Navigation Links
TaiGen Biotechnology Secures 37 Million USD in Series C Round Financing
Date:1/20/2009

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., (http://www.taigenbiotech.com/) 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
         E-mail: gloriahsieh@taigenbiotech.com.tw
         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:
*Name:
*Comment:
*Email:
(Date:10/10/2017)... ... October 10, 2017 , ... ... process optimization firm for the life sciences and healthcare industries, announces a presentation ... San Francisco. , The presentation, “Automating GxP Validation for Agile Cloud Platforms,” will ...
(Date:10/9/2017)... DIEGO , Oct. 9, 2017  BioTech ... biological mechanism by which its ProCell stem cell ... critical limb ischemia.  The Company, demonstrated that treatment ... amount of limbs saved as compared to standard ... the molecule HGF resulted in reduction of therapeutic ...
(Date:10/9/2017)... ... 09, 2017 , ... At its national board meeting in North Carolina, ... University’s Departments of Physics and Astronomy, has been selected for membership in ARCS ... for the 2015 Breakthrough Prize in Fundamental physics for the discovery of the accelerating ...
(Date:10/9/2017)... ... October 09, 2017 , ... ... in the medical journal, Epilepsia, Brain Sentinel’s SPEAC® System which uses the ... in detecting generalized tonic-clonic seizures (GTCS) using surface electromyography (sEMG). The prospective ...
Breaking Biology Technology:
(Date:10/4/2017)... Solutions, a global clinical research organization (CRO), announces the launch of ... 4, 2017. Shadow is designed to assist medical writers and biometrics ... the European Medicines Agency (EMA) in meeting the requirements for de-identifying ... ... ...
(Date:6/23/2017)... ITHACA, N.Y. , June 23, 2017  IBM ... in dairy research, today announced a new collaboration using ... the chances that the global milk supply is impacted ... project, Cornell University has become the newest academic institution ... Chain, a food safety initiative that includes IBM Research, ...
(Date:5/6/2017)... May 5, 2017 RAM Group ... a new breakthrough in biometric authentication based on ... mechanical properties to perform biometric authentication. These new sensors ... material created by Ram Group and its partners. This ... transportation, supply chains and security. Ram Group is ...
Breaking Biology News(10 mins):