The Power of Taiwanese Technology
Leveraging Taiwan’s remarkable talent pool in chemistry, some of the country’s fastest-growing companies have been concentrating their efforts on technology platforms that allow them to develop a plethora of potentially game-changing products, rather than focusing all their resources on the risky development of a single, potentially groundbreaking product.
“The true core of our company is our in-house developed technology platform, OralPAS®, a self-microemulsifying drug delivery system which allows the transformation of an existing, non-oral product (for example an injectable) into an oral dosage. In this regard, we clearly position ourselves as a technology-based biotech company rather than being focused on a specific therapeutic area,” confirms CS Hsu, president of Innopharmax, which was ranked seventh fastest growing high-technology company in Taiwan in 2015 by Deloitte’s “Technology Fast 500 Asia Pacific” ranking. “Our teams have developed our technology platform from scratch, an effort that has clearly paid off as we now hold many patents in various international markets, covering not only the commercial rights of our products but also their APIs,” he says when analyzing Innopharmax’ impressive year-on-year growth rate of 519 percent that made it one of the fastest-growing life sciences companies in the region in 2015. “The potential of our technology platform has been drawing the interest of a rapidly-growing number of international pharmaceutical companies over the past years, essentially from China or India but also from North America and Europe, and we are now involved in several commercial partnerships all around the world, ” reveals Hsu.
InnoPharmax’s focus on developing products complying with the requirements of the US FDA’s 505(b)(2) NDA, an appealing drug approval pathway that avoids unnecessary duplication of studies already performed on a previously approved drug, is actually far from unusual in the Taiwanese biotech landscape. “By fully leveraging our proprietary technology platforms, 505(b)(2) products should bring great growth prospects to the company, as many crucial treatments are still only available through injectable and/or oral dosage forms around the world,” confirms Howard Lee, chairman and CEO of Easywell Biomedicals, which was recently ranked the tenth fastest-growing high-tech company in Taiwan by the same Deloitte ranking, thanks to an eye-catching 367 percent growth rate in 2016. In this regard, Lee also highlights the importance of holding the global rights of all the company’s products under development, “in comparison to some Taiwan-based companies that rely on in-licensed products for which they only own local rights”.