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Vice-President-elect Attends AmCham Event on Biotech

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On April 21, AmCham hosted Vice-President-elect Chen Chien-Jen at a special luncheon event, Opportunities and Challenges for Taiwan to Become a Biotech Hub in Asia. Dr. Chen sent a strong signal to the AmCham community that the new administration is committed to creating a favorable environment for biotech in Taiwan.

Dr. Chen was joined by other members of the newly minted cabinet, including Minister-designate of Health and Welfare Lin Tzou-yien, Minister-designate of Economic Affairs Lee Chih-kung, and Minister without Portfolio-designate Wu Tsung-tsong.

Sponsored jointly by the Medical Devices, Pharmaceutical, and Public Health committees, the luncheon held at the Sherwood Hotel featured presentations by AmCham chairman Dan Silver and standing Vice-Chairman Margaret Driscoll.

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Silver kicked off the event with an overview of the latest advances in medical devices. Bringing together IT, big data, and mechanical and biological engineering, they promised better and more cost-effective healthcare.

Silver observed that Taiwan is well-positioned to leverage its strengths in medicine and IT for a bright future in biotech, provided that Taiwan can provide a regulatory environment that facilitates innovation.

Taiwan is well-positioned to leverage its strengths in medicine and IT for a bright future in biotech, provided that Taiwan can provide a regulatory environment that facilitates innovation.

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Driscoll’s presentation on the pharmaceutical industry noted the lengthy time frames and high costs of developing new drugs, and observed that Taiwan’s highly innovative biotech industry would benefit from developing partnerships with multinationals to build global competitiveness.

Some highlights from luncheon and Q&A include:

  • The new administration is “not waiting for May 20 (Inauguration Day)” but is already working with the outgoing administration and the Legislative Yuan to increase support for biotech.
  • The new government pledges to accelerate the review of clinical trials and supports a bill that has been submitted to the Legislative Yuan to reorganize the Center for Drug Evaluation to speed up the approval process for new drug applications.
  • An inter-ministry task force on biotech will be created, coordinated by Minister without Portfolio-designate Wu and including representatives from the Ministries of Health and Welfare, Economic Affairs, and Science and Technology.
  • The new administration is looking to increase collaboration between Taiwanese biotech firms and multinationals as well as among research institutions, government, and corporations to expand Taiwan’s overall biotech industry.

 

Taiwan Biotech Industry Heats Up

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Biotech is hot in Taiwan, with a number of high profile companies emerging over the past few years with significant market capitalizations on the promise of bold new drugs and the incoming administration of Tsai Ing-wen promising even greater support.

At the AmCham Medical Devices, Pharmaceutical, and Public Health Joint Committee Luncheon on April 19, Dr. Chi Wei-kuang, Director and Distinguished Scientist of Bioengineering Group at the Development Center for Biotechnology (DCB) shared “Taiwan’s vision and current stage in biotech industry.”

Some key takeaways offered by Dr. Chi include:

  • Taiwanese firms are involved in both the production of conventional “small molecule” pharmaceuticals as well as the development of cutting edge “large molecule” biological drugs derived from cells
  • Taiwan’s biotech firms include Taimed, Medigen, TaiGen, TopoGenomics, TTY Biopharma and many others with a combined market cap of US$23 billion
  • Taiwan currently has 96 drugs in the development pipeline, over half of them in Stage 2 clinical trials
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Dr. Chi Wei-kuang presents the Taiwan biotech industry’s “Diamond Action Plan” to AmCham Taipei leaders.

The newer field of Biological drugs is seen as offering highest value with lower capital investment and operating costs, where key areas for drug development include oncology, central nervous system (CNS) disease, infectious disease, and inflammation and autoimmune diseases.

Since the early 1980s Taiwan’s government has been offering support to the biotech industry through a number of policies and organizations, but major funding for the industry only occurred over the last 5-6 years.

Key policies to watch for the Taiwan Biotech Industry:

  • Statute for the Development of Biotech New Drug Industry
  • Biotech Industry Takeoff Action Plan
  • Diamond Action Plan for Biotech Takeoff

Key organizations involved in the industry’s advancement

  • Development Center for Biotechnology (DCB)
  • Taiwan Food and Drug Administration (TFDA)
  • Biomedical Engineering Research Center (ITRI)

Funded by the Ministry of Economic Affairs, Taiwan’s DCB offers support bridging the gap between primary research and drug commercialization. The National Research Program for Biopharmaceuticals will expire in 2016, but will be replaced by the BioEconomy Plan.

Taiwanese biotech firms, though small, are highly innovative and are actively collaborating with foreign firms for advanced clinical trials and drug development. Continued government support is vital for the industry to fulfill its vision.

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AmCham Taipei Vice Chairwoman Libby Driscoll (left) and Chairman Dan Silver (right) present Chi Wei-kuang with a token of appreciation following his presentation.