Taiwan inks development deals with US biotech conglomerates

06/29/2011 Taiwan Today Taiwan's Medical and Pharmaceutical Industry Technology and Development Center (PITDC) signed a memorandum on mutual cooperation with U.S.-based global clinical research company PharmaNet Development Group Inc. June 28. "The memorandum of understanding will enhance the collaborative progress we look forward to making with Taiwan biotechnological enterprises," PharmaNet Vice President Isabel Desmarais said at the 2011 BIO International Convention in Washington, D.C., where the signing took place. "We hope to build a long-term friendship with outstanding businesses in Taiwan," she added. The PITDC also inked an agreement on co-development with Aihol Biomedical LLC on new drugs for inflammatory bowel diseases, and helped Pei Li Pharmaceutical Ind. Co. Ltd., a local company specializing in hormone drugs, team up with PharmaNet. "Taiwanese medical researchers are fully experienced in clinical trials, and their performance is the cornerstone of the nation's biotech industry," said Minister without Portfolio Cyrus C.Y. Chu. "The value chain for biotechnology is very long, however, from R&D through lengthy testing, with strict controls on drugs, before a product reaches the market," Chu said. This has been a barrier to development in Taiwan, he noted, adding that he is pushing for a venture capital platform to draw investment to the sector. Chu led a delegation of more than 100 industry representatives and scholars to the event, including Wong Chi-huey, president of Academia Sinica, and Soo Whai-jen, former senior vice president of medical research at Biogen Idec Inc. A Taiwan pavilion showcasing medical and biotech accomplishments was also unveiled at the convention to promote business opportunities from around the world.