TAIPEI (Taiwan News) — Tanvex Biopharma announced it will rebrand as Bora Biologics on Monday after acquiring the company from Bora Pharmaceuticals, one of the largest listed companies of its type in Taiwan.
The newly named company said it plans to use the business to expand its contract manufacturing and development services globally. CEO Stephen Lam said Tanvex would adopt the name Bora Biologics to “honor the legacy, reputation, and partnership power of a Bora brand.”
Bora Group Founder and Chair Bobby Sheng (盛保熙) will become a chairperson of the company post-acquisition. “With this acquisition, we capitalize on evolving industry demands and provide our clients with unparalleled support and innovation in biologics development,” Sheng said.
The company said the acquisition will allow it to combine work at its facility in San Diego with Bora’s contract development and manufacturing capabilities in Taiwan. It said some of its existing product lines will continue to operate under the Tanvex brand after the acquisition.
The TWSE-listed company’s stock rose by 5.22% after the acquisition. It was trading at NT$68.50 (US$2.09) per share at the time of publishing.
