Formosa Pharmaceuticals News

Formosa Pharmaceuticals announce registration on Emerging Stock Board of the Taipei Stock Exchange (TPEx)

TAIPEI – October 5, 2021 – Formosa Pharmaceuticals (“Formosa”, stock code: 6838) announce its registration on the Emerging Stock Board of the Taipei Stock Exchange (TPEx) as of October 7.  The listing price is NT $32 per share (approx. USD $1.15).

Formosa Pharmaceuticals (6838) was established in 2010 and has a paid-in capital of NT $988 million (approx. USD $35.4 million).  In addition to largest shareholder, Formosa Laboratories (stock code: 4746), other prominent investment firms include China Development Industrial Bank (CDIB), China Trust Bank Corporation (CTBC), Chailease Finance, Industrial Technology Investment Corporation (ITIC), United Microelectronics Corp (UMC), Savior Lifetec Corporation (SLC), Cathay Venture, Inc., Black Marble Capital Management, H&Q Asia Pacific, and Concord Venture Capital Group.

Formosa Pharmaceuticals focuses on therapeutic areas ranging from ophthalmology to oncology and anti-infectives.  Its lead asset, APP13007, currently in Phase 3 clinical trials in the United States for inflammation and pain after cataract surgery, was recently licensed to China Grand Pharmaceuticals for the Greater China territory.  Furthermore, Formosa’s proprietary nanoparticle formulation platform, from which APP13007 is derived, is available for co-development of novel formulations of drugs which suffer from poor dissolution and bioavailability. 

In addition to APP13007, Formosa Pharma is also developing TSY-0110, a biosimilar of the antibody-drug conjugate, Kadcyla®, for the treatment of HER2 positive breast cancers.

“We are in a unique and strong position to offer these novel programs through the support of Formosa Laboratories and partnership with EirGenix.  In concert with Taiwan’s strong biotech ecosystem, we have the opportunity to continue development and maximize the equity of our shareholders” said Dr. Erick Co, Ph.D., Chief Executive Officer of Formosa Pharmaceuticals.

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