KUCHING: A local medical device innovation company, Twin Catalyst Sdn Bhd, has inked a licensing and technology transfer memorandum of understanding (MOU) with Savewo International Limited in Beijing.
The said signing which took place on Friday was witnessed by Deputy Premier Datuk Amar Awang Tengah Ali Hasan together with permanent secretary of the Ministry of Education, Innovation, and Talent Development Azmi Bujang, and the Sarawak Research and Development Council general manager Dr Peter Morin Nissom.
According to a statement by Twin Catalyst, the MOU involved an investment worth over RM30 million to license and manufacture Wondaleaf products and distribute them to the world.
The Sarawak-based company stated that through this cooperation with Savewo Limited, they anticipate seeing Wondaleaf Products in Taiwan, Hong Kong, Europe, Sri Lanka, and other places by next year, pending a successful safety assessment by authorities.
For the record, the Twin Catalyst was first supported by Cradle Fund and the Ministry of Science, Technology and Innovation, to conduct clinical trials and intellectual property submissions.
Subsequently, it was also funded by the Sarawak Research and Development Council to conduct further research and commercialisation activities worldwide.
Commenting on the MOU, Awang Tengah said that the investment represents Sarawak’s growing medical innovation and manufacturing industry and demonstrates the efforts by the government to support small and medium-sized enterprises (SMEs) in introducing local products to the world.
Meanwhile, Twin Catalyst chief executive officer Dr John Tang pointed out that there is a lot of effort that goes into bringing a new, high-risk, medical product to the market.
“Many years of clinical research and government assessment, and millions of dollars go into the development of a single device.
“We could not be where we are today without the assistance of both the state and federal governments – their investment into Sibu gives us the know-how, talent, and ability to invent more devices in the future,” he said.
In line with this, Savewo Limited general manager Harry Wong shared that his company has always been keen on investing further in Sarawak technologies and companies.
“We are pleased to work with Twin Catalyst – their vision to help others through innovative technologies is similar to ours.
“The company became one of Hong Kong’s major medical device manufacturing companies recently, manufacturing disinfecting robots, air conditioners, and masks,” he said.
