceeds forecasts by >30%) from 10% to 12.5% until the end of 2025, and then again to 15% from 2026 onwards. This mechanism applies to certain high-priced drugs that have reimbursement claims of KRW30bn ($21.7mn) or more. Concessions are available to companies that invest more than 10% of their turnover in R&D, though they will be reduced by 30% if a drug is subject to price-volume adjustments more than three times in five years. In addition, a “one-time reimbursement contract system” will be established to make allowances for cases of unforeseen surges in drug consumption—for example, in the event of a pandemic. #HTA #drugpricing #RSA

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Black Group Investment Partners with Zenzic Oasis to Advance Stem Cell Therapy for Personalised Medicine SINGAPORE – Media OutReach Newswire (https://buff.ly/3XJej0c) – 27 December 2024 – Black Group Investment Holding Pte Ltd (Black Group) and Zenzic Oasis Holding Pte Ltd (Zenzic Oasis) today announced that they have signed an investment and strategic partnership agreement with the goal of expanding the use of cell-based therapeutic solutions, including personalised treatments. Above (from left): Dr. Lim Kah Meng, Tan Zi Jing and Dato Sri’ Alan Lee Under the terms of the agreement, Black Group Investment Holding will invest in the commercialisation of Zenzic Oasis’ stem cell technologies, including induced pluripotent stem cells (iPSCs). Dr. Lim Kah Meng, the founder of Zenzic Oasis, is widely recognised for his breakthrough research on placental stem cells, which has led to the development of highly sought-after commercial products in the field of regenerative medicine. The partnership will further advance the commercialisation of these stem cell therapies by leveraging Black Group’s regional distribution networks and hospitality expertise. The key aspects of the Partnership are as follows: - Black Group will invest in Dr. Lim’s cutting-edge stem cell research and will lead the development Full Story https://buff.ly/3ZPIR01

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Biotech and medtech startups based in the People’s Republic of China (P.R.C.) are flocking to Hong Kong to float. Meng Ding explains how a combination of listing reforms and an explosion of innovation in the Greater Bay Area have led to Hong Kong’s 18A process being popular for life sciences. Read more on "Hong Kong’s Biotech Listings Emerge From Two-Year Downturn With 18As Booming."

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Healthcare Asia Magazine: Multinational investments are fueling a surge in Vietnam’s medical device sector, with international acquisitions igniting a boom in high-margin advanced equipment. As global giants pour capital into the country, Vietnam’s private healthcare system is poised for a transformative leap. Analysts project that this influx will propel the medical device market to a robust $2.5 billion (VND64.1 trillion), signaling a burgeoning frontier for investors and a promising evolution for healthcare in the region.

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💥 Good news! #QuantumPharm Inc., the holding company of #XtalPi inc., successfully went public in Hong Kong！~ On June 13, 2024, QuantumPharm Inc., successfully listed on the Main Board of The Stock Exchange of Hong Kong, with stock code 02228.HK The Chief Secretary for Administration of the Hong Kong Special Administrative Region, Mr. Chan Mo-po, the Secretary for Innovation, Technology and Industry of the Hong Kong Special Administrative Region Government, Mr. Sun Dong, the Deputy Secretary for Innovation, Technology and Industry, Ms. Cheung Man-lai, the Chairman of Hong Kong Exchanges and Clearing Holdings Limited, Mr. Tang Kar-shing, and the Chief Executive Officer, Mr. Chan Wing-tak, attended the listing ceremony, witnessing the historic moment of the birth of the first stock under the 18C clause of the Hong Kong Stock Exchange together with the #cofounders of QuantumPharm, Wen Shuhao, Ma Jian, and Lai Lipeng QuantumPharm's IPO involved a global offering of 187.373 million shares, with an issue price of HKD 5.28 per share, raising a total of approximately HKD 989 million, with net proceeds of about HKD 896 million. The public offering part of QuantumPharm's share offering was subscribed 103.35 times QuantumPharm, co-founded in 2015 by three #postdoctoral physicists from #MIT (Massachusetts Institute of Technology), Dr. Wen, Dr. Ma, and Dr. Lai, has developed into a cutting-edge, #quantum physics-based artificial intelligence empowered and #robot-driven innovative R&D platform It combines first-principles calculations based on quantum physics, AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&D solutions and services to global corporate groups and innovative companies in the pharmaceutical and #material science industries According to Frost & Sullivan, QuantumPharm's #customer base includes 16 of the top 20 #biotechnology and #pharmaceutical companies globally QuantumPharm's revenue comes from drug discovery solutions and intelligent #automation solutions #IPO #Hongkong #AI #ArtificialIntelligence #AIDrug #Drugdiscovery #Drugdevelopment #DrugTimes

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”Taiwan’s Biotech Miracle: A Vision for the Next 20 Years “ Over the past two decades, Taiwan’s biotech industry has truly proven its resilience and potential. From just 35 publicly listed biotech companies in 2005 to 220 today—a sixfold growth. Industry output has soared from NT$75 billion to over NT$750 billion, a tenfold increase. Even more impressive, the market cap skyrocketed from NT$75 billion to NT$1.6 trillion—a twentyfold leap! As we look ahead to the next 20 years, Taiwan has the opportunity to unleash even greater potential. Here are Three Arrows that can shape our biotech future: 1️⃣ Innovation & Globalization: Focus on cutting-edge R&D and expand Taiwan’s footprint in the global biotech ecosystem through international partnerships. 2️⃣ Sustainability & Precision Health: Shift toward sustainable biotech solutions and invest in precision medicine to meet the evolving needs of an aging population. 3️⃣ Digital Transformation & AI Integration: Harness the power of AI and big data to drive breakthroughs, from drug development to healthcare solutions. Taiwan’s biotech journey is far from over. With the right strategies, the next 20 years could redefine Taiwan as a global biotech powerhouse. Let’s aim higher! #TaiwanBiotech #Innovation #GlobalHealth #PrecisionMedicine #AIandBiotech

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Investing in Vietnam's Healthcare: A Long-Term Vision At a recent roundtable discussion with prominent Private Equity and Sovereign Wealth Funds in the region, i.e The Carlyle Group, Brookfield, Itochu, PIF, DEG and GIC, attention turned to the burgeoning healthcare sector in Vietnam. With shifting demographics, rising life expectancy, and increasing health awareness post-pandemic, the potential for investment is significant. Experts emphasized that successful value investing in this sector requires a long-term outlook—typically spanning at least two economic cycles, or 6 to 10 years. This timeframe is crucial due to the industry’s slow cash flow dynamics, which can be challenging for those needing quicker returns. The pandemic has heightened health awareness among the Vietnamese population, leading to greater demand for quality healthcare services and innovative solutions. Investors with lower liquidity requirements, such as family offices, pension funds, and sovereign wealth funds and specific focus alternative funds are ideally positioned to capitalize on these opportunities. By adopting a patient investment strategy, they can navigate the complexities of Vietnam's evolving market landscape while reaping the rewards of a growing healthcare sector. In a world where quick gains often dominate, a long-term perspective could yield substantial benefits in this dynamic environment.

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September 01 2024 – 5 Notable Articles To Read Article: Duality plans Hong Kong IPO to fund trials of BioNTech SE-partnered ADCs and beyond Takeaway: China’s Duality Biotherapeutics has submitted paperwork (PDF) for a Hong Kong IPO, aiming to raise an undisclosed amount to advance its extensive pipeline of antibody-drug conjugates toward approval. This filing continues the recent surge in IPO activity, extending beyond the U.S. into Asia. Source: Fierce Biotech Link: https://lnkd.in/df9vBWNd Article: Global crypto ETPs reach record high of $91.69B Takeaway: Global assets invested in crypto exchange-traded products hit a record high of $91.69B at the end of July, surpassing the previous record of $84.69B set at the end of March. Source: Funds Europe Link: https://lnkd.in/deiFzmt8 Article: Investors Brace for US Junk Debt’s Last Gasp Before Election Takeaway: According to Barclays Plc, companies are anticipated to issue between $55B and $65B in junk bonds and leveraged loans next month. This marks an increase from August’s typically low activity, when bankers and investors often take vacations, and comes just ahead of the surge in sales that usually follows the Labor Day holiday. Source: Bloomberg Link: https://lnkd.in/dZVszzgA Article: Dubai, Abu Dhabi Ranked Best Spots for Globetrotting Executives Takeaway: Dubai and Abu Dhabi are drawing a wave of senior hybrid workers in the finance and consultancy sectors, attracted by the cities’ excellent air connectivity, modern infrastructure, and high quality of life, according to Savills. Source: Bloomberg News Link: https://lnkd.in/daJPVNnT Article: National Football League (NFL) to allow private equity investment for first time Takeaway: It has designated several investment managers as preferred buyers for owners looking to sell, including Ares Management Corporation, Arctos Partners, LLC, Sixth Street, and a consortium consisting of Blackstone, The Carlyle Group, CVC, Dynasty Equity, and Ludis Capital, the latter founded and led by retired NFL player Curtis Martin. Source: Financial Times Link: https://lnkd.in/df4kuzan #news #business #research #privateequity

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E107 In this episode of Fireside with a VC, we discuss scenario planning for China & Asia and the relationship with Silicon Valley. We explore future opportunities with Francis Bassolino, Managing Director of Alaris Consulting, who has been helping companies of all sizes enter, succeed in, and exit China over a span of 30+ years. Francis is also an adjunct professor at The University of Chicago Booth School of Business in Shanghai and Chicago. Having lived in Shanghai for over 21 years and in China since 1988, he brings extensive insights into the region. Watch the full episode on YouTube: https://lnkd.in/gdseyc2d. Find all episodes of Fireside with a VC on your favorite podcast platform: https://lnkd.in/gtzuxjJh. We delve into the history of what has happened and the opening of China up to today. We also look at different scenarios such as an invasion of Taiwan, a blockade of Taiwan, no invasion or blockade, China with no reforms, with reforms, and the potential for a return to high growth in China. We examine how these different scenarios will impact the greater Asia region and the West. Our discussion includes the relationship between China and Russia, particularly days before Russia invaded Ukraine when Chinese President Xi Jinping and Russian President Vladimir Putin announced their partnership has “no limits” and vowed to deepen cooperation on various fronts, including the Russia-Ukraine war. We talk about the bargain between the Chinese people happily giving up civil liberties for a prosperous life and 10% growth consistently over decades. We also cover the impact of recent oppressive COVID-19 lockdowns, the period of low growth, the lack of job opportunities for the youth, and the generation of young Chinese not getting married, having children, or working in post-Jack Ma China. Is the Chinese economy in a freefall now? Furthermore, we discuss the evolving relationship between Silicon Valley and China, what it might look like in the future, and different scenarios and opportunities for Western companies to grow revenues and lower costs with the Chinese partnership. Links and Resources: > Learn more about Francis Bassolino and Alaris Consulting at https://lnkd.in/gfa_zzcS. > Connect with Francis Bassolino: francis_bassolino@alaris.com.cn. > Follow Andrew Romans on LinkedIn: linkedin.com/in/romans/. > Subscribe to our newsletter to get insights and favorite content from the VC startup ecosystem: subscribe.7bc.vc.

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Explore "The Catalyst for a Better Company Culture" by Seri J., which looks at how AI can positively change company culture, especially in healthcare and life sciences. Seri shares insights from the Healthcare Businesswomen’s Association panel, explaining how AI can help by taking over repetitive tasks, making room for growth and learning, improving accessibility and inclusion, and strengthening human connections. Discover the benefits of using AI to create a supportive and productive environment for employees. Read the full blog: https://lnkd.in/dQ78jN_y

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