Glycos to set up biotech R&D facility in Malaysia
Singapore, Nov 2, 2010: US-based biochemical company, Glycos Biotechnologies is building an industrial biochemical plant and biotechnology R&D facility in Malaysia. It has signed definitive agreements with Malaysian Bio-XCell, a biotech park, for establishing the facility. A ceremony was held in conjunction with the BioMalaysia 2010 taking place between November 1–3 in Kuala Lumpur, Malaysia.
GlycosBio CEO, Mr Richard Cilento, joined Malaysian dignitaries including the Deputy Prime Minister, Mr Muhyiddin Yassin; Deputy Minister of Science, Technology and Innovation, Mr Fadhilah Yusofi; the Chairman of Malaysian Bio-XCell, Iskandar Mizal Mahmood; and CEO of Malaysian Bio-XCell, Mr Raja Ridzwa Aziz, in an official ceremony for the exchange of agreements between Bio-XCell and GlycosBio.
The industrial biochemical plant is expected to be operational in 2012. The company plans to focus much of its initial research and development efforts on creating isoprene to support Malaysia’s rubber industry.
“For Malaysia, isoprene is a strategic product because of the large domestic latex industry and where we plan to focus much of our R&D efforts,” said Mr Richard Cilento, CEO of Glycos Biotechnologies. “With construction underway, our long-term strategy includes further expansion in Malaysian and across South East Asia, forming joint venture partnerships with existing petrochemical, oleochemical, and biofuel producers; and to partner with end market players in the development of advanced biochemicals. There are great opportunities in Malaysia for our microbial platform and sustainable chemical processes, and we look forward to the future possibilities.”