Tractus Asia Limited signed a strategic alliance agreement with Malaysian Biotechnology Corporation (BiotechCorp) to cooperate on promoting economic growth and development within the Malaysian technology ecosystem. Through this collaborative agreement, Tractus and BiotechCorp will facilitate cross border investments and promote the adoption of innovative technologies.
According to Dato’ Dr. Mohd Nazlee Kamal, CEO of BiotechCorp, “We decided it was time to formalize a close working relationship which dates back several years.” As John Evans, Tractus’ Director explains, “We first started a relationship with BiotechCorp when they helped introduce one of our cardiac device clients, Mardil Medical, to the Malaysia K-Economy ecosystem, eventually leading to a center-of-excellence agreement with The National Heart Institute (IJN), a substantial equity investment from Agensi Inovasi Malaysia (AIM), and the world’s first-in-man implants of the Mardil Ventouch System at IJN.”
Tractus and BiotechCorp have subsequently collaborated on a Malaysia-Minnesota Partnering mission in conjunction with Medical Alley (formerly Lifescience Alley), ad-hoc introductions in both the US and Malaysia, and recent participation in the World Free Zone Convention held in Bangkok.
The partners are currently working on a project to bring a US-based material science company to Malaysia to leverage the firm’s sustainable materials technology in the areas of functionalized bio-plastics, polymer recycling, and wood polymer composites for application in Malaysia’s agro-industrial and plastics processing industries. This joint effort is being spearheaded by BiotechCorp’s Senior Vice President, Biomedical, Jay Padasian, and Tractus’ Head of Corporate Finance, Rick Smith.
About Malaysian Biotechnology Corporation (BiotechCorp)
BiotechCorp is the economic development agency for the bio-based industry under the purview of Ministry of Science, Technology and Innovation (MOSTI), providing support, facilitation and advisory services for biotech and life sciences companies in Malaysia.
BiotechCorp has been facilitating the development of BioNexus Status companies in Malaysia. BioNexus Status is an accreditation given to international and Malaysian biotech companies that qualify them for fiscal incentives, grants and guarantees administered by BiotechCorp. For further details, visit www.biotechcorp.com.my.
Bioeconomy Transformation Programme (BTP) is a platform provided by the Malaysian government for the private sector to channel and maximise commercial opportunities in bio-based industries.
The BTP is designed as a Transformation Programme based on biotechnology’s potential to cut across various industries and transform Malaysia into a high income, inclusive and sustainable nation.
Through the BTP, Bioeconomy will benefit the society and nation through breakthroughs in agricultural productivity, discoveries in healthcare and the adoption of sustainable industrial processes, having the effect of both enriching our society and nation through wealth creation besides securing our future. For further information, visit www.bioeconomy.my.
About Tractus Asia Limited
Tractus Asia Ltd. is a leading Asia-based foreign direct investment advisory firm focused on assisting government agencies, multilaterals and companies with their Asia trade, investment and growth strategies. We work to develop the most cost-effective approaches for our clients to establish operations, make acquisitions, expand, or diversify their manufacturing and service industry investments throughout Asia.