Boston, Massachusetts, June 19th 2012 – Malaysian Biotechnology Corporation (BiotechCorp) spearheads commercialization in Malaysia’s biotechnology sector through a series of agreements and memorandums of collaboration with global and local biotechnology partners in conjunction with the launch of the BIO International Convention 2012 in Boston, Massachusetts today.
Each collaborating parties exchanged documents at the event witnessed by The Honorable Datuk Seri Panglima Dr. Maximus Johnity Ongkili, Minister of Science, Technology and Innovation. Also present were the Deputy Chief Minister of Sarawak Datuk Patinggi Tan Sri (Dr.) Alfred Jabu Numpang, Deputy Secretary General (Science) of Ministry of Science, Technology and Innovation Professor Datin Paduka Dr. Khadijah Mohd Yusoff and CEO of BiotechCorp, Dato’ Dr. Mohd Nazlee Kamal.
“The continued initiation for partnerships and collaborations on a global scale is applaudable – especially in the current economic times with unique challenges and change. The valuable support shown by BiotechCorp in continuing to provide for the biotechnology industry in Malaysia marks the opportunities that still exist in the market,” said the Honorable Minister during the opening ceremony of the Malaysian Pavilion at the BIO Exhibition.
The collaborations announced consist of:-
- Exchange of collaboration instrument between Terengganu State Government, BiotechCorp, East Coast Economic Region Development Centre (ECERDC) and GEVO Inc to facilitate investment in Bio Polymer Park. GEVO plans to set-up a commercial plant in Kertih to produce carbohydrates and isobutanol from woody biomass with an estimated investment of RM1.65 billion.
- Joint Clinical Trial and License and Distribution agreement between Biopharma and PanGen Biotech for the commercialisation of Erythropoietin in Malaysian Biotechnology Corporation Sdn Bhd
- Exchange of documents between KENS FineMedTech with Electrocore for the incorporation of a special purpose company in Malaysia to undertake worldwide manufacturing operation and spearheading further research and development and market distribution in Asia Pacific Rim.
- Exchange of documents between Granulab and Electrocore for the establishment of a research and development facility in Malaysia for the purpose of conducting further clinical evaluation for other treatment parameters.
- Announcing of the offer of BioNexus status from the Government of Malaysia to Darden with over USD600 million (RM1 billion) in investment.
Commenting on the collaborations, Dato’ Dr. Mohd Nazlee Kamal said “These partnerships magnify the value proposition that Malaysia offers that are attractive especially in nurturing and driving global entrepreneurship and partnerships with foreign companies. Together with the Ministry and our new partners we will work towards building the collaborative strengths to drive this industry forward.”
“The collaborations and partnerships that we have sealed in Boston indicating a marked boost in the healthcare, industrial and agricultural sectors, signifying biotechnology as a prevalent necessity that will yield a high-income for the nation, as strategized in the bioeconomy agenda,” added Dato’ Dr. Mohd Nazlee Kamal.
Malaysia is pushing through the Bioeconomy agenda and intensifying national efforts to maximize the potential economic benefits of the entire biotechnology ecosystem and related value chains. The Malaysian Bioeconomy Initiative is expected to generate 20,000 job opportunities by 2020.