Biotech Corp, California group in tie-up

MALAYSIAN Biotechnology Corp (BiotechCorp) and the California
Institute for Quantitative Biosciences (QB3) will work together to set up a QB3 satellite programme in Malaysia in a bid to
produce more entrepreneurs in the budding biotechnology industry.

The move underscores the country?s commitment to develop the industry, having identified it as a new engine of growth for the economy, back in 2005.

QB3 is a consortium of more than 200 labs from the University
of California?s campuses that boast top researchers and facilities as well as entrepreneurial resources.

Its collaboration with Biotech-Corp will see it providing specialised technology training that could help local
biotech researchers in commercialising their products.

The two parties exchanged documents at a symposium held in conjunction with the 2012 Bio International Convention (BIO) that began here on Monday.

This is one of five agreements that Biotech-Corp, the lead agency responsible for developing Malaysia?s biotechnology industry, is set to ink at the four-day convention.

?This collaboration will initiate a positive transfer of knowledge from QB3?s researchers to our researchers that will branch off into streams of knowledge to students, academicians, entrepreneurs and interested parties that will eventually
contribute towards a biotechnology-driven economy as we move towards becoming a highincome nation,? BiotechCorp?s chief executive officer Datuk Mohd Nazlee Kamal said at the event.

The event was witnessed by Science, Technology and Innovation Minister Datuk Seri Maximus Ongkili, who led an 80-member Malaysian delegation to BIO, the world?s largest gathering of biotechnology experts and policymakers.

This marks the eighth year that Malaysia is participating in
the annual event.

?As Malaysia moves further into the second phase of its National Biotechnology Policy ? turning science to business ? we welcome initiatives that would accelerate the commercialisation of our biotechnology companies where the industry is expected to undergo an ultimate test of viability as it embarks upon efforts to intensify the business appeal of all the initiatives,? Ongkili said.

The government is targeting for the industry to account for five per cent of its gross domestic product (GDP) by 2020 and create 300,000 jobs.

It now accounts for nearly 2.3 per cent of the country's GDP and has created more than 40,000 jobs since 2006, said officials at BiotechCorp.

"We hope to create more jobs by collaborating with QB3," said Mohd Nazlee.

To date, BiotechCorp has granted BioNexus status to 215 companies, of which 67 are in the healthcare sector and five - including PureCircle and Holista Biotech - are listed on local or foreign stock exchanges.

Companies with BioNexus-status enjoy incentives such as tax breaks, freedom to source funds globally and freedom of ownership, among other things.

BiotechCorp is an agency under the purview of Ministry of Science, Technology and Innovation (MOSTI) and is owned by the Ministry of Finance Incorporated.

BiotechCorp is responsible for executing the objectives of the National Biotechnology Policy (NBP).

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