Three biotech companies setting a precedent for alliance of industry and academia acquire government’s special funds of research and development of Chinese herbal medicine genomic science and technology

Vita Genomics, Inc., ScinoPharm Biotech, Ltd. and Taiwan Genome Sciences, Inc., forming an unprecedented alliance, posed a project for development of herbal medicine genome and were granted to apply for funds of the science & technology project with the Ministry of Economic Affairs and acquired funds in the amount of NT$10,000,000 at the initial phase.  This is the first time for the local biotech industries to cooperate with National Yang-Ming University in the form of strategic alliance and succeed in seeking funds from the government by virtue of the academia as its supporter.  This model of industrial and academic cooperation is anticipated to set a precedent for development of the future biotech industry.

Source: Commercial Times 01/17/2002