ANOTHER 20 BIOTECH FIRMS TO GAIN FROM LARTA INSTITUTE'S MENTORING PROGRAMME

KUALA LUMPUR, Sept 23 (Bernama) -- Malaysian Biotechnology Corporation's
(Biotech Corp) second round of collaboration with the US-based Larta Institute
will see another 20 companies benefiting from the institute's mentoring
programme.

The second Global Bridge: Malaysia Commercialisation Assistance Programme (CAP)
will mentor 20 start-ups from universities and research institutes in the
country as well as BioEntrepreneurs and BioNexus-status companies.

The six-month coaching and mentoring programme would help prepare the companies
to advance their commercial potential and global business readiness," said
Biotech Corp chief executive officer Iskandar Mizal Mahmood.

Of the 12 companies that participated in the pilot CAP implemented last year,
five have entered into joint ventures and collaborations, while two have
received funding, he told a press conference Thursday.

Also present was Larta Institute's chief executive officer Rohit K. Shukla.

Larta Institute is an independent, private, non-profit corporation and
innovation hub. It provides professional services in designing and managing
commercialisation programme for public and private companies and universities.

Shukla said with ample raw materials, Malaysia has huge potential.

He said besides mentoring potential start-ups, Larta Institute also
help them establish good contacts for potential market and clients.

Asked whether it would be a yearly effort given the good response for the latest
CAP, Iskandar said although it was evaluated on a year-on-year basis, both
Biotech Corp and Larta Institute saw the potential of the programme being on a
long-term perspective.

On the outlook for the industry, Iskandar said BioNexus-status companies had
grown from strength-to-strength with some of them already or going to be listed.

"Revenue growth for the 173 BioNexus-status company for the first quarter of
2010 grew by 46 per cent, a huge jump as compared with the growth rate for the
industry globally between 17 per cent and 22 per cent," he said.

Going forward, he said, there could be mergers and acquisitions in the sector.

"As the industry becomes more competitive, we can expect some companies falling
off the BioNexus network. To stay in the network, they must be resilient,
demonstrate progress and chart expansion," he cautioned.

He, however, said none of the present BioNexus companies are in the list.
-- BERNAMA