HONG KONG - The University of Hong Kong (HKU) announced Monday it has established an innovations platform in collaboration with the Guangdong Pharmaceutical University (GDPU) to promote bio- and health technology and translational medical research and development in the Guangdong-Hong Kong-Macao Greater Bay Area.

The GDPU-HKU Innovations Platform, located in Zhongshan city, includes three core units - an incubation facility, a joint laboratory and a technology transfer unit, and aims at developing into a national-level technology enterprise incubator hosting at least 50 companies and incubating at least 10 HKU technologies within five years.

A satellite branch of HKU's partner state key laboratory of pharmaceutical biotechnology will also be set up at GDPU.

"The move is of great strategic importance to HKU in terms of technology transfer and commercialisation of the university's cutting-edge research particularly in the field of bio-medicine," HKU said in a press release, adding that "it is also a significant step to mark the university's presence and contribution to development in Greater Bay Area."