Why Hawaii?

Several reasons make Hawaii a viable place for Hawaii Biotech:

• Large University of Hawaii Research Effort
• Important Tax Credits
• Clinical Trial Center

Large University of Hawaii Research Effort
Hawaii Biotech is a potential beneficiary of a much larger biotech research effort occurring at the University of Hawaii (UH). UH has established a new $150 million biomedical research facility, which will house 30-40 new biotech researchers. When combined with more than $50 million in biotech related research currently in place at UH, this expanded effort is expected to provide a catalyst for the development of the biotech industry in Hawaii.

As the largest, most well established biotech company in Hawaii, Hawaii Biotech is uniquely positioned to benefit from this research. We have excellent long term relationships with UH and their technology transfer office, as several of the Company’s founders were faculty members at UH.

Important Tax Credits
The State of Hawaii offers a 20% refundable tax credit for qualified R&D, including clinical trials, conducted in Hawaii. No State tax liability is needed to claim this credit and its refundable nature makes this credit an additional source of financing for Hawaii Biotech. In addition, Hawaii offers 100% State tax credits to Hawaii investors who invest in Hawaii biotech (and other qualified high tech) companies.

Clinical Trial Center
Hawaii is emerging as a preferred location for human clinical trials conducted by major pharmaceutical, biotech, contract research organizations (CROs), and site management organizations (SMOs) looking to bridge Caucasian, Japanese, and other Oriental populations. Hawaii’s dense population and ease of patient recruitment gives it a competitive advantage compared to other areas in the country with a large Japanese ethnic population. In addition, Hawaii has developed clinical development capabilities that have attracted non-ethnic studies as well.

Close to 300 clinical trials are currently underway in Hawaii. Sponsors and managers include each of the ten largest global pharmaceutical companies, 42 of the 50 largest pharmaceutical/biotech companies, major CROs and SMOs, and government agencies, including Merck, Pfizer, Amgen, Lilly, GlaxoSmithKline, Biogen-Idec, Quintiles, Covance, Radiant Research, and the National Cancer Institute. This clinical trial capability provides Hawaii Biotech with convenient access to a critical mass of infrastructure important to its value creation strategy.