Malaysian Genomics Resource Centre Berhad Archives

Malaysian Genomics Unveils Strategic Advances in Biopharmaceuticals

Group strengthens cell and gene therapy products as well as genetic screening initiatives to enhance future business growth and technological innovation

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, recorded a revenue of RM2.23 million for the 4th quarter ended 30 June 2023. This represents a decrease from RM6.33 million in the corresponding quarter of the preceding year, owing to a deliberate pivot from vaccines to cell and gene therapy products, focusing more on genetic screening initiatives.

Mr. Azri Azerai, Executive Chairman of Malaysian Genomics

For the quarter under review, the Group recorded a loss before tax (LBT) of RM9.98 million compared with a profit before tax (PBT) of RM2.97 million in the same quarter of the preceding year. The change is largely attributed to the impairment of receivables amounting to RM7.54 million and the Group’s expansion and product development efforts in the fast-moving consumer good (FMCG) market. The Group will continue to implement stringent credit control policy as they move forward with their initiatives, particularly with Rejuvium.

For the current year-to-date, MGRC reported a revenue of RM8.36 million, a decrease from RM28.36 million in the previous year. A LBT of RM13.59 million was registered, largely due to similar factors affecting the quarterly results.

While the financials mark a transitional phase for the Group, MGRC remains robust and adaptable, focusing on both the short-term improvements in revenue and long-term sustainability through product development and market expansion.

Azri Azerai, Executive Chairman of Malaysian Genomics, expressed optimism about MGRC’s future, stating: “MGRC achieved higher revenue in the current quarter as compared to the preceding quarter’s revenue of RM0.68 million, mainly generated from cell and gene therapy products. Our state-of-the-art BSL-2 cell processing lab, cGMP approved by MOH for production of cell and gene therapies, illustrates our technological advancement. Hence, we foresee that we will obtain higher revenue from cell and gene products in the next quarter.”

“Furthermore, we continue to engage with private hospitals and the Ministry of Health in Malaysia to improve access to our cell and gene therapy products. Recent partnerships and our focus on novel ingredients and finished products will target a wide market of use such as for cosmeceuticals, wound healing, general wellness and genetic-based fitness improvement programs that reflect our innovative drive and commitment to enhancing healthcare solutions and more,” continued Azri.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Inks Agreement in Expansion to Bangladesh

Group to cooperate with Toticell to distribute its products and service

Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group’s products in Bangladesh.

Sasha Nordin, Chief Executive Officer of Malaysian Genomics

Azri Azerai, Executive Director of Malaysian Genomics

Toticell, which is based in Dhaka, Bangladesh, specialises in regenerative healthcare focusing on treatments for musculoskeletal conditions such as arthritis, sports-related injuries and tendinopathies.

Under the SCA, the parties agree to cooperate in the distribution of Malaysian Genomics’ cosmeceutical products, genetic screening tests, CAR T-cell therapy services, and other areas of mutual commercial interests.

Mr. Sasha Nordin, CEO of Malaysian Genomics said, “Bangladesh represents a market with vast opportunities given its population of approximately 165 million people. The country’s economy, which is the second-largest in South Asia, is growing rapidly it is identified by Goldman Sachs Inc. as one of the Next Eleven, along with the BRICS economies for potential. Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh.”

Mr. Azri Azerai, Executive Director of Malaysian Genomics, said, “This collaboration with Toticell falls in line with Malaysian Genomics’ strategic expansion plan which includes diversifying geographically and globally.”

In April, MGRC announced that the Group has made progress in establishing partnerships following the signing of SCAs with several Dubai, United Arab Emirates (“UAE”) parties, namely American Spine Center (“ASC”), a Dubai, UAE-based specialist in spinal injury and spine pathology; BALSAM Health Services (“Balsam”), a Dubai, UAE-based healthcare service provider; Wellness by Design FZ LLC (“Wellness by Design”), a Dubai, UAE-based nutrition, obesity and weight loss specialist, and Sharjah, UAE-based IAC International LLC (“IAC”), which is coordinating and developing the partnerships.

MGRC also recently appointed Mr. Aswath Ramakrishnan as its new Independent Non-Executive Director. He is an experienced practising lawyer involved in commercial litigation, shipping and maritime, defamation, corporate and insolvency litigation, asset and debt recovery, intellectual property litigation, arbitration, and cross-border dispute.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics to Boost Play on the Football Pitch

Group collaborates with KLCFC to enhance football players’ performance through genetic screening for peak athletic performance

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, is collaborating with KL City FC Sdn Bhd (KLCFC), the manager of the KL City FC football club, on the deployment of the Group’s genetic screening tests for peak athletic performance.

Dr. Nurul Aqma Anis, Head of Special Projects and Quality of Malaysian Genomics

Stanley Bernard, Chief Executive Officer of KLCFC

Sasha Nordin, Chief Executive Officer of Malaysian Genomics; Giancarlo Gallifuoco, KLCFC defender; and Dato’ Alvin, Executive Director of Malaysian Genomics; at MGRC HQ [L-R]

The collaboration will see the Group conducting analyses of players’ DNA and providing consultations to players and coaching staff on the genetic results in relation to practical opportunities to improve sports physiology, nutrition, strength and conditioning, injury prevention, and recovery. KLCFC will share with the Group feedback related to the results and outcomes of modifications to its team’s existing training, nutrition and recovery protocols after the incorporation of genetic results.

Dr. Nurul Aqma Anis, Malaysian Genomics’ Head of Special Projects and Quality said, “Having started offering genetic screening tests in 2012, Malaysian Genomics is Southeast Asia’s most well-established DNA company and our genetic test for peak athletic performance is one of the latest in our test portfolio. By collaborating with professional sports teams like KLCFC, among others, we can monitor the impact and outcome of genetic-based recommendations for athletic training and recovery, ensuring that our genetic tests and resulting recommendations offer practical information and benefits for professional athletes and weekend warriors alike.”

Stanley Bernard Stephan Samuel, Chief Executive Officer of KLCFC said, “Top athletes are at a competitive edge in professional sports hence the information obtained from genetic testing will directly assist the athlete to understand themselves more in the aim to reach optimum level of performance.”

“I was amazed by the tremendous amount of information generated in my genetic screening report from Malaysian Genomics. In just the first review of my report, the Malaysian Genomics team and I were able to identify practical and immediately actionable changes to my supplement regime as well as warm-up exercises, which I would not have known to do without this test. I can’t wait to experience the positive impact it has on me on the pitch,” said KLCFC defender, Giancarlo Gallifuoco.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Pivots to Biopharmaceuticals for Growth

Group reports lower revenue for 2Q on switch to immunotherapy and cell therapies from vaccines

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today announced that the Group recorded a revenue of RM1.64 million for the second quarter ended 31 December 2022 (2Q 2023). This amount is down from RM7.63 million in 2Q 2022, as the Group moved its focus from vaccines to biopharmaceuticals.

En Azri Azerai, Executive Director of Malaysia Genomics Resource Centre Berhad

For the quarter under review, the Group recorded a loss before tax (LBT) of RM1.27 million compared with a profit before tax (PBT) of RM1.01 million in 2Q 2022, mainly due to business expansion and production of fast-moving consumer goods (FMCG), which required additional human resource capital, research and development expenditure, and marketing.

For the first six months ended 31 December 2022 (1H 2023), the Group recorded a revenue of RM5.46 million, which is a RM11.48 million decrease from the RM16.94 million registered in 1H 2022. The Group reported a LBT of RM0.43 million for 1H 2023 compared to a PBT of RM1.25 million in the corresponding period in the previous financial year.

Azri Azerai, Executive Director of Malaysian Genomics, said, “Our Group remains committed to sustaining growth over the longer term by focusing on immunotherapy and cell therapies under the biopharmaceutical business we are expanding through our distribution network in the Middle East and Southeast Asia. We are also developing new FMCG products to offer to these new markets while seeking to expand into other markets. Our recent initiatives include a commercial collaboration on an innovative genetic test for reproductive health and the development of novel phytopharmaceuticals with potential therapeutic and commercial value.”

“The financial performance for the quarter under review was mainly affected by the need to spend in support of the pivot to biopharmaceuticals, which the Group is well positioned to take advantage of given our track record as a leading provider of genetic screening and genome analysis services,” he added.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics to Collaborate on Cannabinoid R&D

Group joins MAHSA University and Kensana Health to develop phytopharmaceutical and biotechnology products for commercialisation

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today announced that the Group has entered into a strategic collaboration with Kensana Health Canada and MAHSA University for the research and development (R&D) of phytopharmaceutical and biotechnology products that can lead to commercialisation.

Dato’ Alvin Joseph Nesakumar, Executive Director of Malaysian Genomics

Kensana Health Canada is a biotechnology specialist focused on the R&D of cannabinoid treatments and management of wounds partnered with a German multinational phytopharmaceutical company. MAHSA University is a private Malaysian university focused on allied health sciences with a 48-acre campus in Bandar Saujana Putra, Selangor and a diverse population of students from 75 countries.

The strategic collaboration involves all three parties conducting joint R&D on species improvement, identification, formulation and pre-clinical testing of novel phytocompounds with potential therapeutic and commercial value, among other areas.

Dato’ Alvin Joseph Nesakumar, Executive Director of Malaysian Genomics said, “The Group welcomes this strategic collaboration with MAHSA and Kensana to expand R&D activities utilising plant-based formulations to produce results that can be commercialised in countries where the law allows the use of cannabinoid medications. In Malaysia, there are also moves to register cannabidiol products this year.”

“We have the market knowledge and expertise in the distribution of healthcare-related products while our track record of collaborations and partnerships will help support the Group’s focus on the biopharmaceuticals business for growth and sustainability. We also have necessary lab equipment to support the R&D efforts.”

Mr. Ken Clement, Chairman and CEO of Kensana Health Canada said, “We look forward to working with Malaysian Genomics and MAHSA by providing our technology and knowledge in advancing the R&D efforts. We have the proprietary knowledge as well as the proven techniques in standardised cannabinoid crops and recipes and have a unique approach to wound management where we are a worldwide leader.”

Dato’ Dr. Shahril bin Tan Sri Prof. Datuk Haniffa, Group Managing Director of the MAHSA group of companies and MAHSA University said, “This collaboration brings together parties with expertise and knowledge in their fields that we look forward to working and sharing with in areas that the university is interested to see expanded on. Besides identifying novel bioactive compounds with potential therapeutic uses, the collaboration includes offering education and training programmes to stakeholders, inclusive of health professionals, educational institutions and hospitals that is also an important component of advancing the health sciences.”

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics to Offer World’s First DNA-Driven Fertility Test

Group in strategic collaboration with Divine Genes to offer genetic tests related to reproductive health in Malaysia and overseas

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today announced that the Group has signed a strategic collaboration agreement with Divine Genes Sdn Bhd to collaborate on business opportunities in relation to the improvement and international distribution of genetic tests for reproductive health.

Sasha Nordin, Chief Executive Officer of Malaysian Genomics Resource Centre Berhad

Divine Genes is an investment holding company with businesses in pharmaceutical product distribution, financial consultancy services as well as general merchandise and trading.

Under the strategic collaboration, Divine Genes’ genetic test for reproductive health will be added to Malaysian Genomics’ genetic test portfolio, which will market and distribute these tests in Malaysia and overseas. Both parties will also cooperate in improving the product.

En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics said, “Decreasing fertility and birth rates are common across the world, and demand for reproductive medicine is growing in many countries. This new, pioneering DNA-driven fertility test can help reproductive health specialists and their patients make important decisions in support of improving the outcome of fertility treatments. This test will form a critical part of Malaysian Genomics’ genetic screening portfolio of over 550 tests available across Southeast Asia and the Middle East where we have a presence.”

Dr. Pawel Suwinski, Director of Divine Genes said, “This is a good opportunity for us to work with an organisation with the market reach, track record and platform to distribute our test. This collaboration is a good platform for both parties to leverage on each other’s strengths in improving the product and expanding the market for the test.”

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Explores R&D Collaboration with SIRIM

Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, is pleased to announce a strategic cooperation with SIRIM Berhad, to explore the commercialisation of joint research and development (R&D) projects in the medical and biotechnology fields.

SIRIM Berhad is wholly owned by the Malaysian Government, and is focused on R&D, standardisation and quality. The organisation acts as a catalyst for industrial development through programmes involving technology and standardisation.

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.

Encik Sasha Nordin, Chief Executive Officer of Malaysian Genomics, said, “SIRIM and Malaysian Genomics 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.”

President and Group Chief Executive Officer of SIRIM Berhad, Dato’ Indera Dr Ahmad Sabirin Arshad said, “We look forward to working closely with Malaysian Genomics on R&D projects that 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.”

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

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Sees Rise in Profit Margins for 1Q

Group seeks investment opportunities to expand reach of products and services

Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today reported a revenue of RM3.81 million for the first quarter ended 30 September 2022 (1Q 2023) versus a revenue of RM9.32 million in 1Q 2022, as the Group refocuses on immunotherapy and cell therapies under the biopharmaceutical business and pushes for organic growth of its genetic screening business.

Independent Non-Executive Chairman, Dato’ Seri Dr Chen Chaw Min

The Group recorded a 254.16% increase in profit before tax (PBT) to RM0.85 million for 1Q 2023, compared with RM0.24 million in the corresponding quarter of the previous financial year, on higher profit margins and revenue contributions from the new biopharmaceutical business.

Earnings per share for 1Q 2023 stood at 0.68 sen compared with 0.20 sen in 1Q 2022.

Dato’ Seri Dr Chen Chaw Min, Independent Non-Executive Chairman of Malaysian Genomics said, “The Group’s pivot to immunotherapy and cell therapies from vaccine distribution continues to pay off as PBT improves on higher profit margins. We expect more improvements to the biopharmaceutical business as the Group’s expansion of its distribution network and footprint overseas in the Middle East and Southeast Asia takes shape.”

“We are pushing the genetic screening business as the Group continues to reach out through business-to-consumer channels for a wider market reach. We believe better awareness and education is prompting more people to take action on how they can enhance their health, and the Group will leverage on this through catering to the different needs and groups from our suite of healthcare-related solutions. We are also seeking to acquire assets or invest in businesses that will support the expanded market reach of our products and services.”

“The Group is well positioned to be a leading provider of genetic screening, genome analysis, and biopharmaceutical products in Southeast Asia, as we are equipped with a high-throughput sequencing lab, an advanced microarray facility, and a new state-of-the-art cGMP cell processing lab for cell therapies, including immunotherapy for various types of cancers. We are confident that we are in a position to provide patients with better access to the latest precision and personalised healthcare solutions.”

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Signs Strategic Collaboration Agreement for Expansion in the UAE

Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced the signing of a Strategic Collaboration Agreement (SCA) outlining partnerships to market and distribute the Group’s Dtect(R) range of genetic screening services in the United Arab Emirates (UAE).

Other than Malaysian Genomics, the SCA involves American Spine Center (ASC), a Dubai, UAE-based specialist in spinal injury and spine pathology; BALSAM Health Services, a Dubai, UAE-based healthcare service provider; Wellness by Design FZ LLC, a Dubai, UAE-based nutrition, obesity and weight loss specialist, and Sharjah, UAE-based IAC International LLC.

Under the SCA, Malaysian Genomics, ASC, Balsam and Wellness by Design will explore common strategies for joint or allied projects that translate to innovative healthcare tools or solutions, while the role of IAC is to support activities in priority areas, aligning the parties and work with other organisations, where appropriate. IAC will also be the point of contact between Malaysian Genomics and ASC, Balsam and Wellness by Design.

Noor Azri bin Dato’ Sri Noor Azerai, Executive Director of Malaysian Genomics, said, “The SCA will allow us to formally explore how the parties can work together, including technical trials and evaluation of our Dtect screening tests for commercialisation in the UAE. Malaysian Genomics’ role will be to provide technical and scientific support under the SCA. In addition, we constantly look for opportunities to partner with like-minded businesses and organisations in expanding our market reach for Dtect and our other services.”

Dr. Hisham Hakim, Chairman of ASC, BALSAM and Wellness by Design, said, “We welcome this first step in a working relationship with Malaysian Genomics and IAC, and look forward to the inclusion of Dtect to offer more choices to our patients. We are committed to clinical and technological excellence as we bring coordinated patient care with compassion and commitment while ensuring cost efficiency.”

Ms. Nurul Faten Jasmee, CEO of IAC, said, “There are lots of opportunities for the expansion of genetic screening services in the UAE and the wider Middle East and North Africa (MENA) region. We will provide the coordination, business delivery and project management between the parties during the technical trials for Dtect in the UAE, followed by the commercial rollout and expansion throughout the MENA region.”

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Malaysian Genomics Signs Agreement with National Institutes of Health to Explore Research Opportunities

Both parties to collaborate on research in genomics and biopharmaceuticals

MGRC Therapeutics Sdn Bhd (MGRC-T), a wholly-owned subsidiary of Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, has entered into a cooperation agreement with the National Institutes of Health, Malaysia (NIH), providing a framework for collaboration between the two parties in medical research pertaining to genomics and biopharmaceuticals.

The National Institutes of Health (NIH), the research arm under the Ministry of Health Malaysia, comprises six research institutes that focus on biomedical research, public health and epidemiology, clinical research, behavioural health research, health management and health policies. The NIH is mandated to conduct high-impact health research to improve the quality of life of the Rakyat. The health research conducted by the NIH is in line with the Health Research Priority Areas for each five-yearly Malaysia Plans.

MGRC-T specialises in genomics and biopharmaceutical services with proprietary know-how and intellectual property related to the research, development, and processing of genetic screening tests, as well as the manufacturing of cell therapies, including immunotherapy for various types of cancer.

Dato’ Alvin Joseph Nesakumar, Executive Director of Malaysian Genomics, said, “The cooperation agreement enables us to explore ways that we can work together with NIH to improve the quality of our genomics and biopharmaceutical services that can contribute to improving the health of the Rakyat. We consider this collaboration a good step in encouraging and promoting research in genomics and biopharmaceuticals that will be mutually beneficial.”

Dr S Asmaliza Ismail, Manager of the NIH said, “We welcome this agreement as we are keen to work with specialists such as Malaysian Genomics to exchange knowledge in various fields of medical research. We believe that by working and pooling our resources together, we can bridge the gaps in expertise and experience.”

Under this agreement, the parties will explore joint training in the field of medical research, exchange research materials, and partake in scientific data presentation and publication. Additionally, the agreement will enable the exchange of experts and personnel, including postgraduate research and students on adjunct appointments, short- and long-term research attachments, co-supervision of students conducting research and internships, as well as other areas of cooperation to be mutually decided.

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/