Melbourne and Kuala Lumpur 30 Sep 2015: Cell Therapies Pty Ltd (CTPL) has today received official notification from the Malaysian Government and Malaysian Biotechnology Corporation (BiotechCorp) that its Malaysian subsidiary, Cell Therapies Malaysia Sdn Bhd (CTMSB) has been awarded BioNexus status having met the conditions of the letter of offer made in February. The BioNexus status confers a ten year tax exemption on CTMSB profits provided that CTMSB commences its qualifying activities by 6 July 2016, invests 3% of revenue in R&D annually and maintains 65% of its workforce as knowledge workers.
CTPL CEO Tim Oldham commented that: “We are looking forward to partnering with the Malaysian government to establish a world class manufacturing hub for cellular therapies in Malaysia and contribute to Malaysia’s bioeconomy. From our planned Malaysian facility we expect to be able to supply a wide range of high quality, evidence based cellular therapies on a commercial scale to ASEAN and beyond. This facility will receive operating and process know-how from our existing facility at our Founding Partner, Peter MacCallum Cancer Institute in Melbourne, and compliment its capacity.”
About Cell Therapies Pty Ltd:
Cell Therapies is the leading manufacturer and distributor of cellular therapies in Asia Pacific, a region of over 650 million people. Cell Therapies provides the essential manufacturing and distribution infrastructure for the safe, reliable and scalable delivery of cellular therapies into clinical trials and for therapeutic use.
For over a decade, Cell Therapies has made these capabilities available on a contract basis to some of the world’s leading stem cell companies, developing products and processes that are compliant with global regulatory and cGMP requirements and successfully integrating with global manufacturing networks. Cell Therapies also in-licenses late stage products for high unmet clinical need for commercialisation in SE Asia and Australasia.