Navigation Links
TaiGen Biotechnology Secures 37 Million USD in Series C Round Financing

TAIPEI, Taiwan, Jan. 20 /PRNewswire-Asia/ -- TaiGen Biotechnology Co., Ltd., a privately-held pharmaceutical company focused on developing drugs to treat infectious diseases, cancer and diabetes-related complications, announced that it has raised 37 million USD through the private placement of preferred C stock from its existing shareholders and new investors, including MPM Capital, National Development Fund, YFY group, Taiwan Sugar Corporation, Yao-Hwa Glass Management Commission and Taiwan Global BioFund. This new round of financing was completed through TaiGen Biopharmaceuticals Holdings Limited (Cayman), the parent company of TaiGen Biotechnology Co., Ltd. The proceeds are to be used primarily for advancing its global clinical development of Nemonoxacin in MRSA infections, its first-in-class stem cell mobilizer, TG-0054, in stem cell transplant, chemosensitization and tissue ischemia, and its hepatitis C protease inhibitor program.

Dr. Ming-Chu Hsu, President & CEO said, "We are very pleased to have completed this round of financing. Being able to raise funds in the current challenging financial market is a strong validation of the value of our research programs and the significant progress we made in the past few years in our clinical development programs. The additional capital will allow us to continue building a robust and innovative product pipeline. This round of financing will greatly expedite our growth."

About TaiGen Biotechnology Co., Ltd.

TaiGen Biotechnology Co., Ltd., ( is a leading development stage pharmaceutical company based in Taiwan with a wholly-owned subsidiary in Beijing, China. The company is developing novel therapeutics to treat infectious diseases, diabetic complications and cancer for the worldwide market. TaiGen has a full capacity in new drug R&D and clinical development in China, Taiwan, US and other countries. The company's in-house R&D has developed first-in-class drug candidates and the first such drug, a stem cell mobilizer TG-0054, is completing phase 1 trial in the US. TaiGen plans to develop TG-0054 for stem cell transplantation, chemosensitization, critical limb ischemia and age-related macular degeneration. Nemonoxacin, a broad-spectrum non-fluorinated quinolone achieved the non-inferiority clinical cure rate compared with levofloxacin and both drugs have comparable safety profile in the phase II trial of community-acquired pneumonia. The second on-going phase II trial of nemonoxacin is to demonstrate the anti-MRSA activity of the drug in diabetic foot infection (DFI) with oral administration. TaiGen has an advanced HCV protease inhibitor program in preclinical development.

TaiGen plans to commercialize nemonoxacin in greater China and ASEAN countries. The on-going "first-in-class-new-drug" trials in China are slated to launch the product in China in 2011. Together with its licensor P&G Pharmaceuticals, the company will out-license nemonoxacin for the US/EU/Japan market.

        Contact Information:

         Gloria Hsieh, Ph.D.
         Director, Public Relation & Business Development
         Tel: +886-2-2790-1861 ext. 1722
         Fax: +8862-2790-9962
         Add: 7F, 138 Shin Ming Rd., Neihu Dist., Taipei, Taiwan 11470, R.O.C.

SOURCE TaiGen Biotechnology Co., Ltd.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
2. New White Paper Details Strategies for Biotechnology Companies to Improve EH&S Compliance
3. Thomson Scientific to Host Pharmaceutical Vision - A Users Conference for Information, Regulatory Affairs, Competitive Intelligence and Biotechnology Professionals
4. Lixte Biotechnology Holdings, Inc. Announces the Initial Trading of Its Common Stock Under the Symbol: LIXT
5. Luminex Corporation to Present at Biotechnology Industry Organization Investor Forum
6. An Uncommon Eye: Photography Exhibit by Biotechnology Executive at BHCC Gallery
7. Onyx Pharmaceuticals to Present at Biotechnology Industry Organization Investor Forum
8. Leading Biotechnology Company Grows with StayinFront CRM
9. Kosan Biosciences to Present at the Biotechnology Industry Organization Investor Forum
10. Wyeth Pharmaceuticals Acquires Haptogen Ltd. to Boost Biotechnology Drug Discovery
11. Bionovo to Present at the Biotechnology Industry Organization (BIO) Investor Forum
Post Your Comments:
(Date:11/24/2015)... ... 2015 , ... Copper is an essential micronutrient that all ... copper is also toxic to cells. With a $1.3 million award from the ... a systematic study of copper in the bacteria Pseudomonas aeruginosa (P. aeruginosa), a ...
(Date:11/24/2015)... -- Clintrax Global, Inc., a worldwide provider of clinical research services headquartered ... the company has set a new quarterly earnings record in Q3 ... posted for Q3 of 2014 to Q3 of 2015.   ... , with the establishment of an Asia-Pacific ... United Kingdom and Mexico , with ...
(Date:11/24/2015)... ... November 24, 2015 , ... The Academy of Model ... Group (SIG), MultiGP, also known as Multirotor Grand Prix, to represent the First–Person View ... years. Many AMA members have embraced this type of racing and several new model ...
(Date:11/24/2015)... -- Tikcro Technologies Ltd. (OTCQB: TIKRF) today announced that its Annual General Meeting ... Israel time, at the law offices of ... th Floor, Tel Aviv, Israel . ... Izhak Tamir to the Board of Directors; , election of ... approval of an amendment to certain terms of options granted to our ...
Breaking Biology Technology:
(Date:11/4/2015)... ALBANY, New York , November 4, 2015 /PRNewswire/ ... According to a new market report published by Transparency ... Size, Share, Growth, Trends and Forecast 2015 - 2022", ... value of US$ 30.3 bn by 2022. The market ... during the forecast period from 2015 to 2022. Rising ...
(Date:10/29/2015)... Daon, a global leader in mobile biometric ... new version of its IdentityX Platform , IdentityX ... have already installed IdentityX v4.0 and are ... FIDO UAF certified server component as an option ... features. These customers include some of the largest and ...
(Date:10/29/2015)... , Oct. 29, 2015 Today, ... a partnership with 2XU, a global leader in ... a smart hat with advanced bio-sensing technology. The ... athletes to monitor key biometrics to improve overall ... partnership, the two companies will bring together the most ...
Breaking Biology News(10 mins):