Taipei, Sept. 13, 2007 (CENS)--To spearhead bio-tech development in Taiwan, the National Development Fund under the Executive Yuan has decided to obtain 40% stake in a new bio-tech firm TaiMed Biologics, boasting Tsai Ing-wen, former vice premier as its chairperson and David Ho, a world-renowned AIDS researcher, as the scientific founder.

TaiMed Biologics has made a major breakthrough in kicking off its operation, announcing yesterday (Sept. 12) that it has obtained licensing of TNX-355, a new HIV and AIDS medicine, from Genentech, the largest bio-tech firm in the U.S., which is expected to hit the market in three years, following clinical tests in the U.S., Europe, and Latin America.

Having secured investment commitments of US$50 million, the new company will be become the first company in the projected Hsinchu Bio-Medicine Park, dedicating to the development and production of new bio-tech medicines, such as protein medicines and vaccines.

TaiMed Biologics will be a subsidiary of TaiMed Inc., with board directors including Tsai Ing-wen, David Ho, Wong Chi-huey, president of Academic Sinica, Taiwan`s foremost academic institution, Lee Yuan-tseh, a Nobel laureate in chemistry, Chen Lan-bo, member of Academic Sinica and honorary professor of Harvard University, and Yang Yu-min, senior vice president of Genentech, and with Morris Chang serving as the enterprise consultant. Other major shareholders include Ho Sho-chuan, chairman of Yuen Foong Yu Group and President Enterprises Group.

Ho Mei-yueh, chairperson of the Cabinet-level Council for Economic Planning and Development (CEPD), pointed that with scale of US$6.2 billion, the National Development Fund has invested US$200 million in the bio-tech sector so far.

Tsai Ing-wen played a critical role in the enactment of the "Statute for Development of Bio-tech New Medicine Industry" in her capacity as the vice premier in June this year. The statute was drafted by Wong Chi-huey of Academic Sinica, who will also join the board of directors of TaidMed Biologics.

(by Philip Liu)