KUALA LUMPUR: Genomics and biopharmaceutical specialist Malaysian Genomics Resource Centre Bhd has entered into a strategic cooperation agreement (SCA) with Toticell Ltd for the distribution of the company's products in Bangladesh.
Toticell, which is based in capital Dhaka, specialises in regenerative healthcare focusing on treatments for musculoskeletal conditions such as arthritis, sports-related injuries and tendinopathies.
Under the SCA, the parties agreed to cooperate in the distribution of Malaysian Genomics' cosmeceutical products, genetic screening tests, CAR T-cell therapy services, and other areas of mutual commercial interests.
Malaysian Genomics chief executive officer Sasha Nordin said Bangladesh represented a market with vast opportunities given its population of about 165 million people.
"The country's economy, which is the second-largest in South Asia, is growing rapidly. It is identified by Goldman Sachs Inc as one of the Next 11, along with the Brazil, Russia, India, China and South Africa (BRICS) economies for potential.
"Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh," he said in a statement today.
Executive director Azri Azerai said the collaboration fell in line with Malaysian Genomics' strategic expansion plan which included diversifying geographically and globally.
In April, Malaysian Genomics announced that the company had made progress in establishing partnerships following the signing of SCAs with several Dubai, the United Arab Emirates parties specialised in healthcare and wellness.
The company also recently appointed Aswath Ramakrishnan as its new independent non-executive director.