Verdezyne has been awarded “BioNexus” status by Malaysian Biotechnology Corporation (BiotechCorp), an agency under the purview of the Malaysian Ministry of Science, Technology and Innovation (MOSTI). As part of its collaboration with BiotechCorp, Verdezyne expects to open a bio-based chemical production facility in Malaysia, in which Verdezyne will make a significant investment.

BioNexus status is awarded to qualified companies undertaking value-added biotechnology and/or life sciences activities in Malaysia, and includes fiscal incentives, grants and other guarantees to assist growth.