13th August 2012

Malaysian Investment to Boost Funding, Employment and R&D at Cardiff based Neem Biotech

Cardiff-based Neem Biotech and its intellectual property have been acquired by Malaysian headquartered pharmaceutical company InQpharm.

Neem Biotech extract the active compounds from plant and marine life to develop pharma- and nutraceuticals for human consumption, as well as developing other products for the agricultural sectors.

InQpharm said it will invest in production facilities at the South Wales base to manufacture products developed by Neem Biotech’s research and development activities for sale globally.

InQpharm said this investment would bring funding, resources and sales channels and would secure a long-term flow of investment into South Wales to create jobs and the establishment of R&D and production facilities.

Neem Biotech has partnerships with Welsh and international universities and owns patents and a pool of research data.

David Williams, chairman of Neem Biotech, said: “The acquisition demonstrates the international appeal that Welsh biotechnology businesses have within the global healthcare and pharmaceutical marketplace.

“Neem Biotech will bring additional competences to InQpharm, and will be a conduit between the global pharmaceutical market and the excellent technology and scientific resources here in Wales.”

Thomas Hafner, InQpharm chairman and chief executive, added: “The acquisition of Neem Biotech is intended to capture the capability and knowhow built up over many years by Neem Biotech.

“It strengthens InQpharm’s position as an innovator in the global pharmaceutical market and extends our research capability to develop, manufacture and commercialise new therapeutic compounds.”

(This article has been amended by MediWales.  For the original article, please click here)