Recently, five leading traditional industry groups have significantly expanded their biomedical investments. These groups—Formosa Plastics, Uni-President, YFY, TAYA, and YC INOX—have made substantial strides in the biomedical sector, signaling a potential billion-dollar investment surge in the latter half of the year.
Progress in biomedical investments by traditional industry groups
Formosa Plastics Group: Formosa Plastics, Nan Ya Plastics, and Formosa Biomedical have partnered with PuriBlood on blood bags, polymer medical materials, and cell therapy. Formosa Plastics has been the largest shareholder of PuriBlood since July 2021, following a significant capital injection. They invested billions in upgrading their Renwu factory in Kaohsiung to integrate PuriBlood’s polymer materials technology, targeting billion-dollar markets in implantable medical devices, solar panels, and cooling tower panels.
Nan Ya Plastics: Starting in 2022, Nan Ya has collaborated with PuriBlood, investing NT$950 million to expand the production of leukocyte reduction blood bags. This partnership aims to capture the global blood bag market in donation centers and hospitals. Recently, Formosa Biomedical also announced the establishment of a subsidiary to leverage PuriBlood’s technology in developing specialized cell separation filters and potentially cell-based new drugs.
Uni-President Group: Uni-President’s investment in Medigen Biotech has been focused on developing a new Alzheimer’s disease drug, TML-6. This project, recognized globally as one of the most challenging, recently received FDA approval for Phase I clinical trials, set to begin in Los Angeles’ Parexel hospital in July, with the goal of completing the trial by the end of the year.
TML-6 was initially a liver disease drug project invested in by Uni-President, later identified by former CDC Director Yi-Jen Su for its potential in Alzheimer’s treatment. Su Yi-Jen is now leading the development efforts, and Medigen recently completed a NT$410 million capital increase to fund Phase II trials.
YFY Group: The leading paper manufacturer, YFY, through its investment in TaiGen Biotech-KY, announced successful unblinding of Phase III clinical trial results for its flu antiviral drug, TG-1000, conducted by its Chinese partner, Joincare Pharmaceutical Group. They plan to submit a new drug application in China in the second half of this year, aiming for market entry next year.
YC INOX Steel: YC INOX’s investment in GongWin Biopharm has seen progress with its lung cancer drug, PTS302, which has entered the Chinese market. The number of collaborating hospitals is expected to reach 180 this year. Grand Faith will be listed on the OTC market at NT$142 per share on June 18.
TAYA Group: Following significant profits from previous investments in Bora Pharmaceuticals, TAYA has recently invested in Immunwork, a company developing the ultra-long-acting GLP-1 (gastrointestinal hormone) drug, TE-8105, aiming to capture the global weight loss drug market.
These developments highlight the traditional industry giants' strategic shift towards the booming biomedical sector, setting the stage for substantial growth and innovation in the industry.
Resource (Mandarin)
