Applications Open for the Asian Fund for Cancer Research’s BRACE Award Venture Competition

First of Its Kind Investment Opportunity for Asia-Based Oncology Technology Start-Ups

HONG KONG, CHINA – Media OutReach – 4 August 2020 – The Asian Fund for Cancer Research (AFCR) is now accepting
applications from oncology start-ups for the Bridging Research from
Academia to Cancer Entrepreneurship (BRACE) Award Venture Competition. The event and program uniquely supports Asian entrepreneurs’
cancer technology commercialization and start-up business efforts.

The BRACE Award Venture Competition
offers financial and other support to oncology companies which most biopharmaceutical
corporations and investors deem as at too early a stage, including those
recently spun-out of cancer research laboratories. The program avails participants
to potential investment and cash awards, key opinion leaders, insightful
feedback from life sciences industry figures, increased visibility and
credibility, and opportunity to further tap into AFCR’s extensive global
network.

Accepted BRACE Award Venture
Competition applications will be reviewed by a selection committee comprised of
leading cancer researchers and industry executives, investors and entrepreneurs.
Additionally, all accepted applications will have the opportunity to showcase
their companies and technologies in a short video to be voted on by the public
as the “People’s Choice.” Top applicants as determined by the selection
committee, along with the winning applicant of the online voting, will advance
as semi-finalists.

The semi-finalists will deliver virtual
private and confidential presentations to a world-class judging committee, and
two finalists will be selected and granted cash prizes of HK$10,000. Among the
finalists, professional due diligence will be performed in determining the
BRACE Award Venture Competition winner, which will receive up to HK$2,000,000 in
equity investment from AFCR and be announced and featured at the BIOHK2021 international
convention– scheduled for 10-13 March 2021 in Hong Kong.

“With the BRACE Award Venture
Competition and infusion of investment into its winner, AFCR aims to raise
awareness of the importance of accelerating commercialization of cancer research
innovations that could save patients’ lives” says Asian Fund for Cancer
Research Chief Executive Officer Sujuan Ba, Ph.D. “We also hope to build up
critically needed ecosystems helping life sciences entrepreneurs throughout the
Asia-Pacific region.“

“The BRACE Award Venture
Competition is an important addition to our region’s cancer technology and
biomedical industry environment, fostering ideas and approaches on the cutting
edge of research” expressed AFCR Chairman of the Board Gary
Wong, a partner of Hugill
& Ip Solicitors, which is one of the event sponsors.
“Few sources are willing to invest in high risk, pre-clinical start-ups and,
through the BRACE program, our organization is proud to be in the lead.“

Learn more about the BRACE Award Venture
Competition and apply before 31 August at https://afcr.org/en/brace-award/.

About the Asian Fund for Cancer Research

The Asian Fund for Cancer Research (AFCR) is a
non-profit organization committed to curing cancers that have significant
impacts on Asian populations. Headquartered in Hong Kong, AFCR is uniquely
positioned to implement in Asia the newest cancer research discoveries and
technologies from around the world, investigate the distinct causes of cancer
in Asian populations through innovative genetic and molecular research, and
develop more effective therapies tailored to the region’s cancer patients. For
more information, visit https://www.afcr.org.

About Hugill & Ip Solicitors

Hugill & Ip
Solicitors is an independent law firm providing bespoke legal advice and
exceptional client service to individuals, families, entrepreneurs and
businesses, in Hong Kong and internationally. Hugill & Ip provides high
quality legal services with integrity, professionalism and respect for clients
and the community. For more information, visit https://www.hugillandip.com.

About BIOHK2021

BIOHK2021 is the upcoming annual international
convention organized by the Hong Kong Biotechnology Organization, introducing novel,
state-of-the-art biotech innovations from around the globe, with the purpose of
providing an extensive platform to allow pioneers of the industry to convene.
From infectious diseases like COVID-19, to the latest cancer treatments and
diagnostics, BIOHK2021 will cover relevant and timely topics in biotechnology.
For more information, visit https://bio-hk.com.