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15 billion in biotech venture capital to be raised this year
Taiwan News, Staff Writer
2014-04-11 01:44 PM
The biotech funds of China Steel (2002), YFY Inc. (1907), Ruentex Industries (2915), and Industrial Bank of Taiwan (2897) have recently announced the start of a new round of fundraising. The total fundraising scale of all four funds combined is approximately NT$12 billion to NT$15 billion.

China Steel’s TaiAn Technologies expressed on Thursday that it expects to start a new round of fundraising in the latter half of the year with a target between NT$1 billion and NT$ 2 billion to be named “Eminent Venture 3”.

TaiAn Technologies is the fourth company this year to announce fundraisings. The others include Ruentex Chiarman Samuel Yin managed Diamond Bio Venture, YFY’s Taiwan BioVenture, and Industrial Bank of Taiwan’s Boston Life Science Venture. Fund raising targets for single funds exceed NT$6 billion.

TaiAn Technologies president Chester Ho pointed out that he is bullish on global and local new medicine deployment potential and will continue investment. TaiAn Technologies shareholders include China Steel, National Development Fund, Executive Yuan, and the Far Eastern Group’s China Chemical & Pharmaceutical (1701). It has invested in biotech for over 10 years and its Eminent Venture 1 and 2 are valued at NT$1 billion and NT$1.2 billion, respectively. Over the years, these funds have successively invested in innovative biotech companies such as Taiwan Liposome (4152) and PharmaEssentia (6446). Between NT$500 million – NT$ 600 million in cash remain on hand for investment.

In terms of investment planning, Ho states that TaiAn’s Eminent Ventures will continue targeting new drugs, medical equipment, and does not rule out investing in the agricultural biotechnology sector’s biomass energy. Foreign and domestic investment proportion will be approximately 40% and 60%, respectively.

With an eye on new drug development in Taiwan, Diamond Bio Venture revealed that it will continue raising NT$4 billion to NT$6 billion in funds to cope with this year’s investments since the company has returned to profitability.

In addition, the Industrial Bank of Taiwan is set to raise NT$2 billion. Cathay Life and Shin Kong Life will also buy a 40% share as the first life insurance investors in the biotech sector.

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