SAN FRANCISCO and TAIPEI, Taiwan, July 7 /PRNewswire/ -- US Venture Capital firm Burrill & Company has invested in Taiwan Liposome Company (http://www.tlcbio.com), a Taiwan based company with operations in Taipei and South San Francisco. Taiwan Liposome Company (“TLC”), is a specialty pharmaceutical company with a proprietary drug delivery technology based on a lipid formulation platform.
TLC is developing and commercializing a portfolio of “super-generics” with advantageous delivery or formulation characteristics. Some of these products include TLC’s lead product, ProFlow (used to treat peripheral arterial disease and diabetic neuropathy), which is currently undergoing product development and registration in Asian markets. The company’s ovarian and breast cancer treatment, Lipo-Dox, is already marketed in Taiwan.
“We believe that TLC’s core advantage of applying proprietary drug delivery technology to extend product lifecycles with performance improvements enables TLC to develop and commercialize new formulations of products with significant market potential,” said Burrill & Company General Partner, Dr. Ann Hanham. “We are eager to see the wide roll-out of products derived from this technology to treat diseases that would otherwise be difficult to target, such as certain types of cancer,” added Marietta Wu, Director, Burrill & Company.
“It is exciting and stimulating for TLC to have Burrill & Company as a new addition to our current investors. We will benefit greatly from Burrill’s extensive international experience and expertise, elevating TLC to becoming a global biotechnology company,” said TLC Chairman, Dr. Keelung Hong. “Having Burrill & Company on board is a strong and accredited proof of TLC’s capabilities and potential, the successful closing of this round of financing will enable TLC to focus on bringing better medical solutions for patients in need,” added George Yeh, President of TLC.
Burrill & Company was joined in this Series A round of financing by YFY Biotech Management Company, TaiAn Technologies Eminent VC, Boston Life Science Venture Corp., and other earlier investors. The proceeds will serve to advance the development of its lead product and prepare the company for an IPO in Taiwan.
About Taiwan Liposome Company
Incorporated in 1997, Taiwan Liposome Company is a biopharmaceutical company engaging in research, development and commercialization of proprietary drug delivery system for improving the treatment of cancer, ophthalmic conditions, and infectious diseases. TLC founded and led by renowned scientist, Dr. Keelung Hong, who has over 30 years of research and development experience in liposomes with over 100 publications. TLC also has a team of researchers, management, production experts, and advisors who are building the company into an organization recognized for its excellence in targeted delivery and rapid advancement of products through the drug development process in South San Francisco, California and Taipei.
About Burrill & Company
Founded in 1994, Burrill & Company is a San Francisco-based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media. The Burrill family of venture capital funds has over $950 million under management and its merchant banking business is one of the industry leaders in life sciences transactions. Burrill is also the creator, sponsor and facilitator of over a dozen leading industry conferences worldwide and publisher of a range of bio-intelligence reports including the monthly Burrill Report, which tracks the progress of the global biotechnology industry and annual “State of the Industry” report the latest of which is Biotech 2009-Life Sciences: Navigating the Sea Change, the 23rd annual report on the industry. The 470-plus page book contains analysis and perspectives on the performance of the industry in 2008 and projections for 2009 and beyond. For more information, visit
http://www.burrillandco.com
CONTACT: Nicole Lin of Taiwan Liposome Company, +886 (2) 2655 7377,
nicole@tlcbio.com; or Ann Hanham of Burrill & Company, +1-415-591-5429,
ann@b-c.com
Web site: http://www.burrillandco.com/
http://www.tlcbio.com/
