BIO-XCELL TO GETS THREE FOREIGN ANCHORS BY YEAR-END

From Leslean Arshad

CHICAGO, May 4 (Bernama) -- Malaysia's Bio-Xcell initiative is poised to
secure three top international biotechnology-based companies to anchor the
biotechnology ecosystem by year-end.

The biotechnology ecosystem is located in the southern development corridor
Iskandar Malaysia, Johor, a southern state in Peninsular Malaysia.

Disclosing this here on Monday, Malaysian Biotechnology Corporation
(BiotechCorp) Chief Executive Officer Iskandar Mizal Mahmood said the
agency was currently in negotiations with at least 10 multinational
biotechnology companies, including the three Bio-Xcell prospective investors.

"We are actually looking at three and will definitely be able to close a
deal by year-end," he told Malaysian and foreign journalists, attending the
world's largest BIO International Convention in Chicago, BIO Chicago 2010.

BiotechCorp's participation in BIO Chicago 2010 which began on Monday
and ends on May 6, is the the sixth time after Philadelphia in 2005, followed by
Chicago in 2006, Boston (2007), San Diego (2008) and Atlanta (2009).

The global launch of Bio-Xcell by the Minister of Science, Technology and
Innovation Dr Maximus Ongkili, will be held Tuesday at Malaysia's
Pavilion at Chicago's McCommick Place, the venue of BIO Chicago 2010.

A premier biotechnology ecosystem, Bio-Xcell, is being developed on a 60:40
joint-venture basis between BiotechCorp and UEM Land Bhd.

Bio-XCell will comprise the development of a supportive biotechnology
ecosystem around targeted strategic anchor tenants to undertake operations
geared towards expediting the industry's growth.

Without discosing details, Iskandar, who is also Bio-Xcell
Chairman, however hinted that the three companies were outfits from Europe and
emerging markets like India.

Two of the companies are involved in industrial biotechnology activities
and another in healthcare biotechnology, he said.

Iskandar also said Bio-Xcell would be developed in three phases over a
duration of between three to five years, with a development cost of RM700
million and RM1.0 billion.

"We are very much on track (in developing Bio-Xcell)," he explained.

He said between four and five supportive biotechnology ecosystems would be
established to provide the necessary services to anchor each in Bio-Xcell.

Iskandar said Bio-Xcell's selling points, as pointed out by Biotechcorp's
clients in their feedback, is that the initiative is cost effective in terms of
knowledge infrastructure and operations. (US$1=RM3.19)

--BERNAMA



Delete & Prev | Delete & Next