Taiwan Liposome forms marketing JV with Jixi

Taiwan Liposome Co. Ltd. (TPEx:4152) said it entered into a joint venture with Jixi Biotechnology to promote and market its drugs more efficiently in China. Jixi will invest $20 million to purchase a partial stake in TLC Biopharmaceuticals (H.K.) Ltd., a Hong Kong subsidiary of Taiwan Liposome, through which Taiwan Liposome's products will be commercialized in China. Taiwan Liposome said it maintains a majority stake in its Hong Kong subsidiary.

The JV was created in response to China's regulatory reforms. In October, China FDA implemented reforms to rules governing multicenter clinical trials and the drug registration and approval process and proposed amendments to the country's Drug Administration Act that it hopes will encourage innovation while shortening drug approval timelines. In December, CFDA outlined a priority review pathway for new drugs (see BioCentury Extra, Oct. 24, 2017 and Dec. 29, 2017)...