Taiwan In Search For JV Biotech Partners

Three US biotechnology companies - Novovax, Sparta, and Vion - havegiven a presentation at the office of the Taiwan Ministry of Economic Affairs in Taipei as part of a Taiwanese search for joint venture partners, according to the Ministry. This is the first time the MOEA has invited foreign technology companies to Taiwan and is seen as the first step by the country to improve bilateral cooperation in biotechnology. It is also part of a MOEA plan to help local companies acquire advanced technical know-how.

US-Based Search For Partners The initiative started when the MOEA commissioned the Massachusetts Institute of Technology's biotechnology center and the US-based China Partners investment consulting company to help find biotechnologies suitable for transfer to Taiwan for commercial production.

The pharmaceutical and biotechnology industries are among the 10 "star" industries selected by the Taipei authorities for an intensive program of promotion and development, and officials at the MOEA are hoping that local entrepreneurs will put a minimum of $278.6 million into the industry over the next three years. It is estimated that annual production of the local biotechnology-pharmaceutical industry over that period should be in the region of $1.64 billion, according to the Taiwanese authorities.