Former Academia Sinica president Wong Chi-huey (翁啟惠) yesterday rejected charges of financial impropriety and corruption relating to OBI Pharma Inc at a hearing at the Shilin District Court in Taipei.
“After the character assassination to smear the reputation and personal integrity of a president of Academia Sinica, what has Taiwan gained from this?” Wong said outside the court.
“What has happened is that outstanding talent who are recognized internationally will no longer return to Taiwan to contribute their know-how. It has blocked the road for their return home,” he said.
Photo: Huang Chieh, Taipei Times
“Because of this, industries are stagnating and no longer making progress. These consequences have resulted in much regret and pain for me,” he added.
While prosecutors in February dropped insider trading charges against Wong, he is still facing charges of corruption and misconduct.
Wong allegedly helped develop the key biotechnology for cancer drugs while conducting research at Academia Sinica, in exchange for shares from OBI Pharma chairman Michael Chang (張念慈), and later 3,000 shares were transferred to Wong’s daughter Wong Yu-shioh (翁郁秀).
Wong Chi-huey said the 3,000 shares were bought with money from his family’s mutual funds and were not gifts from Chang.
He added that he did not sign any technology transfer agreement, nor did he receive financial benefits from OBI Pharma.
“As the developer of the key technology, I went to present my professional opinion. How does that qualify as corruption?” he said.
“In negotiating the licensing fees for the technology transfer with OBI Pharma, the final figure we received was more than NT$57 million [US$1.92 million at the current exchange rate], which is higher than the initial offer of NT$2.5 million,” he said.
“We received a higher amount, which benefited the nation’s coffers. We negotiated a good deal, which has instead been distorted and vilified,” he added.
Wong Chi-huey also defended staffers at Academia Sinica’s Department of Intellectual Property and Technology Transfer, who negotiated the licensing fees.
“We have these outstanding negotiators, who deserve to be praised. Why have they been accused of selling technologies developed by the nation on the cheap?” he said.
He also said that prosecutors had made numerous error in reviewing and citing evidence, such as misidentifying foreign currencies which resulted in inaccurate valuations of OBI Pharma shares.
Wong is a world-renowned biochemist and has been touted as a potential Nobel Prize candidate.
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