TaiGen Biotechnology Secures 37 Million USD in Series C Round Financing

TAIPEI, Taiwan, Jan. 20 /PRNewswire-Asia/ -- TaiGen Biotechnology Co., Ltd., a
privately-held pharmaceutical company focused on developing drugs to treat
infectious diseases, cancer and diabetes-related complications, announced that
it has raised 37 million USD through the private placement of preferred C
stock from its existing shareholders and new investors, including MPM Capital,
National Development Fund, YFY group, Taiwan Sugar Corporation, Yao-Hwa Glass
Management Commission and Taiwan Global BioFund. This new round of financing
was completed through TaiGen Biopharmaceuticals Holdings Limited (Cayman), the
parent company of TaiGen Biotechnology Co., Ltd. The proceeds are to be used
primarily for advancing its global clinical development of Nemonoxacin in MRSA
infections, its first-in-class stem cell mobilizer, TG-0054, in stem cell
transplant, chemosensitization and tissue ischemia, and its hepatitis C
protease inhibitor program.

Dr. Ming-Chu Hsu, President & CEO said, "We are very pleased to have
completed this round of financing. Being able to raise funds in the current
challenging financial market is a strong validation of the value of our
research programs and the significant progress we made in the past few years
in our clinical development programs. The additional capital will allow us to
continue building a robust and innovative product pipeline. This round of
financing will greatly expedite our growth."

About TaiGen Biotechnology Co., Ltd.
TaiGen Biotechnology Co., Ltd., (http://www.taigenbiotech.com/) is a leading
development stage pharmaceutical company based in Taiwan with a wholly-owned
subsidiary in Beijing, China. The company is developing novel therapeutics to
treat infectious diseases, diabetic complications and cancer for the worldwide
market. TaiGen has a full capacity in new drug R&D and clinical development in
China, Taiwan, US and other countries. The company's in-house R&D has
developed first-in-class drug candidates and the first such drug, a stem cell
mobilizer TG-0054, is completing phase 1 trial in the US. TaiGen plans to
develop TG-0054 for stem cell transplantation, chemosensitization, critical
limb ischemia and age-related macular degeneration. Nemonoxacin, a
broad-spectrum non-fluorinated quinolone achieved the non-inferiority clinical
cure rate compared with levofloxacin and both drugs have comparable safety
profile in the phase II trial of community-acquired pneumonia. The second
on-going phase II trial of nemonoxacin is to demonstrate the anti-MRSA
activity of the drug in diabetic foot infection (DFI) with oral
administration. TaiGen has an advanced HCV protease inhibitor program in
preclinical development.

TaiGen plans to commercialize nemonoxacin in greater China and ASEAN
countries. The on-going "first-in-class-new-drug" trials in China are slated
to launch the product in China in 2011. Together with its licensor P&G
Pharmaceuticals, the company will out-license nemonoxacin for the US/EU/Japan
market.

Contact Information:

Gloria Hsieh, Ph.D.
Director, Public Relation & Business Development
E-mail: gloriahsieh@taigenbiotech.com.tw
Tel: +886-2-2790-1861 ext. 1722
Fax: +8862-2790-9962
Add: 7F, 138 Shin Ming Rd., Neihu Dist., Taipei, Taiwan 11470, R.O.C.

SOURCE TaiGen Biotechnology Co., Ltd.

Gloria Hsieh, Ph.D., Director, Public Relation & Business Development, TaiGen
Biotechnology Co., Ltd., +886-2-2790-1861 ext. 1722, or fax, +8862-2790-9962,
gloriahsieh@taigenbiotech.com.tw