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Inno Bio Invests RM4.58 Mln To Set Up Cell Therapy Centre

By • Dec 17th, 2008 • Category: ! Product News

Inno Bio Invests RM4.58 Mln To Set Up Cell Therapy Centre

Inno Bio Invests RM4.58 Mln To Set Up Cell Therapy Centre

Inno Bio Diagnostics Sdn Bhd (IBD), which specialises in cell-based diagnostics and regenerative medicine, is investing RM4.58 million to set up a cell therapy centre at the Universiti Kebangsaan Malaysia Medical Centre (UKMMC).

IBD, a wholly-owned subsidiary of Inno Bio Ventures Sdn Bhd, aims to create and develop business opportunities in stem cell technology in the area of cell-based diagnostics and therapy.

Inno Bio Ventures’ chairman Tan Sri Ahmad Zaharudin Idrus said the investment will enable UKMMC to undertake renovation work as well as to purchase and commission major laboratory equipment.

He was speaking to reporters after signing an agreement between IBD and UKMMC, which witnessed by Science, Technology and Innovation Minister Datuk Dr Maximus Ongkili, here today.

The cell therapy centre, which is expected to start operations next year, will be jointly managed by IBD and UKMMC to develop human hepatocyte-like cells from stem cells that are derived from embryonic, bone marrow, mesenchymal and adipose tissues.

The human hepatocyte-like cells can be used for in vitro assays for screening and testing potential drugs for the pharmaceutical and nutraceutical industries.

The cells can also be used to study the mechanism of liver diseases and cancer caused by common hepatitis viruses or toxins.

According to Ahmad Zaharudin, the company is projecting a revenue of RM15 million to be generated from the product, knowledge transfer and licensing of technology as outcome of the partnership.

“In addition, the establishment of the high-tech laboratory will also allow us to cater for highly niche services to other research groups,” he said.

Via the collaboration, the company will also contribute a projected RM30 million to the country’s human capital development through the creation of opportunities in research for Masters, PhD and post-doctoral projects, Ahmad Zaharudin said.

He added that the partnership will be valuable to both IBD and UKMMC in enhancing research activities with the possibility of developing potential products for commercialisation in the field of cell-based diagnostics and therapy using stem cell technology.

source : BERNAMA

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