TAIWAN'S TAIGEN SIGNS DEVELOPMENT DEAL WITH PROCTER & GAMBLE

Taiwanese biotechnology company TaiGen has announced a new strategic alliance with the pharmaceuticals unit of US consumer goods major Procter & Gamble. According to TaiGen, the deal envisages development of a novel non-flourinated quinolone antibiotic originally identified by the US company. TaiGen is to conduct clinical trials through to Phase II, and if successful, the two companies will launch the drug in partnership with a third company. Notably, TaiGen has the exclusive marketing rights to the compound in China, Taiwan, South Korea and within the ASEAN trade bloc.

Sources indicate that the deal will allow Procter & Gamble to eventually earn revenue from its discovery, whilst avoiding the full burden of marketing the drug. For TaiGen, meanwhile, the deal is in line with a number of development and licensing agreements signed since the company's incorporation three years ago, including deals with Japan's Fujisawa and Italy's BioXell.