Verdezyne Collaborates with Malaysian Biotechnology Corporation to Ensure Opportunities in Asia
Verdezyne Accessing Malaysia as Location for its First Biochemical Facility in Asia Pacific Region
MONTREAL--(BUSINESS WIRE)--Carlsbad-based biochemical company Verdezyne, Inc. has entered into a collaboration with Malaysian Biotechnology Corporation (BiotechCorp) in its assessment of Malaysia as the destination for its first biochemical production facility in the Asia Pacific Region. The collaboration is set to accelerate Verdezyne’s process to full-fledged commercialization following the success from its pilot plant that was established in November 2011.
“Nevertheless, Malaysia’s position as one of the largest palm oil producers and its strong drive in the development of the biochemical sector has made it an interesting location to catapult into the world’s largest chemical market, Asia.”
The collaboration was announced at the 10th Annual World Congress for Industrial Biotechnology in Montreal. Present during the announcement were Verdezyne’s President and CEO, Dr. E. William Radany, and BiotechCorp’s CEO, Dato’ Dr. Mohd Nazlee Kamal.
Verdezyne is a leading biochemical producer that successfully created the first renewable nylon fiber and amongst the first to demonstrate the production of diacids with a variety of vegetable oil-derived feedstocks.
While Verdezyne has entered into multiple discussions with Malaysia’s palm oil producers; its presence in Malaysia will create cascading opportunities for its potential partners who are planning to venture into the downstream production in the palm oil industry.
“We are taking a very bold move in entering uncharted territories,” said Dr. Radany. “Nevertheless, Malaysia’s position as one of the largest palm oil producers and its strong drive in the development of the biochemical sector has made it an interesting location to catapult into the world’s largest chemical market, Asia.”
“BiotechCorp is committed to ensure further assistance to Verdezyne to recognize the full potential and favorable position of Malaysia’s ecosystem for the Biochemical sector,” said Chief Executive Officer of BiotechCorp, Dato’ Dr. Mohd Nazlee Kamal. “By positioning Verdezyne in Malaysia’s Bioeconomy Transformation Programme; I firmly believe that further value add could be created for the palm oil sector.”
Verdezyne is an industrial biotechnology company using proven and proprietary metabolic pathway engineering tools to develop unique yeast strains for cost-effective production of bio-based chemicals. Current investors in Verdezyne include BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners and Monitor Ventures.
BiotechCorp is the lead development agency for the bio-based industry in Malaysia and acts as a central contact point providing support, facilitation and advisory services for biotechnology and life science companies in Malaysia.
Since its establishment in 2005, BiotechCorp has played a key role in building the biotech industry in Malaysia. To date, BiotechCorp has facilitated the development of 222 BioNexus Status companies in Malaysia with total approved investment of RM 2.8 billion.
BioNexus-status companies are international and Malaysian bio-based companies that qualify for fiscal incentives, grants and guarantees administered by BiotechCorp. For further details, visit www.biotechcorp.com.my.