This is definitely sounds better than the government's intention to buy the Russian dated space "taxi" that our own space "trip visitor" used for his vacation.
To be highlighted, both of the potential deals haven't disclose amount of money involved. Crap. Transparency My Foot.
BiotechCorp Acquires Licence For Nanotechnology Platform
KUALA LUMPUR, Nov 30 (Bernama) -- Malaysian Biotechnology Corporation (BiotechCorp) today announced its first technology acquisition by acquiring a worldwide licence to a nanotechnology platform.
The company signed the deal with Nanobiotix of France which has developed nanotechnology particles for cancer therapy.
"We identify Nanobiotix because it has excellent platform technology with wide applications," BiotechCorp's chief executive officer Datuk Iskandar Mizal Mahmood told reporters after the launch of the nanotechnology acquisition on the sidelines of the BioMalaysia 2007 conference and exhibition here.
Nanobiotix has agreed to license the application of its nanotechnology platform for non-cancer purposes to BiotechCorp to expand the potential pipeline into non-cancer areas.
Iskandar Mizal said by acquiring the licence, BiotechCorp was able to provide access to the application of high level nanotechnology in Malaysia.
According to him, the direct applications in healthcare include cardiovascular therapeutics, eyesight therapeutics, blood clotting agents, wound and burn repair, and protein purification while the direct applications in food and cosmetics include flavour and solar protection.
On the nanotechnology acquisition, Iskandar Mizal said the due process comprised independent financial, technology, legal and intellectual property due diligence.
He said both BiotechCorp and Nanobiotix were equally confident of realising the multiplier effect of the nanotechnology platform acquired with a minimum target of two nanotechnology projects per year for the first four years.
"We are in the process of looking for the right research institution for us to take on further development work on some of the applications," he added.
With the acquisition, BiotechCorp is targeting a minimum of eight nanotechnology projects by 2011, which will mark the first year of its commercialisation phase from science to business, Iskandar Mizal said.
"Our capacity building phase will be concluded from 2005 to 2011," he said.
Nanobiotix was represented at the event by its founder and chief executive officer Dr Laurent Levy.
"We have decided to make things happen faster by having three researchers from Malaysia at our laboratory in France to work with us on the programme," Levy said.
"So at the end of the year, the researchers from Malaysia will have the knowledge to continue this programme," he said.
-- BERNAMA
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