Universiti Sains Malaysia (USM), a public university, plans to build a 30 million ringgits, state-of -the-art building in its proposed biotechnology park here.

The proposed building will house incubation companies, in particular those in the biotechnology-related sector.

The building, which will also house USM’s commercial unit, Usains Holding Sdn Bhd, and the biotechnology park are expected to draw biotechnology investments and professionals to Penang from around the world, said Gan Ee Kiang, managing director of the Usains Group. With that, it is expected to spur the development and commercialization of leading-edge biotechnology products.

In addition, the proposed building, which is expected to be finalized in two years, will also support the research and commercialization activities of other Usains incubator companies from the information technology and semiconductor industries, Kiang said.

Abdul Razak, vice chancellor of USM, said that the biotechnology park will be developed based on research parks such as those in Silicon Valley.

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