Tanvex BioPharma-KY announced its financial results for Q1 2025 on the 7th, revealing a consolidated revenue of NT$49.86 million following the completion of its merger with Bora Pharmaceuticals. This marks a new high for quarterly revenue, surpassing the total revenue of the previous year. This is also the first financial report following the merger with Bora Pharmaceuticals' macromolecule contract research and manufacturing services (CDMO) business on January 20, 2025.
Tanvex BioPharma stated that after completing the merger with Bora Pharmaceuticals, its consolidated Q1 revenue of NT$49.86 million not only set a new quarterly record but also exceeded the total revenue for the entire previous year. Of this revenue, the CDMO business accounted for 57%, approximately NT$28.41 million, mainly from ongoing services to existing clients of Bora Pharmaceuticals’ (Zhubei plant). Tanvex’s U.S. subsidiary (San Diego plant) also added a new local client by the end of last year, which contributes to long-term momentum in the overall CDMO business.
The biosimilar business (including royalty income and sales revenue) accounted for 43% of consolidated revenue, approximately NT$21.36 million in Q1 2025. Sales of TX01 in the Canadian market were nearly 60% higher than initially expected, as the visibility of the local distribution partner continues to improve, which also benefits the subsequent utilization efficiency of the San Diego plant's capacity.
Stephen Lam, CEO of Tanvex BioPharma, expressed confidence in the reorganized structure and resource allocation, emphasizing the company’s strong position in the global CDMO market. In addition to continuing projects with existing clients, the company will leverage its post-merger multinational resources to focus on targeting European and U.S. customers, particularly the local U.S. market.
He also mentioned that amid the global market's increased uncertainties due to tariffs, exchange rates, and other factors, Tanvex’s U.S. team offers local services, and the commercial-scale production capability at the San Diego plant, combined with the Taiwan team’s 24/7 operations and 100% on-time delivery, helps mitigate the risk of import tariffs for CDMO clients whose end market is the U.S. Furthermore, the ongoing 2,000-liter expansion project at the San Diego plant has attracted inquiries from several late-stage clients.
Tanvex has received a total of 31 client proposals so far this year, with potential contract values exceeding USD 80 million. During this critical period when commercial-scale production capacity in the U.S. is in high demand, Tanvex will efficiently utilize its global resources to provide unique support and innovative momentum for its clients in biologics development.
Resource: 泰福第1季營收4,986萬元、創單季新高 超越去年全年表現
