On the 27th, Bora Group announced that its board of directors had approved a strategic alliance with Tanvex BioPharma. As part of this alliance, Tanvex BioPharma will issue new common shares to acquire shares of Bora Pharmaceutical, Bora Group’s subsidiary responsible for large-molecule CDMO (Contract Development and Manufacturing Organization) operations. The exchange will be conducted on a 1:1 basis—one share of Bora Pharmaceutical for one share of Tanvex BioPharma. Based on the current share count, Bora Pharmaceutical will acquire approximately 30.5% of Tanvex BioPharma's equity, becoming its largest corporate shareholder.
The strategic alliance is focused on leveraging the shared goals of both companies in the CDMO sector for biopharmaceuticals, as well as responding to recent industry trends and policy developments, such as the U.S. BIOSECURE Act. This collaboration aims to efficiently integrate both companies' resources to capitalize on the significant local manufacturing opportunities driven by these new regulations.
Tanvex BioPharma recently achieved a significant milestone with its biosimilar drug, Nypozi, becoming the first biosimilar developed in Taiwan to receive U.S. FDA approval. Tanvex’s San Diego facility, which has passed U.S. FDA inspections and adheres to cGMP standards, boasts extensive experience in product development and commercialization. This facility not only supports the mass production and market launch of Tanvex’s biosimilars but also plays a crucial role in advancing its large-molecule CDMO services in the U.S. market.
Bora Group's Chairman and CEO, Bobby Sheng, expressed his ambition to bring Taiwan's top-notch technology and talent to the global stage. He highlighted Tanvex’s deep expertise and capacity in developing biologics, including cancer treatments and antibody drugs. The substantial resources Tanvex has invested in its San Diego facility for commercial-scale production position it as a pioneer among Taiwanese firms entering the U.S. market. Through this strategic integration, Bora Group will become Taiwan's first company to offer end-to-end large-molecule CDMO services, from early-stage cell line screening, process development, and analytical methods, to novel biologics development, drug production, and final product filling. This comprehensive service capability will allow Bora to immediately offer local production capacity in the U.S. to meet the strong demand for contract manufacturing services spurred by the BIOSECURE Act, aligning with the critical timing and market opportunities in the global CDMO industry.
Additionally, Bora Group is optimistic about the market potential of Tanvex’s two biosimilars, Nypozi and Valheric. By leveraging Bora’s dual-engine strategy, which combines contract manufacturing services and product sales, the company aims to accelerate the launch of these products and maximize their commercial value with top-tier execution.
Tanvex BioPharma's Chairman and CEO, Henry Chen, stated that this strategic alliance with Bora Group is an excellent opportunity to integrate their strengths. He expressed confidence that Bora’s successful establishment of a global CDMO platform over the past decade, along with its reputation for high-tech, high-quality services and strong customer relationships in the international CDMO market, will significantly enhance the business development and operational efficiency of Tanvex’s CDMO facilities. This, in turn, will accelerate Tanvex’s revenue and profit growth targets.
According to the planned schedule, both Tanvex BioPharma and Bora Pharmaceutical will hold their first extraordinary shareholders' meetings in mid-October to approve the merger. Tanvex BioPharma plans to hold a second extraordinary shareholders' meeting in the first quarter of next year to re-elect its board of directors. Bora Group will nominate four directors, including two independent directors, and will recommend Bobby Sheng, Chairman of Bora Group, as the new Chairman of Tanvex BioPharma. This move will continue to drive the integrated entity’s strategic planning and growth objectives in the global biologics market.
As Taiwan’s leading CDMO company, Bora Group is currently the only Taiwanese enterprise capable of offering one-stop CDMO services for both large and small molecules. With a multinational platform covering the North American market and a total of 10 pharmaceutical manufacturing sites worldwide, Bora Pharmaceutical specializes in high-quality large-molecule development and manufacturing, along with comprehensive project management capabilities necessary for launching the most challenging biologics. Within just two years of establishing its large-molecule CDMO business, Bora Pharmaceutical has already completed several international CDMO development projects, earning recognition for its business development and execution efficiency.
This strategic alliance marks Bora Group's third major strategic project announced in 2024. It follows last week’s acquisition of a sterile injectable manufacturing plant in Maryland, USA, which bolstered Bora’s product filling capabilities for large-molecule contract manufacturing. This acquisition completes the commercial-scale production capacity for biologics that Bora previously lacked. By continuing to expand its small-molecule contract manufacturing business while adding a comprehensive large-molecule CDMO platform, Bora Group has become a truly international company with the resources and technical capabilities to offer one-stop services for both large and small molecules. This alliance marks a new chapter in Bora Group's global CDMO business growth.
Resource (mandarin): 保瑞以保生作價取泰福30.5％股權 共組CDMO國際艦隊
