ID :
189185
Fri, 06/17/2011 - 10:06
Auther :
Shortlink :
https://oananews.org//node/189185
The shortlink copeid
MGRC TO EXPAND REGIONALLY WITH GENETIC SCREENING SERVICES
By Santhia Thevi Panjanadan
KUALA LUMPUR, June 17 (Bernama) -- Malaysian Genomics Resource Centre Bhd (MGRC), the first of its kind in the country to offer genome sequencing and analysis services, aims to penetrate the regional market further with the new service roll-out to revolutionise the local healthcare sector.
Since commencing commercialisation in 2004, MGRC's services and expertise have been used by numerous leading research institutions, commercial organisations and government-linked entities worldwide such as the Australian Genome Research Facility Ltd and Emory University.
The MGRC, the forefront players in the global genome industry, will offer services that will be packaged and tailored for different segments of the local consumer market, said Executive Director Munirah Abdul Hamid.
She said MGRC, which had invested about RM3 million to RM4 million for this service, would further boost Malaysia's genome industry as a global player.
"We are confident to see return on investment in a year as MGRC has no competitors in the industry. The service would cost from RM600 onwards," she told Bernama.
MGRC, listed on Bursa Malaysia in October last year, started in 2002, two years after the first RM6 billion human genome completed sequencing.
It grew with the global industry which is about nine years old and
maintained the lead with the support of the Malaysian government.
Following the investment on the service and expansion strategies locally and internationally this year, MGRC expects its revenue for financial year ending June 30, 2011 to most likely shrink or maintain at the RM15.8 million revenue registered for the financial year 2010.
"Since listing, we have ploughed a lot into the service and will continue to do so. Profit is likely to shrink due to investments in new areas, including hiring people," she said.
The results from the investments, upcoming partnerships for the new service and expansions into the region would bear fruit in the financial year ending 2012. With the new service on board, "we will possibly see higher revenue."
"We are banking on the fact that the revenue from the consumer market for the new service will match our historical revenues recorded in the next two years.
"Moreover, with the international market growing, MGRC is optimistic," Munirah said.
In 2009, MGRC successfully assembled the 1.8 billion base pair oil palm genome for Sime Darby Bhd, the first-in the world to sequence, assemble and annotate the largest plant genome using data generated from next generation sequencing machines.
On genomic screening services, Munirah said it would not take long
before every treatment was personalised individually and this would be another paradigm shift in the healthcare sector.
On the potential of the genomic industry, she said Malaysia needs to keep the genetic data than sending the samples outside, as it would create a market in Malaysia.
"The sequencing of orang utan's genome was done outside Malaysia and we should not be letting anyone else to do it, it's ours. We should be doing it together.
"Malaysia must take possession of the data for sequencing by keeping our genetic data here as we have everything here.
"This is because local universities have the facility -- genome machines -- and there are plenty of opportunities for the public and private sectors to cooperate which will also contribute to the economy," she added.
KUALA LUMPUR, June 17 (Bernama) -- Malaysian Genomics Resource Centre Bhd (MGRC), the first of its kind in the country to offer genome sequencing and analysis services, aims to penetrate the regional market further with the new service roll-out to revolutionise the local healthcare sector.
Since commencing commercialisation in 2004, MGRC's services and expertise have been used by numerous leading research institutions, commercial organisations and government-linked entities worldwide such as the Australian Genome Research Facility Ltd and Emory University.
The MGRC, the forefront players in the global genome industry, will offer services that will be packaged and tailored for different segments of the local consumer market, said Executive Director Munirah Abdul Hamid.
She said MGRC, which had invested about RM3 million to RM4 million for this service, would further boost Malaysia's genome industry as a global player.
"We are confident to see return on investment in a year as MGRC has no competitors in the industry. The service would cost from RM600 onwards," she told Bernama.
MGRC, listed on Bursa Malaysia in October last year, started in 2002, two years after the first RM6 billion human genome completed sequencing.
It grew with the global industry which is about nine years old and
maintained the lead with the support of the Malaysian government.
Following the investment on the service and expansion strategies locally and internationally this year, MGRC expects its revenue for financial year ending June 30, 2011 to most likely shrink or maintain at the RM15.8 million revenue registered for the financial year 2010.
"Since listing, we have ploughed a lot into the service and will continue to do so. Profit is likely to shrink due to investments in new areas, including hiring people," she said.
The results from the investments, upcoming partnerships for the new service and expansions into the region would bear fruit in the financial year ending 2012. With the new service on board, "we will possibly see higher revenue."
"We are banking on the fact that the revenue from the consumer market for the new service will match our historical revenues recorded in the next two years.
"Moreover, with the international market growing, MGRC is optimistic," Munirah said.
In 2009, MGRC successfully assembled the 1.8 billion base pair oil palm genome for Sime Darby Bhd, the first-in the world to sequence, assemble and annotate the largest plant genome using data generated from next generation sequencing machines.
On genomic screening services, Munirah said it would not take long
before every treatment was personalised individually and this would be another paradigm shift in the healthcare sector.
On the potential of the genomic industry, she said Malaysia needs to keep the genetic data than sending the samples outside, as it would create a market in Malaysia.
"The sequencing of orang utan's genome was done outside Malaysia and we should not be letting anyone else to do it, it's ours. We should be doing it together.
"Malaysia must take possession of the data for sequencing by keeping our genetic data here as we have everything here.
"This is because local universities have the facility -- genome machines -- and there are plenty of opportunities for the public and private sectors to cooperate which will also contribute to the economy," she added.
