GNX and Three Japanese Firms Setting Up a Biotech Joint Venture(2011/8)

August 30th, 2011 | Categories: 2011 | Tags:

Source: http://cens.com/cens/html/en/news/news_inner_37495.html
Taipei, Aug. 30, 2011 (CENS)–GNX, a Taiwanese biotech firm, signed a memorandum of understanding with three Japanese firms, including Mitsubishi Gas Chemical and MGC, on Aug. 29 for setting up a joint-venture mega protein medicine plant to provide to the global anti-cancer medicine market.

The MOU was signed during a meeting at Imperial Hotel Tokyo, under the witness of Christina Liu, minister of the Council for Economic Planning and Development (CEPD), who is leading a delegation to solicit Japanese investments in Taiwan.

During the occasion, Taiwan Land Development Co., Ltd. also signed an MOU with Med-1 Asia of Japan for jointly investing NT$100 million in a nursing-home project in Hualien.

The GNX projects calls for an investment of 10 billion Japanese yen (NT$3.7 billion). Under the cooperation, GNX will be responsible for R&D, Mitsubishi Gas Chemical for production, while two subsidiaries under MGC will take care of marketing. Chang Tung-hsuan, chairman of GNX, noted that cooperation with Mitsubishi Gas Chemical can shorten the time for medicines under development to hit the market and raise their market prices. To raise the fund for the project, GNX plans to list its shares on the emerging enterprise market in November and over-the-counter market next year.

Meanwhile, Med-1 Asia will set up a medical center for senior citizens in the projected nursing home in Hualien, which covers a space of 11.2 hectares.

(by Philip Liu)

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