Bernama.com (Malaysian National News Agency), 16 February, 2007

Two Biotech Companies To Start Operations In Penang This Year

PENANG, Feb 16 (Bernama) -- Two biotechnology companies will take off operations at the Penang Biotechnology Park in Bukit Minyak Seberang Perai, this year.

The companies, Progenix Research Sdn Bhd and Alpha Biologics Sdn Bhd will start their operations in March and September respectively.

Springhill Management Ltd chairman Datuk Dr Kim Tan said facilities for the biotechnology companies were now nearing completion and in the process of certification and verification.

He was speaking to reporters after being conferred the Darjah Setia Pangkuan Negeri (DSPN) award, which carries the title "Datuk" by the Yang Dipertua Negeri Tun Abdul Rahman Abbas here, Friday.

Tan said with the two flagship pioneer companies in Penang Biotechnology Park, more biotechnology companies will be attracted to invest here.

"The government is committed to the building of the park and we are trying to attract more biotech and life sciences companies to come and set up facilities here," he added.

Springhill Management, a United Kingdom-based biotechnology venture capital company, is the parent company of Springhill Bioventures Sdn Bhd through which Progenix and Alpha have been set up.

Springhill Bioventures, which is jointly owned by Khazanah Nasional Bhd, Pacific Mas Fidelity Sdn Bhd, Great Eastern Life Assurance (M) Bhd and THG Capital Sdn Bhd, is investing US$35 million in the two facilities.

Alpha will be involved in the production of pre-clinical trial drugs for biotechnology and pharmaceutical industries, while Progenix will specialise in pre-clinical research and development for pharmaceutical industries, biotechnology and agro-chemical.

Meanwhile, Koh said there will be more biotechnology companies investing in the park and the state government will make the announcement on the investment "at a right time".

Several medical devices manufacturing companies are already operating at the park, he said, adding that these companies were doing very well.

-- BERNAMA