International biotech forum kicks off in Taipei

2011/07/19 Taipei, July 19 (CNA) BioBusiness Asia (BBA) 2011 got off the ground Tuesday in Taipei with the goal of fostering a favorable investment environment in the region and promoting research and development in the field of biotechnology. The two-day forum is expected to draw the participation of more than 300 venture capitalists, biotechnology experts in the medical field and pharmaceutical professionals from around the world, according to Taiwan's semi-official Industrial Technology Research Institute (ITRI). Under the theme New Asia Paradigm for Creating Biotechnology Business, the forum will feature one-on-one meetings among participants. Some 16 manufacturers of pharmaceuticals and medical instruments are expected to meet Wednesday with more than 100 local and foreign companies to discuss cutting-edge technology and products. For the first time in the 10-year history of BBA, Hong Kong has sent a delegation. Hong Kong is aiming to become a major player in the biotechnology boom and move aggressively into the field, said the ITRI, which organized the event. At the opening ceremony, Yio-wha Shau, general director of ITRI's Biomedical Technology and Device Research Laboratories, said that since the Economic Cooperation Framework Agreement between Taiwan and China took effect, international biotechnology companies from abroad have been looking to establish links with Taiwan companies in an effort to access the China market. "Taiwan must form alliances with partners throughout the world to create synergy and integrate resources in order to achieve mutual growth," Shau said.