Another Step Forward
The two companies first announced their partnership to build an industrial biochemical plant and biotechnology research and development facility in May. The final agreement just signed means the project is ready to proceed.
Initial research and development efforts for the project are expected to focus on the manufacture of isoprene to support Malaysia’s rubber industry. GlycosBio will now being evaluating partners for construction. The facility is scheduled for operation in 2012.
“For Malaysia, isoprene is a strategic product because of the large domestic latex industry, so that’s where we plan to focus much of our R&D efforts,” says GlycosBio CEO Richard Cilento. Bio-XCell CEO Raja Ridzwa Aziz says the partnership with GlycosBio will open opportunities for his company. “This partnership will enhance our significance as a regional biotech hub for industrial and healthcare biotechnology,” he says.