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The inking of a tripartite Memorandum of Understanding (MoU) with Duopharma Biotech Bhd (Duopharma Biotech) and PanGen Biotech Inc. (PanGen), marked the first establishment of Malaysia’s first commercial biosimilar production facility. VentureTECH will be investing RM15 million into a joint venturebetweenPanGen, aSouthKorea-basedcompany which specialises in research and manufacturing of bio-based medicine to produce biosimilar drugs and the Malaysian leading pharmaceutical company, Duopharma Berhad to produce biosimilar drugs to cater for both domestic and export markets and take advantage of the growing biosimilar market. In addition to generating high skilled employment, particularly in high-value biopharmaceutical products
and promoting technology adoption, the move will position Malaysia as a regional player in the growing biosimilar market, whilst improving affordability and accessibility to healthcare in the country. The MOU signing was witnessed by the Minister of MOSTI, YB Khairy Jamaluddin, accompanied by the Secretary General of MOSTI, Datuk Ir. Dr. Siti Hamisah Tapsir, VentureTECH’s Chairman, Datuk Haji Ir. Khalilur Rahman Ebrahim, VentureTECH’s Board representative from the Economic Planning Unit of the Prime Minister’s Department, Mr. Abdul Halim Abdul Aziz, and President & CEO of MIGHT, Datuk Dr. Mohd Yusoff Sulaiman, and Chairman of Duopharma Bhd, Tan Sri Datin Paduka Siti Sa’diah Sh. Bakir.
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