United Biomedical, Inc. and Development Fund, Executive Yuan of the Republic of China Establish UBI-Asia as a Biopharmaceutical Joint Venture.
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 1, 1998--United Biomedical bi·o·med·i·cal
1. Of or relating to biomedicine.
2. Of, relating to, or involving biological, medical, and physical sciences. , Inc. (UBI UBI Universidade da Beira Interior (Portugal)
UBI Unrelated Business Income
UBI Unified Business Identifier
UBI United Bank of India
UBI UKW-Sprechfunkzeugnis für den Binnenschifffahrtsfunk ) and the Republic of China (ROC) announced the establishment today of UBI-Asia, a joint venture between UBI and ROC aimed at accelerating the development of the ROC biopharmaceutical industry and providing UBI expanded opportunities for growth in Asia.
UBI is a privately held international biopharmaceutical company developing immunotherapeutic, vaccine, pharmaceutical, and diagnostic products for human and veterinary use.
In establishing the joint venture, UBI has granted Asian manufacturing, marketing and distribution rights of its products in development to UBI-Asia, subject to existing contractual obligations. The ROC has provided an initial investment of US$40 million to UBI-Asia, through a consortia of the following investors: Development Fund, Executive Yuan under the supervision of the ROC Ministry of Finance; the Yao Hua Glass Corporation Development Fund, under the supervision of the ROC ministry of economic affairs The following nations have a Ministry of Economic Affairs:
MOEA Multi-Objective Evolutionary Algorithm ); and Taiwan Sugar Corp., also under the supervision of the MOEA. UBI-Asia has utilized a portion of this initial investment to acquire from Roche a state-of-the-art pharmaceutical manufacturing plant in Taiwan, with the goal of augmenting the global manufacturing capabilities of UBI and thereby accelerating product development efforts.
UBI, founded by ROC-born Dr. Chang Yi Wang, is recognized as an international leader in the design, characterization and manufacture of peptide based products. UBI developed the first synthetic peptide based blood screening tests for human immunodeficiency (HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. ) and hepatitis C (HCV HCV
hepatitis C virus
HCV 1 Hepatitis C virus, see there 2. Human coronavirus. See Coronavirus. ) viruses, and produces and markets broad spectrum antibiotics. UBI has a major portfolio of products in development for prevention and treatment of human diseases including AIDS, allergy, and prostate cancer, and has platform technologies which have led to the development of synthetic peptide-based animal health vaccines for prevention of foot and mouth (FMDV FMDV
foot-and-mouth disease virus. ) disease, boar taint and pet contraception (LHRH LHRH
luteinizing hormone-releasing hormone
LHRH Luteinizing hormone-releasing hormone, GnRH, gonadotropin-releasing hormone, LRH, LRF Endocrinology A decapeptide synthesized by hypothalamic neurons which vaccine), and a somatostatin Somatostatin
A naturally occurring regulatory peptide that carries out numerous functions in the human body, including the inhibition of growth hormone secretion from the anterior pituitary gland. vaccine for promotion of growth in farm animals. The infusion of UBI's cutting edge technology and innovative products to UBI-Asia will facilitate the growth of ROC's biopharma industry. UBI and MOEA signed a strategic alliance on July 31, 1998, setting the stage for the establishment of UBI-Asia.
The Development Fund, Executive Yuan has been instrumental in leading the ROC into prominence in technologically driven industries, including the development of the ROC semiconductor industry during the last decade. Targeted strategic investments by the Development Fund, coupled with a business environment structured to provide ongoing support to public-private sector partnerships, enabled Fund supported companies such as Taiwan Semiconductor Manufacturing Corp. to rapidly attain international prominence in the semiconductor industry. Similarly, the Industrial Development Bureau (IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, ) of MOEA through its Biotechnology Industry Promotion Program, focuses on developing the ROC into a leadership position in biotechnology research, development, manufacturing, marketing and distribution. IDB of MOEA aims to create global leadership positions for ROC supported companies in the biopharmaceutical industry, and the present investment in UBI-Asia represents the first major entry by the ROC towards achieving this goal.
"UBI is honored to establish UBI-Asia as a joint venture with the ROC, and will do its best to assist the ROC in achieving its goal of accelerating the globalization of the ROC biopharmaceutical industry. It has been only two months since the signing of the strategic alliance between UBI and the government of ROC, and we are quite pleased by the commitment and efficiency through which the ROC government has gathered a premier consortia of investors for initial investment in UBI-Asia. We look forward to a long and successful joint venture, and together we have pledged to assist the ROC in achieving its vision to become a major presence in the global biopharmaceutical industry and to achieve our goal of becoming a fully integrated biopharmaceutical company developing products which benefit Taiwan and the rest of the world," said Dr. Chang Yi Wang, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of United Biomedical, Inc.