Manipal grp plans stem cell facility in Malaysia

Manipal Education and Medical Group will invest in setting up of a stem cell research and development (R&D) facility in Malaysia, Iskandar Mizal Mahmood, CEO, Malaysian Biotechnology Corporation, said.

"It will be an adult stem cell R&D facility. It can be either on a joint venture basis or 100% owned by Manipal Group," he said.

The pact is to facilitate the establishment of a Manipal Group subsidiary in Malaysia focusing on stem cell R&D, as well as to explore potential collaborations between Manipal Group and Malaysian companies.

Iskandar said BiotechCorp has shortlisted four Malaysian companies which could set up joint ventures with Manipal Group.

He said one of them is a listed company but he declined to name it. There are also plans for a biotechnology entrepreneurship programme with Manipal Group, he said reporters on the sidelines of BIO 2007, the world's largest biotechnology convention.