KUALA LUMPUR (May 27): Meta Bright Group Bhd (KL:MBRIGHT) has signed a memorandum of understanding (MOU) with ChemPartner Pharmatech Co Ltd to develop a pharmaceutical and biotechnology (biotech) hub in Malaysia.

In a filing with Bursa Malaysia on Monday, the group said that the hub would focus on research and development, manufacturing, and commercialisation of pharmaceutical products and biotech advancements.

“This initiative represents a pioneering collaboration with ChemPartner, a leading Chinese-listed company, to establish such a hub in Malaysia,” it said.

Meta Bright said ChemPartner, a listed company on the Shenzhen Stock Exchange with a market capitalisation of approximately RM1.6 billion, is renowned for offering comprehensive, integrated services, including discovery chemistry, biology, pharmacology, drug metabolism and pharmacokinetics, and toxicology.

“Under the MOU, Meta Bright will identify a strategic site for establishing the hub, and oversee the construction and development of laboratories, manufacturing facilities, and office/retail spaces.

“Additionally, Meta Bright is committed to implementing environmentally sustainable practices to minimise ecological impact and promote green initiatives,” it said.

The company added that ChemPartner will seek and facilitate investment opportunities to support the hub’s growth, engaging with China’s pharmaceutical and biotech companies, academic institutions, and research organisations to foster collaboration.

Meta Bright managing director Lee Chee Kiang said this project would differentiate the company from typical developments, as it involves creating a niche market with a leader in the pharmaceutical and biotech sectors.

“Moving beyond traditional development projects, we have positioned ourselves to take on sophisticated projects.

“We are confident that this venture will solidify our position as a leading player in the market, and contribute to the broader economic development of Malaysia,” he added.

The MOU signing ceremony was witnessed by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi in Shanghai, China.