KUALA LUMPUR, April 1- The Malaysian Biotechnology Corporation (BiotechCorp) has opened a new satellite office in Penang and is confident of attracting more investments in the bio-based industry in Peninsular Malaysia’s northern region.
“Announcements of international and local companies that have decided to invest in the bio-based field in the northern region are expected to multiply the potential of the regional bio-based industry.
“Penang houses the second largest medical devices industry in our country, so setting up the satellite office is the most strategic step towards a more conducive ecosystem and facilitating opportunities for the investor and the industry.
“Looking at the local medical services market size of US$808 million in 2011, we hope to streamline and coordinate project implementations,” said Chief Executive Officer Mohd Nazlee Kamal in a statement today.
The satellite office, located at the Northern Corridor Economic Region (NCER) Biotech Centre, represents BiotechCorp’s commitment to support the Biotechnology Transformation Programme and facilitate the country’s bio-based industry, he said. He said the rapid development of the biotechnology industry in the northern region has spurred the growth of biotechnology centres like the NCER Biotech Centre and Penang Science Park, creating the right ecosystem for the industry to flourish.
BiotechCorp is the lead development agency for the biotech industry in Malaysia and acts as a central contact point providing support, facilitation and advisory services for biotech and life sciences companies.
BERNAMA
