Financial News
Malaysian Genomics Inks Agreement in Expansion to Bangladesh
May 15, 2023 at 05:00 AM EDT
PETALING JAYA, Malaysia, May 15, 2023 - (ACN Newswire) - Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group's products in Bangladesh.
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| Sasha Nordin, Chief Executive Officer of Malaysian Genomics |
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| Azri Azerai, Executive Director of Malaysian Genomics |
Toticell, which is based in Dhaka, Bangladesh, specialises in regenerative healthcare focusing on treatments for musculoskeletal conditions such as arthritis, sports-related injuries and tendinopathies.
Under the SCA, the parties agree to cooperate in the distribution of Malaysian Genomics' cosmeceutical products, genetic screening tests, CAR T-cell therapy services, and other areas of mutual commercial interests.
Mr. Sasha Nordin, CEO of Malaysian Genomics said, "Bangladesh represents a market with vast opportunities given its population of approximately 165 million people. The country's economy, which is the second-largest in South Asia, is growing rapidly it is identified by Goldman Sachs Inc. as one of the Next Eleven, along with the BRICS economies for potential. Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh."
Mr. Azri Azerai, Executive Director of Malaysian Genomics, said, "This collaboration with Toticell falls in line with Malaysian Genomics' strategic expansion plan which includes diversifying geographically and globally."
In April, MGRC announced that the Group has made progress in establishing partnerships following the signing of SCAs with several Dubai, United Arab Emirates ("UAE") parties, namely American Spine Center ("ASC"), a Dubai, UAE-based specialist in spinal injury and spine pathology; BALSAM Health Services ("Balsam"), a Dubai, UAE-based healthcare service provider; Wellness by Design FZ LLC ("Wellness by Design"), a Dubai, UAE-based nutrition, obesity and weight loss specialist, and Sharjah, UAE-based IAC International LLC ("IAC"), which is coordinating and developing the partnerships.
MGRC also recently appointed Mr. Aswath Ramakrishnan as its new Independent Non-Executive Director. He is an experienced practising lawyer involved in commercial litigation, shipping and maritime, defamation, corporate and insolvency litigation, asset and debt recovery, intellectual property litigation, arbitration, and cross-border dispute.
Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/
Source: Malaysian Genomics Resource Centre Bhd
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