Taiwan and US cooperate on development of new pharmaceuticals

June 30, 2004

Taiwan's Industrial Technology Research Institute (ITRI) ITIC Fund and Development Center for Biotechnology (DCB), both organizations under the MOEA, have signed a cooperation agreement with Bridge Pharmaceuticals Corporation, a subsidiary of independent US research and development organization SRI (Stanford Research Institute) International in San Francisco on June 8. This plan will utilize technology, personnel and facilities in Taiwan to work on the development of new pharmaceuticals. As this is the first cooperation project between a San Francisco-based biotechnology company and Taiwan, San Francisco mayor Gavin Newsom personally presided over the signing ceremony.

A number of Taiwan government officials also participated in the ceremony, including Executive Yuan minister Lin Feng-ching, MOEA technology consultant Yi Fu-shou, DCB director Hwang Jui-lien, ITRI president Johnsee Lee, and officials from the Council of Economic Planning and Development, Council of Agriculture and Industrial Development Bureau. Minister Lin stated that this cooperation plan demonstrates that Taiwan's biotech research and development capabilities are steadily gaining the affirmation of international organizations.

Under this plan, the DCB's animal laboratory and protein pharmaceuticals plant will cooperate with Bridge to enhance the center's new pharmaceuticals development capabilities. It is reported that Bridge will bring six new pharmaceutical R&D plans from US universities. DCB will initially focus on conducting preclinical animal testing for breast cancer and other forms of cancer. In the future, the DCB's protein pharmaceuticals plant may also produce trial drugs for clinical testing.

Bridge executives noted that the main reason for choosing to work with Taiwan is that R&D costs are over half less than in the US. They also stated that, in addition to cooperating on pre-clinical testing, Bridge also hopes to find partners in Taiwan to conduct clinical testing.

Bridge, which is focused on the cost-effective development of FDA-compliant therapeutic drugs in Asia for the US and EU markets, posts an initial capitalization of USD 5.5 million, with USD 2 million coming from SRI and USD 3.5 million from DCB, ITRI, US venture capital firm WI Harper and Taiwan's YFY Biotechnology. (IDB, China Times)

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