Taiwan's PITDC signs a deal with PharmaNet CRO
28, Jun 2011
To expand the presence of Taiwan based pharmaceutical companies, the nation is collaborating with a leading western CRO, PharmaNet Development Groups. Three Taiwanese organizations signed the mutual cooperation agreements with the CRO during the opening day of the BIO International Conference here.
The first Memorandum of Understanding (MOU) was signed by Dr Lo, director of Taiwan’s non-profit Pharmaceutical Industrial Technology Development Center (PITDC) and Ms Isabel Desmarais, vice president of PharmaNet. Another MOU was signed between PharmaNet and Taiwan’s drug manufacturer, Pei Lei Pharmaceutical Company.
The agreements were witnessed by Taiwan’s Minister Dr C Y Cyrus Chu, who is advising the nation’s science and technology sector as minister without portfolio.
“We will be using our international experience in clinical development and regulatory affairs with PITDC and send our experts to organize various training programs in Taiwan,” PharmaNet’s Ms Desmarais told the BioSpectrum after the MOU signing ceremony.
PITDC’s Dr Lo said the organization will eventually use PharmaNet’s wide network of experts to conduct clinical trials of drugs developed in Taiwan in European and US markets.
“As a national we have extremely talented pharma experts, excellent venture capital community and some great institutions. But we have not tapped this expertise further to commercialize the products,” Minister Chu said. “Perhaps it is a cultural thing as scientists here believe making money is a bad thing. But we are trying to change that,” added the minister, an economist trained in the US.
This is the context in which the MOU with PharmaNet becomes important. PharmaNet is a global clinical research service company with capability to conduct all four phases of clinical trials. PITDC will leverage these services to train Taiwan companies in technical support, regulatory processes and correct submission of dossier and clinical trial data.
The deal between Pei Li and PharmaNet is slightly different. Pei Li has Taiwan FDA certified manufacturing facilities which specialize in production of hormones. The company also specializes in controlled release products for chronic indications and hormones. Pei Li will be able to expand its operations to global markets with the support of PharmaNet.
On the occasion, PITDC also signed an agreement for co-develop of some its drugs with Aihol Biomedical. The deal involves the formulation development of PITDC’s drug candidate, IBD98M which is currently indicated for inflammatory bowel disease. This biosimilar product will be co-developed by Aihol further with Holy Stone Healthcare of Taiwan to treat other diseases. The annual revenue potential of this disease is estimated to be $ 5 billion.