The Supreme Prosecutors’ Office Special Investigation Division (SID) yesterday closed its investigation into Yu Chang Biologics Co (宇昌生技股份有限公司), now known as TaiMed Biologics Inc (中裕新藥股份有限公司), clearing former Democratic Progressive Party (DPP) chairperson Tsai Ing-wen (蔡英文) of any wrongdoing.
The SID launched its investigation during the presidential campaign after Chinese Nationalist Party (KMT) lawmakers accused Tsai of manipulating investments by the National Development Fund (NDF) in TaiMed when she was vice premier in 2007. Tsai served as chairperson of the biotech company for several months after she stepped down as vice premier in May 2007.
The SID said Tsai did not embezzle any money in the case or abuse any funds. All the money in the National Development Fund’s investment in TaiMed was legal and clear, it said.
Photo: CNA
The SID investigated Taiwan Biopharmaceuticals Co (南華生技), which applied for National Development Fund support in 2005 and 2007, and TaiMed Biotech Fund, which applied for funding in 2007 and 2008.
Taiwan Biopharmaceuticals was to be a pharmaceutical company founded in Taiwan by Nancy Chang (唐南珊), chairperson of Tanox — a US-based biopharmaceutical company — and then-Euroc Venture Capital Co chairman Kao Yu-jen (高育仁) for the research and development of a drug known as TNX-355.
TNX-355 is an anti-AIDS drug that may prevent HIV from breaching the immune system.
The SID investigation clarified why the National Development Fund refused Taiwan Biopharmaceuticals’ TNX-355 funding request, but provided funding to Yu Chang, which was importing and developing a similar drug from the US drug giant Genentech and later acquired Tanox in 2007.
The SID said there was no evidence that the National Development Fund’s decision resulted from external factors and there was no evidence that senior government officials lobbied for TaiMed.
Documents showed the fund’s decision not to provide support to Taiwan Biopharmaceuticals Co was because Tanox had been acquired by Genentech, and Taiwan Biopharmaceuticals Co did not clearly explain its future technology sources and the company’s development structure to the fund, the SID said.
The SID said that although both TaiMed and Taiwan Biopharmaceuticals Co planned to build plants and manufacture products in Taiwan, Taiwan Biopharmaceuticals Co’s plan was to manufacture 80 percent of Tanox’s orders, but TaiMed’s proposal was that TaiMed and Genentech cooperate to develop TNX-355 and that the new drug, if developed successfully, would be manufactured in Taiwan.
The SID said the Tsai family invested in TaiMed using their own money and that all the funding was clean.
The SID said it interviewed more than 30 people during the investigation, including former premier Su Tseng-chang (蘇貞昌), former Council for Economic Planning and Development (CEPD) chairpersons Ho Mei-yueh (何美玥) and Hu Sheng-cheng (胡勝正), and Yu Chang funders David Ho (何大一), an AIDS expert, and Chen Lan-bo (陳良博), a Harvard University professor.
The SID said Hu, who may have violated laws regarding the private-public boundary, was sent to the Taipei District Prosecutors’ Office for investigation.
Hu served as chairperson of TaiMed after leaving his post at the council.
The SID also sent former National Development Fund deputy executive director James Ho (何俊輝) to the Control Yuan for investigation because it said he had inappropriately discussed Yu Chang’s proposal at Tsai’s residence and office.
In a press release, Tsai said she has always been honest about her role and involvement in Yu Chang Biologics, which she said was a collaboration between the administrative and legislative branch to promote development of Taiwan’s biotechnology industry.
However, she said the KMT administration used the case as a political tool during the presidential campaign, a move that not only tainted the reputation of several renowned scientists, but also hurt the development of the sector.
“While the [SID’s] decision has proven the innocence of the people involved, it would be very difficult for me to say that I’m happy with the results,” Tsai said.
Tsai said she was not surprised by the findings, adding that she hoped the case would be an example for elections in the future.
“We hope the mud-slinging tactics will stop right here and the national leader will no longer employ government agencies for political gain,” Tsai said.
Additional reporting by staff reporter Chris Wang
NO CONSENSUS YET: Local governments and the CECC have agreed to change the ‘3+4’ self-isolation policy, but are still mulling what to replace it with The Central Epidemic Command Center (CECC) and local governments have agreed to ease restrictions on close contacts of COVID-19 cases, although the details are still being discussed, the center said yesterday. The discussions follow Premier Su Tseng-chang (蘇貞昌) on Saturday approving a proposal to shorten the “3+4” policy — three days of home isolation followed by four days of self-disease prevention — for close contacts who have received booster doses. “We did not reach a consensus on how to revise the current restrictions, but we all agreed that the administrative burden must be reduced and the intensity of restrictions must be eased,
OPPOSING CHINESE ‘HOSTILITY’: The bill orders the state secretary to create a plan to regain observer status for Taiwan, saying Taipei is a model contributor to world health US President Joe Biden on Friday signed a bill into law to help Taiwan regain observer status at the World Health Assembly (WHA), demonstrating Washington’s support for Taiwan’s international participation. Friday was the deadline for Biden to sign the bill (S.812), which directs “the Secretary of State to develop a strategy to regain observer status for Taiwan in the World Health Organization (WHO), and for other purposes.” The 75th WHA, the decisionmaking body of the WHO, is scheduled to meet in Geneva, Switzerland, from Sunday next week to May 28. The bill, introduced by US Senator Bob Menendez, chairman of the US Senate
‘DAMOCLES SWORD’: An Italian missionary said the arrest of cardinal Zen is a blow for the church in Hong Kong, China and the world, signaling great danger ahead China yesterday defended the arrest of a 90-year-old Catholic cardinal under Hong Kong’s National Security Law, a move that triggered international outrage and deepened concerns over Beijing’s crackdown on freedoms in the territory. Retired cardinal Joseph Zen (陳日君), one of the most senior Catholic clerics in Asia, was among a group of veteran democracy advocates arrested on Wednesday for “colluding with foreign forces.” Pop singer Denise Ho (何韻詩), veteran barrister Margaret Ng (吳靄儀) and cultural studies academic Hui Po-keung (許寶強) were also arrested, the latter as he attempted to fly to Europe to take up an academic post. Cyd Ho (何秀蘭), a democracy
REACHING OUT: President Tsai expressed condolences to the deceased man’s family and wished a speedy recovery to those who were wounded in the shooting The Formosan Association for Public Affairs (FAPA) on Monday called on the US to label organizations associated with the suspect in the Irvine Taiwanese Presbyterian Church shooting as domestic terrorists, following accusations that he was a member of a group backing unification with ties to the Chinese government. David Wenwei Chou (周文偉), 68, was arrested on Sunday and is being held in lieu of US$1 million bail at the Orange County Intake Release Center over a mass shooting at the California church that left one dead and five wounded. Local police suspect the shooting was politically motivated after they found notes in
RSS