YB. R.S.N RAYER - A.D.U.N. SERI DELIMA, PENANG

GEORGETOWN: Chakra Biotech Sdn Bhd, a company specialising in screening new drugs, plans to invest US$8mil in Penang. Chakra Biotech is a joint venture between Malaysian Life Science Capital Fund and Malaysian Technology Dev-elopment Corp. A major stake holder in MLSCF is Burrill & Co, a US-based venture capital company.

Chakra Biotech chief executive officer Anthony Bishop said the company had allocated about US$8mil to kick off its operations in Penang.

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