The National Development Co. (NDC) is putting in equity into a P1.3-billion biotechnology manufacturing facility, the first in the Philippines.
This developed as the Philippine Economic Zone Authority (PEZA) is encouraging Malaysia’s leading pharmaceutical company, KL International, to establish presence in a pharmaceutical zone in the country.
NDC in a statement said it is investing P70 million representing 9 percent into the state-of-the-art molecular diagnostic and medical device manufacturing facility in Marikina of Manila Health Tek Inc. (MTek), a Filipino biotechnology firm known for its pioneering work in diagnostics and molecular technology.
The Department of Science and Technology values its investment in the project at above P800 million to be funded in part by a grant.
NDC said the strategic investment was formalized last August 15. The facility, with an area of 600 square meters in a two-storey building, is slated for completion by end November.
The funding from NDC will support the development and production of advanced healthcare technologies, including diagnostic kits, medical devices, and other biotechnology-driven solutions that address the pressing health needs of the Filipino population.
MTek is a spin-off company from the University of the Philippines-Manila that was established after the development of the Biotek M Aqua, a cheaper and faster dengue local testing kit, in 2017. It also part of the team the development GenAmplify Coronavirus 2019 RT-PCR test kit.
A project brief showed NDC’s investment in the internationalization of the new in-vitro diagnostic manufacturing facility will allow MTek to fully modernize its R&D, manufacturing and distribution pipeline and expand to the international market.
Established by Dr. Raul Destura, MTek was awarded with a non-exclusive license to produce, market and sell the technologies in the Philippines under the name Biotek-MTM and registered as a trademark.
The business expansion was endorsed to NDC by the Department of Health.
The internationalization of the first health biotechnology manufacturing facility will provide local and global consumers with accurate, and cost-effective biotechnology solutions.
Meanwhile, PEZA said officials of KL International, were among the attendees of “The Collaboration Dinner 2024: An Economic Collaboration Between Malaysia and the Philippines Leading Healthcare Companies” at Berjaya Hotel, Makati City held recently.
The event served as a platform to explore collaborative opportunities to advance the Philippine medical and pharmaceutical sectors by enhancing healthcare services across the country.
The event marked a key step toward a potential joint venture to establish a manufacturing facility within a PEZA ecozone in the Philippines.
KL International, also the largest hospital furniture manufacturer, has over 50 percent market share and operations in over 30 countries. It has partnered with Karl Group Holding Corp., a local company providing health care solutions for the venture.
PEZA also briefed KL and Karl Group officials on the procedures for registering under the agency and locating in a pharma zone.
PEZA hopes this collaboration will upgrade the country’s hospital facilities and healthcare services, including the integration of digital technologies and processes into healthcare systems to improve patient care and service delivery.
