Foxconn Electronics (Hon Hai) founder Terry Gou will invest in EirGenix, a Taiwan-based contract development and manufacturing operator (CDMO) for biotechnological pharmaceuticals, to become its biggest shareholder.
EirGenix said the investment will be made through Hong Wei Investment, of which Gou is the major shareholder.
EirGenix has signed a letter of intent with Hong Wei for the latter to subscribe to 55 million new shares for a total NT$5.033 million (US$177 million), taking a 18.56% stake.
EirGenix said it has developed a biosimilar antibody drug used to treat breast cancers, with results of phase III clinical trials meeting bioequivalent standards in the US and EU in March 2021.
EirGenix obtained certification for its manufacturing capability from Japan's Pharmaceuticals and Medical Devices Agency in 2020 and will apply for establishment inspection to US Food and Drug Administration and European Medicines Agency for the same purpose.
