MGRC white label is welcome step in turnaround plan

KUALA LUMPUR 7 April - Malaysian Genomics Resource Centre Berhad has entered a collaboration which will see it receive RM7 million in fees for the development and production of private label products for wellness products group Eostre Berhad.

Eostre will market and sell the customised genetic screening tests and other healthcare products, developed with Malaysian Genomics’ proprietary expertise in research, design and development, through its direct marketing network.

The agreement, for Malaysian Genomics to provide its intellectual property and function as Eostre’s science and technology collaborator, is for an initial term of one year with automatic renewal every year, it said today in a filing on Bursa Malaysia.

The agreement is expected to contribute positively to the future financial performance of the company, it said.

“This collaboration is a welcome step in our turnaround plan and is expected to speed up Malaysian Genomics’ return to profitability,” said Sasha Nordin, Malaysian Genomics’ Chief Executive Officer.

“Malaysian Genomics is pleased to support Eostre's efforts to make personalized healthcare available to its members worldwide. The latest genomics technologies and genetics science are generating new knowledge and actionable information, making personalised healthcare an increasingly important space,” he said.

With its proprietary data analysis systems, Malaysian Genomics is a pioneer of advanced genomics technologies and genetic analysis in the Asi­an region.

Malaysian Genomics recently diversified into biopharmaceuticals and healthcare services with the provision of Chimeric Antigen Receptor T-cell (CAR T-cell) immunotherapy for solid cancers.

It is nearing completion of the design and fit-out of its new cell laboratory in Kota Damansara, which is expected to be ready for operations next month. - DagangNews.com