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Thursday March 22, 2007
By KOAY SHIANN HUAH
TWO major biotechnology companies in Penang – Progenix Research Sdn Bhd (PRSB) and Alpha Biologics Sdn Bhd (ABSB) – will be ready for business soon.
Chief Minister Tan Sri Dr Koh Tsu Koon said PRSB would begin operations this month and ABSB in September at Biotechnology Park in Bukit Minyak.
He said these companies, founded by Springhill Management Ltd (SML) - a biotech venture capital company - were the first to set up biotech facilities in Bukit Minyak.
“They have strategically positioned themselves in Penang, helping the state government to stimulate foreign investments in biotechnology industry.
“The state government has been striving to make Penang the hub for biotechnology and life sciences,” he said recently.
Dr Koh said the state government was hoping to get more biotech- nology companies to set up plants at Bukit Minyak.
Datuk Dr Tan said SML had in-vested more than US$35 million (RM133mil) in setting up the two subsidiary companies in Penang.
“We hope these two will be- come the flagship companies that help to spur foreign investments on the biotech industry in Penang,” he said.
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