Jyong Biotech Ltd., a science-driven biotechnology company dedicated to the development and commercialization of innovative plant-derived therapeutics, announced that it plans to establish a potential new manufacturing facility and U.S. operations center in Texas. The initiative is intended to support the Company’s U.S. operations and position it for the potential future commercialization of its proprietary investigational drug candidates, if approved.
Following an evaluation of factors including government policies, market conditions, workforce recruitment and logistics, Jyong Biotech has submitted a facility and operations plan to local government authorities in the State of Texas and is preparing to commence formal communications with the relevant government agencies regarding the relevant procedures.
The Company selected Texas based on factors including competitive land costs, a favorable corporate tax structure, state tax exemptions and manufacturing incentives. The Company currently expects the proposed facility to possess pharmaceutical manufacturing capabilities, and the Company is also evaluating whether the proposed facility may include additional production lines for health supplements, subject, among others, to further planning, regulatory requirements and available funding.
"We believe establishing manufacturing capacity in the United States will support our long-term commercial plans," stated Fu-Feng Kuo, Chairwoman and Chief Executive Officer of Jyong Biotech." Texas offers a favorable business environment and potential state tax incentives, which we believe will allow us to build the infrastructure needed to support the potential commercial activities and operations of our drug candidates, if approved."