KUALA LUMPUR (Jan 9): Genomics and biopharmaceutical specialist Malaysian Genomics Resource Centre Bhd (MGRC) has announced a strategic cooperation with government-owned SIRIM Bhd to explore the commercialisation of joint research and development (R&D) projects in the medical and biotechnology fields.

Under the strategic cooperation, both parties will evaluate the potential commercial value of a range of genomics-driven biotechnology R&D projects. These include developing biofuels and biopharmaceuticals, companion diagnostic tests for cancer treatment, and bioactive cosmeceuticals, said MGRC in a statement.

The two-year strategic collaboration will also jointly source for suitable private and public institutional partners for the funding and commercialisation of these projects.

“SIRIM and MGRC have complementary experiences, resources, and technology assets. Teams from both organisations have met to explore their research and develop interests in precision medicine, food security, and products for the consumer market. This strategic collaboration will pave the way for individual agreements specific to projects for which commercial opportunities have been identified,” said MGRC chief executive officer (CEO) Sasha Nordin.

SIRIM president and group CEO Datuk Indera Dr Ahmad Sabirin Arshad said the collaboration can benefit the country and domestic industries.

"This strategic collaboration will expedite the relevant processes to ensure that both parties can explore the commercial viability of projects, before commencing research, development and commercialisation,” Ahmad Sabirin said.

At the time of writing on Monday (Jan 9), MGRC shares were half a sen or 0.65% higher at 78 sen each, bringing the group a market capitalisation of RM100.91 million.