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ALPS Global Holding Berhad (ALPS), an integrated biotechnology group facilitated by the Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), has been announced as Malaysia’s first biotechnology company to achieve unicorn status. The announcement was made today during the opening ceremony of the National Bioeconomy Showcase 2024 summit and exhibition at the World Trade Centre Kuala Lumpur, organised by the Ministry of Science, Technology and Innovation (MOSTI) together with Bioeconomy Corporation as the main organiser. The opening ceremony of NBiOSHOWCASE 2024 was officiated by the Prime Minister, YAB Dato’ Seri Anwar Ibrahim.
This achievement fulfils one of the key goals under the National Biotechnology Policy 2.0, which aims to create three bio-innovation companies with unicorn status by 2030. ALPS is expected to be listed on Nasdaq in the fourth quarter of 2024 at an enterprise value of approximately US$1.6 billion, thus elevating Malaysia’s profile globally and demonstrating the country’s ability to produce high-tech companies capable of competing on a global scale.
This success is the result of the joint efforts of MOSTI and Bioeconomy Corporation, which have played a crucial role in supporting the development of local biotechnology companies and the development of foreign biotechnology investments in Malaysia. This include investments from Biocon, a biotechnology giant from India, which has committed to operating in Malaysia since 2011 with a total investment of nearly RM3 billion. Thanks to Bioeconomy Corporation’s facilitation, Biocon has committed to expand its new insulin manufacturing facility which is expected to operate by 2026, creating over 1,100 highly skilled jobs and establishing one of the largest integrated insulin research and manufacturing centres in the world, besides improving access to insulin products for patients in Malaysia.
In his address, Minister of Science, Technology and Innovation, YB Tuan Chang Lih Kang, emphasised that the collaborations forged at NBiOSHOWCASE 2024, including the exchange of 11 memoranda of understanding with an estimated value of RM1.5 billion among biotechnology industry leaders, clearly demonstrate the mature and competitive development of biotechnology and bio-based industries in Malaysia at the global level. “With MOSTI’s support, over 520 biotechnology and bio-based companies have been facilitated by Bioeconomy Corporation, including BioNexus Status companies, companies under the Bio-based Accelerator (BBA) programme, and companies involved in high-impact biotechnology projects in Malaysia. Cumulatively, these companies have achieved remarkable milestones with approved investments totalling RM14.3 billion and contributing RM37.5 billion to the nation’s GDP,” he said.
Chief Executive Officer of Bioeconomy Corporation, En Mohd Khairul Fidzal Abdul Razak said that the recognition of unicorn status will strengthen Malaysia’s position as a centre of biotechnology excellence in the region, particularly in the healthcare sector. “The creation of unicorns in the biotechnology industry opens up opportunities for high-skilled jobs and talent development among Malaysians, while enhancing the capabilities of local workers in the field of science, technology, and innovation. With strong support from the government and MOSTI, Bioeconomy Corporation will intensify our efforts to ensure that the biotechnology and bio-based industries continue to drive Malaysia to higher levels of global competition, enhance local technological efficiency, and contribute five percent to the nation’s Gross Domestic Product (GDP) as outlined in the National Biotechnology Policy 2.0.,” he added.
The NBiOSHOWCASE 2024 summit and exhibition, themed “Bioeconomy for All,” serves as a platform to achieve the objectives of the National Biotechnology Policy 2.0 by advancing the biotechnology and bio-based sectors as key drivers of the national economy towards creating a bio-innovation society by 2030. NBiOSHOWCASE 2024 features nearly 140 booths with over 110 exhibitors and is expected to attract 4,000 visitors. Over 50 programmes and activities are held at the event including special forums and sharing sessions by industry experts, funding and employment opportunities, product launches, MoU exchanges, exhibitions by BioNexus Status and BBA companies, product sales, business networking, lab demonstrations, activities for school students, health screenings, sustainability efforts through Corporate Social Responsibility, as well as quizzes and games.
NBiOSHOWCASE has received strong support from a total of 15 sponsors among major biotechnology industry players, such as Platinum Sponsor Alps Global Holding Berhad, a biotechnology unicorn in Malaysia that develops precision medicine through genomic DNA, mRNA, and cellular therapy technologies. NBiOSHOWCASE is also sponsored by key industry leaders including YHL Foods Sdn. Bhd., Free The Seed Sdn. Bhd., Nature Similars Sdn. Bhd., GoodMorning Global Sdn. Bhd., Sarawak Digital Economy Corporation, Mirxes Pte Ltd, Nextgreen Global Berhad, Biocon Sdn. Bhd., Malaysian Technology Development Corporation Sdn. Bhd., Invest Selangor Berhad, MTC Orec Sdn. Bhd., Entomal Biotech Sdn. Bhd., ReNIKOLA Holdings Sdn. Bhd., with the Sarawak State Government as a strategic partner, Glyken as a bird’s nest-based beverage sponsor, and Bernama as the media partner.For more information, please visit https://linktr.ee/NBiOSHOWCASE2024 or contact nbioshowcase2024@bioeconomycorporation.my.
Release ID: 89136890
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