Transformation: PharmaEssentia sees IPO as best way for research-and-development-focused organisation to become a bona fide operational and marketing firm
Emerging stock company aims to attract more foreign institutional investors to kick off its pharmaceutical production phase
Country Business Reports interviews and articles by Discovery Reports www.discoveryreports.com
PharmaEssentia, a Taiwan-based biotechnology company, expects to raise US$100 million from its initial public offering this year. With at least 40 committed financiers, the emerging stock company aims to attract more foreign institutional investors to kick off its pharmaceutical production phase as it develops powerful, safe and cost-effective therapeutic drugs.
“We are transforming the company from a research-and-development-focused organisation into a bona fide operational and marketing firm,” says Dr Lin Ko-chung, founder and chief strategic officer. “We welcome investors to break new grounds in health care.”
An innovator in the field of protein drug design, PharmaEssentia is working on a pegylation technology platform that seeks to increase a protein drug’s efficacy while minimising its side effects. It has engineered the PEG-interferon P1101, the purest interferon drug in the market branded as BESREMi.
So far, P1101 has been clinically tried to treat polycythemia vera and other myeloproliferative neoplasms or MPN, a group of diseases that affects normal blood cell production in the bone marrow. It has also achieved significant strides in effectively treating infectious diseases such as hepatitis B and C.
“With a longer half-life, BESREMi boosts tolerability and decreases side effects for patients since fewer doses of the drug are necessary,” Lin says.
PharmaEssentia is exploring new ways of doing business in Asia following the successful set-up of its operations in China. Part of its strategy is penetrating Japan and South Korea by connecting with local medical communities. It also networks with key players to seamlessly navigate the regulatory landscape.
“Our management approach is similar to the way top global biotech companies are being run,” Lin says. “Most of our funding comes from Taiwan, but with the IPO, and with patient care on top of our concerns, we are ready to expand and make more novel medications for treating human diseases.”