MTDC Invests In Oncode To Boost Malaysia's Healthtech And Deep Tech Ecosystems

KUALA LUMPUR, Aug 5 (Bernama) -- The Malaysian Technology Development Corporation (MTDC) today formalised a strategic investment agreement with Oncode Scientific Sdn Bhd (Oncode), a local health deep tech firm specialising in molecular diagnostics and precision medicine.

The agreement was signed by MTDC group chief executive officer (CEO) Mohammad Hazani Hassan and Oncode founding CEO Associate Professor Dr Lim Su Wen, witnessed by Science, Technology and Innovation (MOSTI) Minister Chang Lih Kang.

Earlier in his speech, Chang said the collaboration marks a significant milestone in strengthening Malaysia’s deep tech ecosystem, not merely symbolic, but represents a significant step in supporting MOSTI's broader mission to strengthen Malaysia's deep tech ecosystem. 

"As outlined in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, MOSTI aims to create 5,000 local tech startups by 2025 while fostering greater private sector involvement in research, development, and commercialisation (R&D&C),” he said.

Chang noted that MTDC, having supported over 700 companies, serves not only as a funding body but also as a capacity builder, ecosystem connector and trusted industry partner.

"The investment will support Oncode’s efforts to expand personalised diagnostics and set up molecular diagnostics laboratories in local hospitals, aligned with the National Technology and Innovation Sandbox (NTIS). 

“These sites are testbeds for piloting advanced healthcare innovations including robotics, biosensors, and molecular diagnostics, supported by regulatory facilitation and sandbox mechanisms to fast-track deployment,” he said.

Chang also highlighted the MyGenom project, Malaysia’s national genome initiative, which seeks to sequence 10,000 genomes for personalised and predictive healthcare.

He said MOSTI stands ready to continue supporting initiatives that deliver tangible benefits to the people, whether in the form of better healthcare, high-skilled jobs or globally competitive Malaysian technologies, adding that the MADANI government remains committed to driving innovation, investment and shared prosperity.

Meanwhile, Mohammad Hazani underscored MTDC’s role in bridging the gap between research and commercialisation.

“As a technology venture company under MOSTI, MTDC was established to address a long-standing challenge in Malaysia's innovation journey – the crucial gap between research breakthroughs and market-ready technologies,” he said.

Since its founding in 1992, Hazani said MTDC has funded more than 850 technology firms, facilitated 18 successful initial public offerings (IPOs), nurtured over 11,500 knowledge workers, and contributed to RM8 billion in revenue and RM1 billion in exports.

Additionally, he stated that MTDC’s ecosystem companies have filed more than 700 intellectual property rights and secured approval for 133 NTIS projects, enabling the real-world implementation of local innovations.

“Our investment in Oncode Scientific reflects this very mission. We see in Oncode not only deep expertise in molecular diagnostics and translational science but also the ambition and capability to shape Malaysia's healthtech frontier," he said. 

To further support innovation, Hazani noted that MTDC has expanded its infrastructure, establishing seven Industry 4.0 Centres of Excellence focusing on robotics, augmented and virtual reality (AR/VR), generative artificial intelligence (AI), smart farming, medical technology and geospatial systems.

He also thanked MOSTI for its ongoing support, reiterating MTDC’s commitment to positioning Malaysia as a regional leader in technology.

-- BERNAMA