VentureTECH, a Malaysia-based investment company that is a subsidiary of the Malaysian Industry-Government Group for High Technology (MIGHT) has announced plans to expand its investments in Cell Tissue Technology Sdn Bhd (CTT). This move is primarily targeted to help boost the tissue engineering company scale up in meeting rising demand for tissue engineering Medical products (TEMPs).
The investment will be channeled to develop Medical Infrastructure and acquisition of operating assets such as machinery to expand the production of CTT’s cell-based products. CTT has provided Medical solutions based on its proprietary tissue engineering technology to treat problems such as chronic ulcers, major skin loss, and severe burns.
At present, VentureTECH has investments in 15 companies across three industries – bio-based industry, emerging industry and green industry, and with investee collective net worth of MYR 1.1 billion (USD 264 million). It is seeking to invest in five more companies in 2020.
(Sources: VentureTECH; Malaysian Reserve)