Formosa Lab enters a new era of growth with Formosa Pharma, expanded CDMO service
- Formosa Lab focuses on new drug discovery, expansion of services as a contract development and manufacturing organisation, and development of formulation capabilities
Country Business Reports interviews and articles by Discovery Reports www.discoveryreports.com
Leading Taiwanese active pharmaceutical ingredient (API) specialist Formosa Laboratories (Formosa Lab) is well on its way to becoming more vertically integrated with its increasing focus on new drug discovery, its expansion of services as a contract development and manufacturing organisation (CDMO), and its development of formulation capabilities.
“These initiatives are all part of efforts to become a full-fledged integrated pharmaceutical company,” says Dr Cheng Chen-yu, chairman and president of Formosa Lab. “We’re leveraging our solid foundation in API production, strong research and development background and significant experience in developing robust current good manufacturing practices in chemical processes.”
Through its biopharmaceutical subsidiary Formosa Pharmaceuticals (Formosa Pharma), Formosa Lab ventured into new drug development,and is centred on the indications of ophthalmology, oncology, anti-infectives and analgesics.
Last year, Formosa Pharma gained access to the Activus Pure Nanoparticle Technology (APNT), and two late-stage nanoparticle ophthalmology drugs, with the acquisition of Japan-based Activus Pharma. The APNT platform plays a major role in the company’s formulation of small molecule drugs and in providing comprehensive custom synthesis services with high efficiency.
Formosa Pharma also has a co-development agreement with US-based AimMax Therapeutics to advance the Activus pipeline of products. It is also working with Taipei Medical University to develop an oncology drug, which is now at the end of phase one clinical trials.
As a CDMO, Formosa Lab has broadened its contract manufacturing operations with the launch of production lines for antibody-drug conjugates (ADC) and high-potency APIs. The company also relies on a strategic alliance with EirGenix to deliver integrated development and manufacturing solutions for all ADC components, including monoclonal antibodies, linkers and cytotoxic compounds.
In early 2020, Formosa Lab expects to expand into injectable formulation with the opening of a facility that supports manufacturing of small and large molecule drug products.
Moving towards a more expansive overseas footprint, Formosa Lab aims to bolster its presence in China and Japan via strategic acquisitions and collaborations.
Formosa Lab seeks additional valued partnerships and licensing opportunities to strengthen its API, CDMO and drug development pipeline. With stocks listed on the Taiwan Stock Exchange, Formosa Lab also welcomes institutional and retail investors who see value in its current growth initiative.
“The most important step for us now is to gain a strong foothold in the Chinese market,” Cheng says. “We’re actively looking for investment or partnership opportunities in this high-growth-potential market and will bring to the table our solid industry reputation and long-standing relationships with some of the world’s major pharma players.”