Report: Biotech Firm Tanox Eyes Hsinchu Park

August 23, 2001 — TAIPEI — Biotech firm Tanox will reportedly raise nearly $406 million to set up shop at the Hsinchu Science-based Industrial Park.

The company will use the facility to manufacture protein drugs, according to a report in the Taiwan Economic News. The project, said to be the largest of its kind, is expected to be in full swing by 2005.

The Houston, Texas-based company develops drugs for use in the areas of infectious diseases, oncology and immunology. Tanox is currently developing new products that include monoclonal antibodies that affect autoimmune diseases, transplantation rejection and cancer.

Approximately half of the money needed to fund the project will be raised in the US, with the rest coming from banks in the Taiwan. The Executive Yuan’s Development Fund, China Synthetic Rubber Co., and Cheng Xin Development are said to be possible donors to the project.

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