Praised as benchmark for small and medium-sized enterprises
SOUTH SAN FRANCISCO, Calif. and TAIPEI, Taiwan, May 03, 2021 (GLOBE NEWSWIRE) -- TLC (Nasdaq: TLC, TWO: 4152), a clinical-stage specialty pharmaceutical company developing novel nanomedicines to target areas of unmet medical need, today announced that it once again ranks in the Top 5% in Corporate Governance Evaluation amongst all Taiwan Stock Exchange Corporation (TWSE) and Taipei Exchange (TPEx) listed companies. This marks the seventh consecutive year TLC has won the prestigious status since the establishment of the evaluation system in 2015, and TLC remains the only biotech company to have gained such an honor. In addition, TLC also ranks in the Top 5% in the newly added, non-industry-specific, Small and Medium-Sized Enterprises (SMEs) category (TWD 5-10 billion market value) with 5 other TPEx-listed companies.
The 7th Corporate Governance Evaluation indicators and evaluation results can be found on the website of Corporate Governance Center at https://cgc.twse.com.tw/evaluationCorp/listEn and the Securities and Futures Institute website (https://www.sfi.org.tw/cga/cga1), with links to the Market Observation Post System (https://mops.twse.com.tw/mops/web/index) for convenient access by investors.
As customary, TWSE and TPEx will hold an award ceremony in early June to honor the Top 5% companies. This year, in accordance with the “Corporate Governance 3.0 - Sustainable Development Roadmap” and to encourage corporate governance among SMEs, the exchanges will also publicly praise the Top 5% companies with market value of TWD 5 to 10 billion, of which there are 7 from TWSE and 6 from TPEx, including TLC. According TWSE and TPEx, these 13 companies serve as a benchmark for all SMEs, and they strongly recommend that all companies strive for the same level of achievement in corporate governance.
The 7th Corporate Governance Evaluation included 905 TWSE- and 712 TPEx-listed companies. According to the evaluation scores, the companies are divided into seven groups of the top 5%, 6% to 20%, 21% to 35%, 36% to 50%, 51% to 65%, 66% to 80%, and 81% to 100%, respectively. The evaluation results for the TWSE- and TPEx-listed companies are announced separately. Among the 1,617 companies, TLC is the only biotech company to have remained in the Top 5% since the establishment of the evaluation system, once again solidifying its status as a benchmark in its sector.
TLC (NASDAQ: TLC, TWO: 4152) is a clinical-stage, specialty pharmaceutical company dedicated to the research and development of novel nanomedicines that maximize the potential of its proprietary lipid-assembled drug delivery platform (LipAD™), including BioSeizer® sustained release technology and NanoX™ active drug loading technology, which are versatile in the choice of active pharmaceutical ingredients and scalable in manufacturing. TLC has a diverse, wholly owned portfolio of therapeutics targeting areas of unmet medical need in pain management, ophthalmology, oncology and infectious diseases. TLC is consistently ranked in the top 5% among all listed companies in Taiwan’s Corporate Governance Evaluations.