Malaysia ramps up commercialization of Biotech R&D
Malaysia’s Biotech sector is entering the second phase of the National Biotech Policy, aiming for global commercialization of Malaysia’s R&D for agriculture, healthcare and industrial biotechnology. As part of the plan, Malaysian Biotech Corporation (BiotechCorp) has begun a Commercialization Assistance Program (CAP) joint project with the Larta Institute in the United States to bring the technology to market.
An important component in commercialization will be the Bio XCell center in the Iskandar Special Economic Zone, Southern Johor state. The center will be built in three phases over six years.
BiotechCorp also awards special ‘Bionexus‘ designation to companies meeting its criteria, allowing them to access tax incentives, support programs and a special Bill of Guarantees. 173 companies have achieved this status to date, generating RM1.12 billion in total revenue and growing 46% in the first half of 2010 alone. Bionexus-status companies have attracted investment from around the world, including Singapore, Hong Kong, Japan, Italy, the United Kingdom and United States.
source & article: Business Times
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