TAIPEI (Taiwan News) — National Science and Technology Council approved three investment projects worth NT$1.1 billion (US$33 million) on Tuesday.

The NSTC stated that only one of the approved projects was disclosed, Goonie Bio, per CNA. The company will invest NT$300 million to establish operations in the Chiayi campus of the Southern Taiwan Science Park, per a press release.

The council explained that Goonie is a spinoff of Dr. Signal BioTechnology Co., Ltd. It will implement DrSignal’s proprietary 3A-GTP intelligent automation systems for large-scale cell preparation.

The technology integrates AI, augmented reality, and good tissue practices to reduce manpower and production costs in cell therapy.

This will ensure the high quality and consistency of cell and exosome products, meeting the demand for high-performance biopharmaceuticals, the council explained. This will also enhance efficiency and quality while strengthening Taiwan’s competitiveness in the cell and exosome markets.

Additionally, the NSTC approved six capital increase projects with NT$834.5 million.