SINGAPORE--A Japan-based securities firm said it has established the nation's largest fund in the biotech field, seeding it with $83.6 million to support startup biotech companies at home and in Taiwan.
Taiwan is a target of Daiwa Securities Group because its clinical-trials system meets the same standards as the United States, thus its test data are accepted automatically in other countries such as China.
Daiwa expects to draw other investors into the fund to expand it by another $16.8 million. The fund plans to allot up to $12.6 million for each new biotech project, including those focused on regenerative medicine, all using compounds held by universities and drugmakers, the Nikkei Asian Review reported.
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