The Government has already allocated RM100 million under the Ninth Malaysia Plan (9MP), and more funds will be raised from financial institutions, Government-linked companies (GLCs) as well as local and foreign private investors.
Malaysian Technology Development Corp Sdn Bhd (MTDC) chief executive officer Azlin Alias said the enlarged fund will be invested in emerging and successful biotechnology companies in both Malaysia and overseas.
He said the companies will be selected based on Malaysia's biotech aspirations in fields such as healthcare, agri-biotechnology and industrial.
Speaking to Malaysian reporters at the sidelines of the Biotechnology Industry Organisations International Convention (Bio 2006) here yesterday, Azlin said proposals will be jointly evaluated by MTDC and San Francisco-based Burill & Co, which is the world's pioneer venture capital company in the field of biotechnology.
Out of the US$200 million (RM734 million), US$140 million (RM514 million) will be invested in about 20 companies, while the remaining will be invested in the Burill Life Science Capital Fund.
Burill manages about US$650 million (RM2.37 billion) in funds, investing in life sciences, healthcare, industrial, health and wellness, nutrition and agricultural biotechnlogy.
It also has businesses in media, merchant banking handling mergers and acquisitions, acquire technologies, R&D partnerships, and spin technologies out of companies and sell them.
Malaysian Technology Development Corp Sdn Bhd (MTDC) chief executive officer Azlin Alias said the enlarged fund will be invested in emerging and successful biotechnology companies in both Malaysia and overseas.
He said the companies will be selected based on Malaysia's biotech aspirations in fields such as healthcare, agri-biotechnology and industrial.
Speaking to Malaysian reporters at the sidelines of the Biotechnology Industry Organisations International Convention (Bio 2006) here yesterday, Azlin said proposals will be jointly evaluated by MTDC and San Francisco-based Burill & Co, which is the world's pioneer venture capital company in the field of biotechnology.
Out of the US$200 million (RM734 million), US$140 million (RM514 million) will be invested in about 20 companies, while the remaining will be invested in the Burill Life Science Capital Fund.
Burill manages about US$650 million (RM2.37 billion) in funds, investing in life sciences, healthcare, industrial, health and wellness, nutrition and agricultural biotechnlogy.
It also has businesses in media, merchant banking handling mergers and acquisitions, acquire technologies, R&D partnerships, and spin technologies out of companies and sell them.
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