Avesthagen signs MoU with Malaysian Biotech Corp

New Delhi, June 6 (UNI) Avesta Biotherapeutic and Research Pvt Ltd (ABRPL) today said it has signed a Memorandum of Understanding (MoU) with Malaysia-based Biotechnology Corporation.

Avesta Biotherapeutic and Research Pvt Ltd (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (of CIPLA group) signed the MoU with Biotechnology Corporation to enhance the infrastructure needs with an objective to accelerate its eleven biosimilar product development programme, said a statement.

Biotechnology Corporation, under the Malaysian Ministry of Science, Technology and Innovation, is wholly owned by the Ministry of Finance Incorporated.

With the MoU, ABRPL would establish a Malaysian legal presence and place intellectual property rights for the product with ABRPL Malaysia, which would give an opportunity to obtain the BioNexus status offered by the Government of Malaysia as well as apply for any relevant incentives as soon as practicable, the statement added.

BiotechCorp has also agreed to facilitate the BioNexus status application.

UNI