General Manager Jassy Wang of MegaPro Biomedical: Periodic Difficulties Are to Be Confronted and Overcome
MegaPro Biomedical is one of the new companies created by the Institute of Industrial Technology last year. General manager Jassy Wang states that although MegaPro Biomedical has the technology and talents, it has experienced many ups and downs in securing the funds externally, and it took about one year to raise funds. She anticipates that compared with the staying at the Industrial Research Institute, MegaPro Biomedical Biomedicine will have many periodic stages of difficulties to tackle and break through.
Though with technology and professional personnel in place, little could be done without fundings
Dr. Jassy Wang had served in the Industrial Technology Research Institute for 25 years. Before leaving her post, she assumed the office of deputy director in the Institute of Materials and Chemical Engineering, and was known to be a brilliant and outstanding female supervisor. She led a nano-biomedicine R&D program for 10 years, developed nano iron oxide, contrast agents, and other pharmaceutical technologies, and transferred the technology to Center Laboratories. However, due to adjustments in operation, the development plan was terminated. Dr. Jassy Wang and the R&D members thus decided to search for fundings and begin their own entrepreneurship, in order to implement their R&D technology into the market.
General manager Jassy Wang states that although MegaPro Biomedical has the technology and talents, it has experienced many ups and downs in securing the funds. In addition to the regulation that the transfer of ITRI's innovation technology is limited to company investment, funding must also be found externally. Although there had been investors willingness to input, as mid-level executives who evaluated the investment plan thought it was feasible or wanted to invest more capital, the top decision-makers declined; MegaPro Biomedical also readjusted the market positioning from the financing process, from the contrast agent that originally focused on the niche market to the more popular Nano-iron oxides that patients with kidney disease needed.
MegaPro Biomedical currently has a paid-in capital of 210 million NTD, and H&Q Asia Pacific venture capital accounts for 40%. Other corporate shareholders include Mega International Commercial Bank, KPMG Venture Capital, and Tainet Communication System Corp., etc.
Jassy Wang stated that in the past, in the case of iron deficiency, patients with chronic kidney disease had to go to the hospital every or every other week to receive iron ion injections. A course of treatment requires to be divided into 5 to 10 injections to the hospital for a period of 2 to 3 months. During this period, high ion allergy may occur, which is quite inconvenient for patients with chronic kidney disease.
The nano iron oxide developed by MegaPro Biomedical is the first ever in the domestic industry; she explains that it can be injected once, does not require fractional treatment, and holds high biocompatibility and low toxicity qualities. It is easily converted into ferritin in the liver for storage. When the body needs it, it releases iron into the blood to achieve the purpose of treating anemia, which is great news for patients.
Jassy Wang states that the animal experiments for the nano iron oxide is expected to be completed in the second half of this year, and the first clinical experiment will be completed next year. The second clinical experiment will require additional funding. It is expected that many difficulties are yet to be encountered on the way of setting up the company, and she and her team members are confident overcome them.