The Council for Economic Planning and Development (CEPD) said yesterday it persuaded Burrill & Company LLC, a US life sciences merchant bank focused exclusively on companies involved in biotechnology and international medical industries, to invest US$30 million in Taiwanese firms.
The council said a 100-member delegation led by Council for Economic Planning and Development Minister Christina Liu (劉憶如) saw strong interest from biotechnology and medical companies in investing in Taiwan during its stay in San Francisco, part of the council’s seven-day “Invest in Taiwan” roadshow in the US.
Burrill & Company, based in San Francisco, has reached a preliminary agreement with the trade delegation to invest in Taiwanese companies to enter the Chinese and Japanese markets, the council said, adding that the US company has committed to a US$30 million investment in Taiwanese firms.
Impax Laboratories Inc, a California-based specialty pharmaceutical company that has invested US$1.1 billion in Taiwan’s Jhunan Science Park (竹南科學園區), has also promised to continue investments in Taiwan, the council said, citing the delegation’s visit on Wednesday.
The council said the delegation had visited other companies in San Francisco, including Oracle Corp, before departing for Los Angeles yesterday. The delegation is scheduled to return to Taipei tomorrow, it said.