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Malaysian Genomics Records Progressive Growth In Biopharmaceuticals And Cell Therapies

Publish date: Tue, 28 Nov 2023, 02:57 PM

Malaysian Genomics Records Progressive Growth In Biopharmaceuticals And Cell Therapies

Strategic Focus on Cell Therapies and Genetic Screening Enhances the Group’s Market Position   

PETALING JAYA, 28 NOVEMBER 2023Malaysian Genomics Resource Centre Berhad (“MGRC” or “the Group”), a leading genomics and biopharmaceutical specialist, has reported a quarter-on-quarter (“QoQ”) revenue increase, underscoring the Group’s growing focus on cell therapies. For the quarter ended 30 September 2023, the Group achieved a revenue of RM2.27 million, a slight increase from the preceding quarter's RM2.23 million, primarily attributed to the strengthening of cell therapy services.

In a year-over-year (“YoY”) comparison, the Group observed a reduction in revenue from RM3.81 million in the previous year to RM2.27 million. This decrease is partly due to a shift in sales focus from immunotherapy to cell therapies, which now constitute approximately 78% of the total revenue. Despite this shift, the Group continues to enhance cell therapy offerings, and continues to expand immunotherapy services. The Group is also actively working on the organic growth of genetic screening business and expanding into new markets, including the fast-moving consumer goods (“FMCG”) sector.

For the current quarter, Malaysian Genomics recorded a loss before tax (“LBT”) of RM1.49 million, compared to a profit before tax (“PBT”) of RM0.85 million in the same quarter of the preceding year. However, it is also noteworthy that the LBT has significantly narrowed from RM9.98 million in the preceding quarter, indicating a positive improvement in the Group's financial performance.

Azri Azerai, Executive Chairman of Malaysian Genomics

Azri Azerai, Executive Chairman of Malaysian Genomics said, “Our strategic focus on cell therapies, genetic screening and clinical trial is foundational for our future growth and sustainability. We are optimistic that our efforts in these areas will continue to yield positive results and strengthen our position in the market.”

He added, “In fact, prospects for Malaysian Genomics remain robust. The Group is well-positioned as a leading provider of genetic screening, genome analysis, and biopharmaceutical products and services in Southeast Asia. By utilising our advanced facilities, including a high-throughput sequencing lab, microarray facility, and state-of-the-art BSL-2 cell processing lab approved by Ministry of Health (“MOH”), we are dedicated to delivering precision and personalised healthcare solutions.”

In line with the Group’s growth strategy, Malaysian Genomics is actively seeking and engaging with strategic partners across Southeast Asia, the Middle-East North Africa region, and the United States to expand the Group’s distribution network. For information, Malaysian Genomics is also leveraging the Group’s expertise to develop a range of products for the FMCG market, including novel ingredients and finished products for cosmeceuticals, wound healing, and genetic-based fitness improvement programs.

Back on the Malaysia market, Malaysian Genomics maintains close collaboration with private hospitals and the Ministry of Health, enhancing the Group’s access to advanced immunotherapies. With these concerted efforts, Malaysian Genomics is poised to enhance market presence and deliver cutting-edge healthcare solutions.

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