Bernama.com (Malaysian National News Agency), 9 May, 2007
India's Manipal To Invest In Stem Cell R&D Facility In Malaysia
By Saraswathi Muniappan
BOSTON (US), May 9 (Bernama) -- India-based Manipal Education and Medical Group International Ltd's initial investment in setting up a stem cell research and development (R&D) facility can be between US$5 million and US$10 million, according to Datuk Iskandar Mizal Mahmood, chief executive officer of Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp).
"It will be an adult stem cell R&D facility. It can be either on a joint venture basis or 100 percent owned by Manipal Group," he said when asked about the memorandum of understanding (MoU) that BiotechCorp signed with Manipal Group here on Monday.
The pact is to facilitate the establishment of a Manipal Group subsidiary in Malaysia focusing on stem cell R&D, as well as to explore potential collaborations between Manipal Group and Malaysian companies.
Iskandar said BiotechCorp has shortlisted four Malaysian companies which could set up joint ventures with Manipal Group.
He said one of them is a listed company but he declined to name it.
There are also plans for a biotechnology entrepreneurship programme with Manipal Group, he told reporters on the sidelines of BIO 2007, the world's largest biotechnology convention, which is ending here today.
At BIO 2007, BiotechCorp also entered into a MoU with Avesta Gengraine Technologies Pte Ltd (Avesthagen), an India-based integrated biotechnology and bioinformatics company focusing on the convergence between food, pharmaceuticals and clinical genomics leading to preventive personalised medicine.
According to Iskandar, the pact is aimed at facilitating Avesthagen's investment in Malaysia and identifying potential Malaysian partners for the company.
-- BERNAMA
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