Academia Sinica Invest Technology Shares in CHO Pharma Inc.


Academia Sinica President Chi-Huey Wong is acknowledged by US chemistry field as authority on enzyme organic synthesis and carbohydrate research. However, Dr. Wong dedicated all his patents to Academia Sinica, in hope that Taiwan can lead the world in in producing a sugar molecule new drug for the international market. 

International pharmaceutical companies all eagerly invest in the research and development of carbohydrate based new drug. Recently, Academia Sinica’s 17 patents for series of products involving glycoprotein and carbohydrate chips, have been technology transferred to CHO Pharma Inc., a company set up by Diamond BioFund Inc., Ruentex Group and E. Sun Financial Holding Company. Academia Sinica holds technology shares of 50%, with capital stock value of NTD 600 million (approx. USD 20 million), it is Taiwan’s largest technology transfer case. 
The inventor of these products, Dr. Chi-Huey Wong, President of Academia Sinica has dedicated the patents to the Institute. Dr. Wong stated that when the new drug is successfully developed, a contribution of 40% will go to Academia Sinica, and 60% to the government.

Academia Sinica announced the plan for technology transfer of sugar molecule series products from February 25 to March 10, 2013 and held a presentation on March 8. Although many companies participated in the seminar, sugar molecule technology is novel and huge amounts of funds needs to be invested. In the end, Diamond Biofund combined with financial holding groups won the bid. 
William Lu, Chairman of Microbio Group expressed that Taiwan leads the world in sugar molecule technology. The establishment of CHO Pharma Inc. is to gather funds to invest in the research so that Taiwan’s biomedical achievements can make way into the international market. 

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