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PharmaEssentia Establishes a New Research and Development Facility in the Boston Area

The PharmaEssentia Innovation Research Center (PIRC) will advance the company’s diverse pipeline and research footprint in the U.S., driving job creation

TAIPEI,Taiwan--(BUSINESS WIRE)--PharmaEssentia Corporation, (TPEx:6446), a global biopharmaceutical innovator headquartered in Taiwan leveraging deep expertise and proven scientific principles to deliver new biologics in hematology and oncology, today announced plans for a new PharmaEssentia Innovation Research Center (PIRC) in the greater Boston, Massachusetts area. The facility is expected to recruit 25 scientists over the next two years.

“This new center in the U.S. will grow PharmaEssentia’s research capabilities and help cultivate local talent, building upon our invention and discovery-based innovation efforts originally established in Taiwan that led to a transformative advancement for polycythemia vera,” said Ko-Chung Lin, PhD., Founder and Chief Executive Officer, PharmaEssentia. “We are expanding our technical expertise within the epicenter of biotechnology in the U.S., attracting experts to focus on discovery efforts in hematology, oncology and immunology to better understand and address the critical needs of those living with difficult-to-treat diseases.”

PIRC will be equipped with a state-of-the-art lab featuring cutting-edge technology to support the identification and development of therapeutic opportunities. This new facility will be led by Lih-Ling Lin, Ph.D., Chief Scientific Officer, PharmaEssentia, who will leverage her robust industry experience and scientific proficiency to accelerate priority development programs.

PharmaEssentia aims to expand its current expertise in related therapeutic areas and identify novel approaches in early to mid-stage discovery and development. At PIRC, data scientists will leverage artificial intelligence and machine learning to inform new target and indication selections. The company is also recruiting for talented scientists who have deep knowledge in immunology and interest in developing novel drugs employing disease-driving biology, novel technology in protein engineering, antibody discovery and new modality development.

“As a member of MassBio, PharmaEssentia’s commitment to progressing meaningful research exemplifies a passion for improving patient care and what it means to be a champion of the life sciences industry,” said Joe Boncore, Massachusetts Biotechnology Council (MassBio) Chief Executive Officer. “The PharmaEssentia Innovation Research Center will contribute to the growing development of the biopharma scientific workforce in our state that is well-positioned for the next generation of therapeutic innovation.”

About PharmaEssentia

PharmaEssentia (TPEx: 6446), headquartered in Taipei, Taiwan, is a global and rapidly growing biopharmaceutical innovator. Leveraging deep expertise and proven scientific principles, PharmaEssentia aims to deliver effective new biologics for challenging diseases in the areas of hematology and oncology, with one approved product and a diversifying pipeline. Founded in 2003 by a team of Taiwanese-American executives and renowned scientists from U.S. biotechnology and pharmaceutical companies, today PharmaEssentia is expanding its global presence with operations in the U.S., Japan, China, and Korea, along with a world-class biologics production facility in Taichung, Taiwan.

For more information on PharmaEssentia Corporation, visit our website.

Forward Looking Statement

This press release contains forward looking statements, including statements regarding our pipeline and research and development efforts. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and similar legislation and regulations under Taiwanese law. These forward-looking statements are based on management expectations and assumptions as of the date of this press release, and actual results may differ materially from those in these forward-looking statements as a result of various factors. These factors include risks and uncertainties related to the initiation, timing, progress and results of our research and development programs, preclinical studies, clinical trials, and regulatory submissions. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.

© 2023 PharmaEssentia Corporation. All rights reserved.

PharmaEssentia is a registered trademark of PharmaEssentia Corporation, and the PharmaEssentia logo is a trademark of PharmaEssentia Corporation.

Contacts

Rachel Lipsitz, [email protected]

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