Kuala lumpur: The Malaysian Technology Development Corporation (MTDC) today formalised a strategic investment agreement with Oncode Scientific Sdn Bhd (Oncode), a local health deep tech firm specialising in molecular diagnostics and precision medicine.
According to BERNAMA News Agency, the agreement was signed by MTDC group chief executive officer (CEO) Mohammad Hazani Hassan and Oncode founding CEO Associate Professor Dr. Lim Su Wen, witnessed by Science, Technology and Innovation (MOSTI) Minister Chang Lih Kang. Chang highlighted that the collaboration marks a significant milestone in reinforcing Malaysia's deep tech ecosystem and supports MOSTI's broader mission to foster 5,000 local tech startups by 2025, as laid out in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030.
Chang emphasized that MTDC, which has supported over 700 companies, acts as a funding body, capacity builder, ecosystem connector, and industry partner. The investment will aid Oncode's efforts to expand personalised diagnostics and establish molecular diagnostics laboratories in local hospitals, in line with the National Technology and Innovation Sandbox (NTIS). These labs will serve as testbeds for piloting advanced healthcare innovations, supported by regulatory facilitation and sandbox mechanisms to expedite deployment.
The minister also mentioned the MyGenom project, Malaysia's national genome initiative aimed at sequencing 10,000 genomes for personalised and predictive healthcare. He reassured that MOSTI is committed to supporting initiatives that provide better healthcare, high-skilled jobs, and globally competitive Malaysian technologies, reinforcing the MADANI government's dedication to innovation and shared prosperity.
Meanwhile, Mohammad Hazani underscored MTDC's role in bridging the gap between research and commercialisation. He highlighted MTDC's achievements since its inception in 1992, including funding over 850 technology firms, facilitating 18 successful IPOs, nurturing over 11,500 knowledge workers, and contributing significantly to revenue and exports. MTDC's investment in Oncode reflects its mission to support expertise in molecular diagnostics and translational science.
Hazani also noted MTDC's expanded infrastructure, with seven Industry 4.0 Centres of Excellence focused on various technological advancements. He expressed gratitude to MOSTI for its continuous support, reiterating MTDC's commitment to positioning Malaysia as a regional technology leader.