Actis signs pact to set up biotech city in Malaysia
Actis has set up Malaysia Telesta Diagnostics centre focusing on computer-aided diagnosis for breast cancer. Telesta is also willing for a technology transfer to Malaysia.
Actis, a group company of the California-based Actis Biolgics, USA, has been identified by the Malaysian government as its partner in its attempt to become a regional biotechnology hub. The country is targeting the biotech market, which is expected to rake in $1 trillion by 2015.
Actis Biologics has a worldwide licence for Angizyme, an anti-cancer drug from Sirna and Chiron, which could be developed with Actis. It is learnt that the cost of development and commercialisation of the drug in Malaysia would be less than 20% of its cost in the west.
Actis has set up Malaysia Telesta Diagnostics centre, a medical device company, focusing on computer-aided diagnosis for breast cancer. Telesta is also willing for a technology transfer to Malaysia.
Actis Biologics has already invested a Rs 100-crore in India which includes a Rs 15-crore research centre at Saki Naka near Mumbai. Company managing director Sanjeev Saxena said the clinical trial for various drugs will be conducted in India as well as Malaysia.
ABPL president PN Venugopalan, who formerly headed the pharma division of UB group, said Malaysia had the potential to develop into a major global hub for bio-technology. According to Mr Venugopalan, the guiding principle is to buy the patent for research if there is a good molecule available.