New Delhi: Biotechnology firm Biocon today said it has signed a memorandum of understanding with Malaysia’s biotechnology corporation (BiotechCorp) to explore the possibility of investment and collaboration in the country.
Biocon is in talks with BiotechCorp to manufacture bio-pharmaceutical products and formulations in Malaysia, the company said in a statement.
Biocon is keen to explore Malaysia as the destination for our expansion, Biocon chairman and managing director Kiran Mazumdar Shaw said.
“The collaboration, while giving Biocon a conducive ecosystem to further its bio-pharmaceutical activities, will also enable the transfer of knowledge to Malaysia’s human capital... and directly benefit the growth of similar local industry,” the statement added.
BiotechCorp is the development agency for the biotech industry in Malaysia acting as a central contact point providing support, facilitation and advisory services for biotech and life sciences companies in the country.
“We are interested in learning how we can leverage this offering with our commercial plans and look forward to formalising our engagement with BiotechCorp,” Shaw added.