Radiopharmaceutical firm Ion Beam Applications (IBA) of Louvain-la-Neuve, Belgium, has entered into negotiations with Bio Molecular Industries to purchase a 35% stake in the Malaysian company.
Bio Molecular Industries, the biotechnology arm of Malaysia Steel Works (Masteel), aims to be a regional radiopharmaceutical production center, with an R&D facility in Asia.
Masteel's managing director and CEO, Datuk Seri Tai Hean Leng, said the agreement worth close to $2 million is expected to be concluded in about a month, according to a report on Bernama.com, the Malaysian News Agency Web site.
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