Taipei, Taiwan, Oct. 26, 2017
Tanvex BioPharma Inc. (“Tanvex”, stock code 6541) went for primary listing on the Taiwan Stock Exchange Corporation (TWSE) on Oct. 26, 2017. We will begin trading shares with an initial public offering of 23M shares of common stock at a public offering price of NTD72; Dilution was 11%.
Tanvex BioPharma, Inc. develops and manufactures biosimilar drugs to treat neutropenia, breast cancer, metastatic colon cancer, lung cancer, rheumatoid arthritis, among other conditions that affect millions of people around the world. Phase III clinical trials were commenced in 2016 and were successfully completed in August of 2017 with plans to file the BLA for TX01 (the filgrastim (Neupogen®) biosimilar candidate) in 2018 in the U.S. We also successfully completed our Phase I trials for TX05 (the trastuzumab (Herceptin®) biosimilar candidate) in second quarter of 2016 and received advice from FDA to enter into the Phase III clinical trial in September of 2017. FDA accepted our TX16 (the bevacizumab (Avastin®) biosimilar candidate) in January 2017 to enter into Phase I clinical trial, with full anticipation of completing the trial by the end of 2017.
Throughout the entire organization, our singular focus is to deliver value through safe, effective and affordable biopharmaceuticals. Biosimilars are expected to exceed $26 billion worldwide by 2020 according to the report of Biosimilars Market Overview of Allied Market Research.