Dr. Tatung Yuan, Chairman and CEO of TFBS Bioscience, Inc., announced on the 6th the investment of over 800 million NTD in the GMP virus vector factory at Hsinchu Biomedical Science Park, slated for gradual completion and operational rollout starting from the latter part of this year. The objective is to establish the most competitive virus vector Contract Development and Manufacturing Organization (CDMO) hub in Asia.
Established in May 2016, TFBS Bioscience, Inc., a subsidiary of the Biotechnology Center, stands as Taiwan's sole professional CDMO factory for virus vectors. Dr. Tatung Yuan underscored the pivotal role of virus vectors as platforms for gene therapy, cell therapy, and nucleic acid drug development.
At present, TFBS Bioscience, Inc. boasts production technologies for a range of virus vectors, encompassing Adeno-Associated Virus (AAV), Lentivirus, Adenovirus, and Retrovirus. Notably, AAV caters primarily to gene therapy needs, while Lentivirus holds significance as a virus vector for CAR-T cell therapy.
TFBS Bioscience, Inc.'s strategic investment of over 800 million NTD in the GMP virus vector production facility at Hsinchu Biomedical Science Park aims to complete a process development laboratory to address clinical phase II virus vector contract manufacturing needs by June this year. Furthermore, November will witness the completion of two 200-liter virus vector production lines compliant with GMP standards, catering to customer demands from clinical phase III to commercialization.
Prior to its Hsinchu operations, TFBS Bioscience, Inc. operated a pilot factory in Xizhi, specializing in providing virus vectors of clinical trial grade. Given the nascent stage of its virus vector business, the company's revenue primarily stems from the Contract Research Organization (CRO) segment focused on pharmaceutical biologics safety testing.
TFBS Bioscience, Inc. reported a revenue of 230 million NTD last year, marking an approximate 8% decline year-on-year, with a profit nearing 5 million NTD. Notably, the company has maintained profitability since its inception. Presently, 20% of its revenue is derived from virus vectors, with plans to escalate this contribution to 40% within the current fiscal year.
Dr. Tatung Yuan disclosed TFBS Bioscience, Inc.'s collaboration with TEIJIN Group's Cell and Gene Therapy Division in Japan. A process development laboratory in Kashiwa-no-ha, Chiba Prefecture, Japan, will commence operations from the 18th of this month, facilitating upstream and downstream process development of virus vectors for Japanese clientele. This move aims to deepen cooperation with TEIJIN Group and MediRidge Co. Ltd., facilitating the acquisition of collaboration orders from Japanese academic research units and new drug development firms.
Furthermore, Dr. Tatung Yuan noted that presently, half of TFBS Bioscience, Inc.'s virus vector customers hail from Taiwan, with the remaining half from Japan. Notably, one Japanese cell therapy customer has progressed to clinical phase I, poised for market entry post clinical phase II completion. This development is anticipated to substantially augment TFBS Bioscience, Inc.'s virus vector supply volume. Additionally, TFBS Bioscience, Inc. is slated to go public on the stock exchange this year.
