BiotechCorp brings in first international company in stem cell research and therapeutics to Malaysia
Opens a new chapter in the field of Regenerative Medicine, qualifies for BioNexus Status

October 31, 2007 – INDIA-based Manipal Education & Medical Group (MEMG) has formed a new unit involved in stem cell research and therapy in Malaysia.

The new entity, Stempeutics Research Malaysia Sdn Bhd, will promote stem cells activities in Malaysia and focus on cutting edge research, therapeutics and therapy in the field of regenerative medicine. Its parent MEMG will be investing approximately RM20 million to RM30 million in the next three to four years in the local subsidiary.

Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) has been aggressively promoting Malaysia as an international biotech destination and India is one of the preferred countries. As it is, Malaysia is India’s biggest trading partner in South-East Asia and India’s healthcare sector is already one of the largest service sectors in the country.

Stempeutics Research will be among the first few outfits under an international company to be conferred with the BioNexus status – an exclusive status for biotechnology firms which comes with a set of incentives and benefits, as well as its own Bill of Guarantees.

With its world class stem cell lab at Technology Park Malaysia expected to be completed by December this year, Stempeutics Research is committed to develop and deliver safe and effective stem cell therapies for the diseases where there is no cure. Stempeutics is committed to help patients by carrying out cutting edge research of highest standards.

Stempeutics Research intends to develop an autologus stem cell therapy from adult stem cells derived from bone marrow for several incurable diseases. In future Stempeutics will also develop allogenic stem cell therapy so as to make this therapy more affordable, readily available off the shelf and also to be used in critical conditions. Stempeutics will be the first company to employ a global hybrid model, offering both autologus and allogenic stem cell therapy for various diseases.

Stempeutics Research’s manufacturing facilities in Malaysia is designed to meet the accreditation requirements of the Foundation for the Accreditation of Cellular Therapy (FACT) and to comply with the US FDA’s current Good Manufacturing Practices (cGMP) and current Good Tissue Practices (cGTP). The facilities will also be in compliance with all other state and National regulatory and licensing requirements. Stempeutics Research intends to work with the Ministry of Health, Malaysia very closely and conduct all research and therapy according to prevailing guidelines.

“Malaysia continues to be our key strategic location for expanding our education and healthcare initiatives. After successfully establishing the Medical College in Melaka, we are now focussing in establishing a multi-speciality hospital in Penang and a world-class stem cell research company – Stempeutics – in Kuala Lumpur,” Stempeutics Research President, Mr BN Manohar, said during the media briefing on Stempeutics Research this morning.

He said that Stempeutics Research is committed to develop and deliver safe and effective stem cell therapy for the diseases where there is no cure.

“Stempeutics Research will provide a comprehensive and coordinated ‘bench to bedside’ approach to cell therapy including basic research and clinical research program and the development and administration of new therapies to Malaysian patients,” Manohar added.

“We are happy on MEMG’s commitment in developing Malaysia as a stem cell research and therapy hub. This commitment will help to build a good human resource foundation in Malaysia for all the stem cell industry and research institutes,” YBhg Dato’ Iskandar Mizal Mahmood, CEO of BiotechCorp, said at the media briefing.

Dato’ Iskandar said that Stempeutics Research should focus on Continuing Medical Education (CME) programs in latest developments in stem cell research and also conduct formal long term courses in regenerative medicine with tie-ups with Malaysian universities.

President of Stempeutics Research BN Manohar said, “Stempeutics Research will fully leverage its experience gained in India in cell isolation process, culture and upscaling of mesenchymal stem cells while providing critical products and services for the treatment of various degenerative diseases. It will collaborate with several tertiary hospitals in Kuala Lumpur and nearby states to treat patients needing stem cell therapy. Additional focus would also be given to attract more patients from abroad in order to encourage medical tourism. Our stem cell lab at Technology Park Malaysia (TPM) will serve as central stem cell processing facility”.

“Our mission is to ethically and scientifically explore the full potential of stem cells to transform medicine and offer new hope to millions of people. There will be continuous research for each disease so as to improve product development for effective therapy,” Dr Satish Totey, Stempeutics Research Chief Scientific Officer, said.

Independent studies have identified Malaysia as a market with exciting potential in stem cell research and therapy with an estimation of US$157 million with year on year growth of 12%. Malaysia could look forward to the foreign direct investment this venture is going to promote as well as the increase in the number of jobs created.

About BiotechCorp
Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) was formed in May 2005 to coincide with the launch of the National Biotechnology Policy. BiotechCorp is an agency under the purview of the Ministry of Science, Technology and Innovation (MOSTI) and is wholly-owned by the Ministry of Finance Incorporated. It is governed by the Biotechnology Implementation Council and advised by the Biotechnology International Advisory panel, both chaired by the Prime Minister of Malaysia.

The objective of the establishment of BiotechCorp amongst others is to identify value propositions in both R&D and commerce, and support these ventures via financial assistance and developmental services. It is a one-stop-centre (OSC) for biotechnology and life sciences industries in Malaysia, providing support, facilitation and advisory services for biotechnology companies that are keen to establish their presence in Malaysia.

About Manipal Group
Manipal has been involved with learning and health since its inception. Over the years, the Manipal Group has built healthcare and educational institutions, providing hope and inspiration to thousands of people.

The Manipal education network began with a single institution in a small, seaside town. The Kasturba Medical College (KMC) at Manipal opened its doors to 100 young persons in 1953. Today KMC is among India’s top ranked medical colleges, and home to more than 4000 aspiring doctors. The Group’s education network comprises 2 Universities, 7 Campuses, 24 professional colleges, 125,000 students and 260,000 alumini. Manipal institutions are home to the largest international student population in India – students from 51 countries live and study together.

Campuses in Bangalore, Mangalore, Manipal, Malaysia, Sikkim, Nepal, Dubai and Antigua offer a variety of programs in Health Sciences, Technology and Management.

Since its inception over five decades ago, the Group has viewed community and social development as its primary mission. Manipal Healthcare is driven by a well defined focus on enhancing the quality of life in both rural and urban areas within and outside India. The Manipal Healthcare network stretches across 11 hospitals, including 8 teaching hospitals, and over 7000 beds for comprehensive patient treatment, making it one of the largest providers of hospital management services in the country.

From left - Dr Satish Totey, Dato' Iskandar and Mr Manohar answering questions from the media.