Taiwan Business Quick Take
Adimmune plans expansion
Vaccine maker Adimmune Corp (國光生技) and its subsidiary Enimmune Corp (安特羅生技) on Tuesday signed a memorandum of understanding with Singapore-listed Innovalues Tech for a joint venture in Southeast Asia to explore local markets. Innovalues Tech is a subsidiary of private equity group Northstar (北極星), with capital of US$350 million. Innovalues Tech has positioned itself as a provider of biomedicine-related products and has invested in several medical centers in Singapore, Indonesia and Malaysia. The joint venture is expected to be established before the end of the year, with the initial goal of introducing influenza, tetanus and enterovirus vaccines to Southeast Asian markets, Adimmune said in a statement. The new company would later expand its product line to COVID-19 vaccines, it said. An overseas joint venture would facilitate clinical trials, drug permit applications and marketing of its products locally, A