Health and Pharmaceutical Sector in Malaysia
|Title:||Inno Biologics to make biotech products by mid-2006|
(2 April 2005 - New Straits Times)
INNO Biologies Sdn Bhd, said to be the country's first bio-pharmaceutical manufacturer, will start producing biotechnology products at its RM80 million high-tech facility in Nilai, Negeri Sembilan by the middle of next year.
The facility, according to Science, Technology and Innovations Minister Datuk Seri Dr Jamaludin Jarjis, is the first of its kind in Malaysia and the Asian region.
"By 2006, Inno Biologies will hire 70 employees, of which 50 will be involved in product design, product development and others," he told a news conference after witnessing a term loan facility signing ceremony between Bank Industri and Inno Biologics Sdn Bhd in Kuala Lumpur yesterday.
The RM42 million term loan facility is to part-finance the construction of Inno Biologics' current good manufacturing practice bio-pharmaceutical plant.
The remaining cost of the facility, amounting to RM38 million, will come from the shareholders.
Inno Biologies is a subsidiary of Inno Bio Ventures Sdn Bhd, a Minister of Finance Inc-owned company.
Jamaludin said the plant will produce a range of bio-logics such as granulocyte colony stimulating factor and human interferon beta to be used in the clinical treatment of cancer patients and fertility treatment, respectively.
Other services to be offered by Inno Biologics include gene-cloning and protein expression, biopharmaceutical process development and training.