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£ 5.640 Million

US AdvaMed invests $120m in 12 biomedical startups from Taiwan

The Advanced Medical Technology Association (AdvaMed) has invested $120 million in 12 biomedical startups from the Taiwan Tech Arena (TTA) during The MedTech Conference 2019 in Boston, US last week.

The sum was awarded to the startups via AdvaMed and from the US military, the software company Hewlett-Packard and the medical device firm Johnson & Johnson.

Speaking at the opening ceremony of the MedTech Conference, Taipei Economic and Cultural Office in Boston Director Douglas Y. T. Hsu explained how TTA is leading Taiwan biomedical startups abroad and within the country’s technology industry.

“In recent years, the Taiwan government has established TTA to support the Taiwan talents to commercialize academic research, to enhance the technological innovation, and to connect with the global industrial ecosystem”, Hsu said.

“It is expected to communicate with the world through TTA participation in international exhibitions, linkage with foreign investment and resources, opening the door for multinational industries collaboration and strengthen Taiwan’s position in the technology ecosystem.”

The fact TTA received such a considerable investment at The MedTech Conference proves the innovation the Taiwanese start-ups are bringing to the field is substantial.

The Conference is an annual event organised by AdvaMed and has a significant impact on the biomedical industry due to its connections with 80 top tier medical manufacturers and 400 key members.

“Boston is an important base for the biomedical industry,” said AdvaMed vice president Ralph F. Ives.

“Among the 20 largest pharmaceutical companies in the world, there are 16 located in Boston, such as Novartis, Baxter, Vertex HQ, and GE Life sciences. These companies have connected the ecosystem through the MedTech exhibition to enhance collaboration and future opportunities.”

Image via Freepik on flaticon.

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BY SHACK15

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