NEWS


Date:2017-09-28

CHO Pharma Inc is listed as company on the emerging stock market and aims to be the TSMC in the biotechnology industry

 

 Reported by Chen, YungJi in Taipei

 Based on glycan technologies developed in Academia Sinica, the highly anticipated CHO Pharma Inc (TWSE #6586) is listed as company on the emerging stock market today. The company chairman, Dr. Chen, Lan-Bo, announced to the full house of legal persons and investors in the road show yesterday that with the global leading glycan technology, CHO Phamar Inc will enter the biosimilar drug market and become the “TSMC in biotechnology industry.”

Dr. Chen, Lan-Bo, the chairman of the Cho Pharma Inc, announced the company would enter biosimilar drug market.

 

Dr. Chen said CHO Pharma Inc used to focus only on new drug development because it was equipped with advanced research and development technologies developed in Academia Sinica. However, the pharmaceutical money mostly went to India and Korea. Particularly, the Korean pharmaceutical industry is admired by making tremendous earnings. But Dr. Chen does not agree with this so-call achievement because those profits are mostly from producing biosimilar drugs. CHO Pharma could easily create another drug by cutting off a glycan from a drug with the expired patent and attaching another glycan back. This kind of OEM business will be more than enough!

Dr. Chen indicated that the experience CHO Pharma Inc accumulated in glycochemistry, glycobiochemistry, glycan synthesis and mass production surpassed any company in the world. Especially for difficult tasks such as glycan synthesis and mass production, CHO Pharma is the only company in the world that can achieve the tasks. Actually, even US FDA wondered how CHO Pharma can mass produce such complex carbohydrates. But CHO-H01, the antibody drug that treats blood related cancer, was approved by US FDA as Investigational New Drug (IND), demonstrating that FDA recognizes this technology.

CHO Pharma announced that CHO-H01 will enter clinical trial in the US in the 4th quarter of this year. Another product, CHO-A04, a monoclonal antibody that was rapidly developed, can treat many cancers such as triple-negative breast cancer and pancreatic cancer that do not have an effective treatment drug yet.

CHO Pharma Inc was established in March 2013. Its current contributed capital is 1.807 billion New Taiwan Dollars. The majority single legal person shareholder is the Academia Sinica with 33.2% share holdings. The second largest shareholder is Diamond Biofund, which was co-funded by Microbio group (TWSE # 4128), Fubon Financial, Taishin Holdings and Ruentex Group, with 11.07% holding. The subsidiaries of Ruentex Group, including HweiHon Capital, ChangChun Capital, and Yitex Capital are the next large share holders with 6.86%, 5.87%, and 5.15% of holding, respectively. Other major legal person shareholder is E.SUN Venture Capital with 4.07% holding.

Original article website: http://news.ltn.com.tw/news/business/paper/1138844

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