ID :
120546
Thu, 05/06/2010 - 14:15
Auther :
Shortlink :
https://oananews.org//node/120546
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SOLID ENQUIRIES FOR MALAYSIA'S BIO-XCELL AT BIO CHICAGO 2010
From Leslean Arshad
CHICAGO, May 6 (Bernama) -- The aggressive efforts to promote Malaysia's Bio-Xcell including during the world largest biotechnology gathering here are paying dividends.
The response received for the biotechnology ecosystem and park in Iskandar
Malaysia is encouraging and as a result, the enquiries would have to be filtered
down to find suitable companies that fit within the ecosystem.
It was after the filtering down exercise that Malaysian Biotechnology
Corporation (BiotechCorp) and Bio-Xcell now conducting evaluation on 10
multinationals.
"We have many enquiries. We have to filter them down to see whether they fit
within the Bio-Xcell ecosystem objectives. We are comfortable with the 10 and
are evaluating them," said BiotechCorp Chief Executive Officer and Bio-Xcell
Chairman Iskandar Mizal Mahmood.
He was speaking to journalists on the sidelines of the 2010 BIO
International Convention Wednesday. Hosted by the Biotechnology Industry
Organisation, the four-day event at Chicago's McCormick Place ends Thursday.
Iskandar said the encouranging response reflected Bio-Xcell's very clear
value proposition.
"The development of a complete ecosystem is important to both multinationals
and local companies, not only from the perspective of suitability but also
costing.
"Biotechnology is also about business. What makes economic sense will
prevail," he said.
At its global launch on Tuesday, Bio-Xcell had signed agreements with Glycos
Biotechnology Inc of the US and Switzerland's MGM Ingredients AG.
Glycos specialises in biotech feedstock technology and aims to convert
palm oil biomass into high value chemicals and by-products, while MGM
Ingredients converts by-products in the agriculture industry to create staple
foods with improved nutritional value.
Bio-Xcell, a premier biotechnology ecosystem, is being developed on a 60:40
joint-venture basis between BiotechCorp and UEM Land Bhd.
It comprises the development of a supportive biotechnology ecosystem around
targeted strategic anchor tenants to undertake operations geared towards
expediting the industry's growth.
At the global launch also, Bio-Xcell and General Electric International Inc
(GE) entered into a memorandum of collaboration for the provision of strategic
infrastructure for the ecosystem, particularly the development of centralised
utility facilities within the park.
Iskandar said the collaborative approach with GE would not be limited
to the development of hard facilities in the ecosystem but also in other aspects
such as to tap into the wider network of GE Healthcare and funding through GE's
financial arm.
He said BiotechCorp would continue seeking collaboration with others to move
the country's biotechnology industry foward since "no particular company or
country can do everything on its own."
"The key thing is fitting in within a wider value chain, figuring out where
we are good at and placing ourselves within the value. That's the key to success
for Malaysia's biotechnology industry," he said.
-- BERNAMA
CHICAGO, May 6 (Bernama) -- The aggressive efforts to promote Malaysia's Bio-Xcell including during the world largest biotechnology gathering here are paying dividends.
The response received for the biotechnology ecosystem and park in Iskandar
Malaysia is encouraging and as a result, the enquiries would have to be filtered
down to find suitable companies that fit within the ecosystem.
It was after the filtering down exercise that Malaysian Biotechnology
Corporation (BiotechCorp) and Bio-Xcell now conducting evaluation on 10
multinationals.
"We have many enquiries. We have to filter them down to see whether they fit
within the Bio-Xcell ecosystem objectives. We are comfortable with the 10 and
are evaluating them," said BiotechCorp Chief Executive Officer and Bio-Xcell
Chairman Iskandar Mizal Mahmood.
He was speaking to journalists on the sidelines of the 2010 BIO
International Convention Wednesday. Hosted by the Biotechnology Industry
Organisation, the four-day event at Chicago's McCormick Place ends Thursday.
Iskandar said the encouranging response reflected Bio-Xcell's very clear
value proposition.
"The development of a complete ecosystem is important to both multinationals
and local companies, not only from the perspective of suitability but also
costing.
"Biotechnology is also about business. What makes economic sense will
prevail," he said.
At its global launch on Tuesday, Bio-Xcell had signed agreements with Glycos
Biotechnology Inc of the US and Switzerland's MGM Ingredients AG.
Glycos specialises in biotech feedstock technology and aims to convert
palm oil biomass into high value chemicals and by-products, while MGM
Ingredients converts by-products in the agriculture industry to create staple
foods with improved nutritional value.
Bio-Xcell, a premier biotechnology ecosystem, is being developed on a 60:40
joint-venture basis between BiotechCorp and UEM Land Bhd.
It comprises the development of a supportive biotechnology ecosystem around
targeted strategic anchor tenants to undertake operations geared towards
expediting the industry's growth.
At the global launch also, Bio-Xcell and General Electric International Inc
(GE) entered into a memorandum of collaboration for the provision of strategic
infrastructure for the ecosystem, particularly the development of centralised
utility facilities within the park.
Iskandar said the collaborative approach with GE would not be limited
to the development of hard facilities in the ecosystem but also in other aspects
such as to tap into the wider network of GE Healthcare and funding through GE's
financial arm.
He said BiotechCorp would continue seeking collaboration with others to move
the country's biotechnology industry foward since "no particular company or
country can do everything on its own."
"The key thing is fitting in within a wider value chain, figuring out where
we are good at and placing ourselves within the value. That's the key to success
for Malaysia's biotechnology industry," he said.
-- BERNAMA
