KUALA LUMPUR: Malaysian Biotechnology Corp (BiotechCorp) aims to reap RM2 billion in revenue from 248 BioNexus-status companies in 2015, its Chief Executive Officer, Datuk Dr Mohd Nazlee Kamal said.
These companies generated revenue of RM1.4 billion in 2014 from RM1.169 billion in 2013.
BioNexus is a special status awarded to qualified international and Malaysian biotech companies that qualify for fiscal incentives, grants and guarantees administered by BiotechCorp.
Nazlee said the revenue generated would be driven by improvements in companies that had penetrated the Latin American, Asian and European markets before making forays in the US.
Fifty-three per cent of 248 BioNexus-status companies are generating good revenue while efforts are being made to assist the rest, he told reporters at a press conference, here today.
Earlier, Nazlee delivered the opening remarks for the ‘Bioeconomy Accelerator Programme: Commercialisation Assistance Programme (CAP)’ two-day workshop for 20 BioNexus-status companies.
The programme is in partnership with Larta Institute of California for both emerging and established companies, principally in life sciences and agro-biotech sectors in Malaysia.
Larta is an independent corporation that provides professional services in designing and managing commercialisation programmes across the globe.
“The companies, which took part in the previous CAP implemented in 2010, had benefited from Larta’s approach in nurturing early-stage companies, bridging them to investors and industry in carving strategic linkages crucial for commercialisation,” he said.
During the workshop, the companies will have opportunities to participate in specific interactive sessions on market access, business landscapes, intellectual property, funding, marketing, branding and business partnering.
BiotechCorp is an agency under the Science, Technology and Innovation Ministry and is the lead development agency of the bio-based industry in Malaysia. – BERNAMA