Eirgenix hopes to become the TSMC of the biotech field

By John Liu, The China Post

TAIPEI, Taiwan — Eirgenix Inc. (台康生技), established by the Development Center for Biotechnology (DCB) to specialize in protein related drugs, was unveiled to the public yesterday. The DCB combined resources from both public and private sectors to set up Eirgenix, and provided core technology and human resources to the new venture. Eirgenix is also the largest spin-off company set by the Ministry of Economic Affairs in terms of number of staffs in recent years. Economic Affairs Minister Chang Chia-juch (張家祝) attended the ceremony yesterday and said that he hopes Eirgenix will eventually become Taiwan Semiconductor Manufacturing Company (TSMC) of the biotechnology field.

Eirgenix will focus in protein-related drug manufacturing, strive to reach the break-even point in two years, and get initial public offering in 2007, sources said. EirGenix is a contract development and manufacturing organization providing services to support the development, analytical testing, and cGMP manufacturing of biopharmaceuticals from pre-clinical to commercial manufacturing. DCB Chairman Johnsee Lee (李鍾熙) said that Eirgenix will provide manufacturing as well as research and development services for local biotechnology companies, which may as a result enjoy exponential growth in the future. Eirgenix has an asset value of NT$540 million, and its major shareholders include listed company Formosa Laboratories, National Development Fund, CTBC Capital, Waterland Venture Capital, among others. National Development Fund holds 15 percent of the shares. Eirgenix was formerly DCB’s pilot manufacturer producing new drug cGMP. Eirgenix is also the first cGMP company that meets the US’s FDA standard. According to Eirgenix’s President and CEO Liu Lee-cheng, the company’s mission is “to provide the high quality and cost effective services for our clients, and to develop high quality and cost effective biosimilars and biobetters together with partners to benefit the community and society as a whole.”