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UMC owns 8% equity in Medigen Biotechnology

TAIPEI, Taiwan -- United Microelectronics Corporation (聯電, UMC) has acquired NT$120 million worth of shares from Medigen Biotechnology Corp. (基亞生技), signifying the two companies' shared views regarding biotechnology field's future development.

A subsidiary of UMC has purchased 4 million shares from Medigen, at a price tag of NT$30 per share, Medigen announced yesterday. After the purchase, UMC now has 8-percent equity in Medigen.

UMC and Medigen have allegedly been in talks about investment deals. Although Medigen's new medicine launch fell short of market expectations, resulting in a recent plummet of share prices, to NT$229.5 yesterday, UMC remains optimistic about Medigen's potential, given the company's strong R&D capability and strategic direction.

The two companies share similar views regarding the future development of the biotechnology industry, Medigen said, adding that the two companies may further their partnership relationship in the future.

In addition to two types of drugs, PI-88 and OBP-301, which are undergoing clinical trial, Medigen has also allocated its R&D resources on various biotech related development.

The company's cell-based influenza vaccine facility is expected to start operation in the first half of 2015. Its test reagent facility in mainland China is expected to start running at the end of the year. The company is striving to make headway in the international market, said analysts.

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