BIO 2001 draws large local group

Over 100 biotechnology industry leaders, venture capitalists and government officials left Taiwan on Saturday for BIO 2001-San Diego, the world's largest biotechnology trade show, to seek technology transfer and investment opportunities. The size of the delegation is expected to garner much-needed attention to the local biotech industry.

According to officials from Taiwan's Development Center for Biotechnology (生物技術開發中心), the delegation will spend the first half of this week, June 24 to 27, at BIO 2001 in San Diego, California. After the show ends, the group will visit US biotech firms in San Diego and San Francisco with an eye for partnering.

"The [second part of the trip] was set up by the Development Center's BioFronts Program, so that part will focus on technology transfer and investment opportunities," said David Silver, director of Biotecheast.com, a Web site devoted to Taiwan's biotechnology industry.

He pointed out how important international exhibitions like these are for keeping up with the latest biotech industry trends.

Leading the group is minister without portfolio Tsai Ching-yan (蔡清彥), who organized the delegation along with the Development Center for Biotechnology and the American Institute in Taiwan. Also making the trip are specialists from government research institutes, such as the Biomedical Engineering Center (生物醫學工程中心) under the Industrial Technology Research Institute (工研院), and Academia Sinica's department of BioAgricultural Sciences (生物農業研究所).

Within the past few months, the government has announced a number of new measures to boost the biotech industry, including an NT$52 billion (US$1.5 billion) five-year development fund and relaxed stock market listing rules for biotech firms.

Taiwanese investors are also jumping on the bandwagon. To take advantage of potential cash windfalls from the worldwide biotech boom, executives from some of Taiwan's largest conglomerates are heading to the event as well, including those from Uni-President Enterprises Corp (統一企業) and China Steel Corp (中國鋼鐵).

Together with the over 200 venture capital firms that dot Taiwan's high-tech landscape, these companies have an estimated NT$135 billion (US$4 billion) set aside solely for investing in biotechnology-related ventures.

Some members of the group plan to meet with a number of companies in southern California, including Idun Pharmaceuticals Inc, Immunogenex Inc, Oncostasis Inc, Medinox Inc and New Biotics Inc, to discuss investment possibilities.

Government officials also hope to sign a letter of intent with the University of California at San Diego to encourage collaboration between researchers there and those at Academia Sinica and National Taiwan University.

Although a number of local biotech firms are also going to the show, it is unknown how many of them will be involved in the exhibition.

BIO 2001 is organized by the US-based Biotechnology Industry Organization. The exhibition has over 750 exhibitors from 33 countries around the world. Over 12,000 biotechnology professionals and academics are expected to attend the show, including delegations from Japan, South Korea, China, Hong Kong, and Singapore.

San Diego County, the site for this year's BIO 2001, is home to 216 biotech companies and 161 medical device companies that employ over 32,000 people. The total payroll for the area's life science industry is US$2 billion (NT$68 billion), with an average annual wage of US$65,000 per worker.