Biocon to invest $161 million in Malaysian Biotechnology Corp

It will be made towards establishing biomanufacturing and R&D facility in Bio-XCell, custom-built biotechnology park and ecosystem in Iskandar Malaysia, Johor.

“Malaysia is a compelling global destination for biotechnology, backed with world-class infrastructure and attractive tax incentives. Investing in Malaysia provides us with international location with strategic geographical proximity to India,” said Chairman & Managing Director Kiran Mazumdar-Shaw.

The project would focus on R&D and production of high-end biosimilars and other biopharmaceutical products. In the first phase, Biocon proposes to invest around RM500 million (approximately $161 million) in the facility targeted to be operational by 2014.

“Biocon’s strategic investment in Malaysia will propel our industry to next level. It will be a catalyst in our commercialisation efforts as we enter phase 2 of our National Biotechnology Policy – Science to Business Phase,” said Chairman of Malaysian Bio-XCell SdnBhd, Dato’ Iskandar Mizal Mahmood, who is also BiotechCorp CEO.