22
Innovation
@Halal | July-august. 2020
Halal certification
a priority
Duopharma Biotech Bhd signs MoU with
VentureTECH and South Korea’s PanGen Biotech Inc.
BY CAMILIA REZALI
Halal certification of biosimilars
innovated and produced
in Malaysia will always be a
consideration.
Duopharma Biotech Berhad
is the first Malaysian pharmaceutical
company to commercialise its
biosimilar branded as Erysaa, activating
its commercialisation since April 2019.
This biosimilar product is currently
being filled and finished in Duopharma
Biotech’s facility in Klang.
Recently, Duopharma Biotech signed a
tripartite Memorandum of Understanding
(MoU) with VentureTECH and South Korea’s
PanGen Biotech Inc.
It will lead to Malaysia’s first commercial
biosimilar production facility.
The MoU was signed by the Managing
Director of VentureTECH, Dr Norida Abdul
Rahman and Group Managing Director of
Duopharma Biotech, Leonard Ariff Abdul
Shatar. PanGen Biotech co-President and
Chief Executive Officer Prof Yoon Jaeseung
OVER TO YOU: Dr Mohd Yusoff handing over the Economic Market Analysis
Report and the Pharmaceutical Industry Analysis to Khairy.
had signed the document earlier.
The ceremony was witnessed by the
Minister of Science, Technology, and Innovation
(MOSTI), Khairy Jamaluddin.
Khairy believed “this strategic MOU
and international collaboration in biopharmaceutical
market could further spur
the growth of biotechnology industry in
Malaysia, as the ministry sets to prime biotechnology
as the main engine of growth
for Malaysia’s economy”.
From a global viewpoint, biosimilars
are a growing market with Asia-Pacific
expected to represent 32.8 per cent of the
market by 2027 to become the next biggest
biosimilar market after Europe.
VentureTECH would invest RM15 million
into the joint venture between Duopharma
Biotech and PanGen to produce biosimilar
drugs to cater to both domestic and export
markets.
The biosimilar production facility is
expected to be completed in 2024.
Norida said: “As an impact investor,
VentureTECH is armed with a mission to
create substantial and meaningful socioeconomic
impacts in our every investment
decision, while placing an equal emphasis
on local industry development.
“We have identified the potential
impacts of this synergy. Among them are
generating high-skilled employment and
increasing demand for highly-skilled local