- Oryx Bio-Tech is investing $300 million in the plant
- The plasma fractionation plant will produce plasma derivatives such as albumin, immunoglobulin and coagulation factor VIII
- The plant will have the capacity to process 1,200 tonnes of plasma annually
- The project on 25 acres of land is expected to employ about 2000 high-value jobs
A joint venture with China's largest biopharmaceutical company has started setting up the first ever plasma fractionation plant in Bangladesh that will significantly reduce treatment costs of cancer, stem cell disorders and bone marrow cancer.
Oryx Bio-Tech, the joint venture of the China Biologic Products Holdings and other foreign investors, has said it will bring the plasma-based medicines for these critical diseases in the market in the next two years.
Medication for these diseases in Bangladesh still depends on imports and is very expensive. Each 5ml of the medicines developed from human plasma generally cost between Tk10,000 and Tk35,000.
The China Biologic Products Holdings will provide technical support to the Oryx Bio-Tech plasma fractionation plant located in the Bangabandhu Hi-Tech City in Baliakoir of Gazipur.
Experts and stakeholders say this investment is a breakthrough for Bangladesh's healthcare research and service sector and the beginning of a new era.
Medical products made from human plasma are commonly produced and used in the United States, Europe, China, and a few developing countries.
With an investment of $300 million, Oryx Bio-Tech's plasma fractionation plant will produce plasma derivatives, also known as lifesaving therapeutics like albumin, immunoglobulin and coagulation factor VIII.
The project on 25 acres of land is expected to employ about 2000 high-value jobs from the science and technology background, said investors on Monday at the inaugural ceremony of the plant.
Summit Technopolis Limited, a subsidiary of Summit Group, developed 25 acres of land for the plant under a public-private partnership model.
In his speech as the chief guest of the ground-breaking ceremony, State Minister for ICT Zunaid Ahmed Palak said, "The country will see a reduction in import costs amounting to Tk1,000 crore once the plant comes into operation."
"The Oryx project will open an era of the biotech industry and open the door for other such hi-tech projects for Bangladesh."
He said five out of 28 high-tech parks are now in operation.
"One lakh new jobs will be created once the Hi-Tech City comes into full operation," Palak added.
Fadiah Khan, director of Summit Group, said, "Summit is welcoming hi-tech investors in Bangladesh, a regional hub that will open up a window of opportunities for our tech-savvy youth. Bangladesh has shown its resilience with Covid Management and we are here to support the nation to take the next step of economic growth."
Dewan Shahryar, adviser to managing director of Oryx-Bio-Tech Ltd, said every 5ml of plasma derivatives cost Tk10,000-35,000 at present in Bangladesh.
"But the prices will come down definitely once the plant starts its operation," said Dewan.
However, he did not disclose the exact drop in prices, saying that it will depend on different variables, including production and distribution costs.
"The plant will have the capacity to process 1,200 tonnes of plasma annually and it will set up 20 plasma collection centres all over the country," he said.
Earlier on 10 August last year, Bangladesh Hi-Tech Park Authority, Oryx Bio-Tech Limited and Summit Technopolis Ltd signed a tripartite agreement for setting up the plant.
Among others, Kazi Shakil, chairman of Oryx Biotech, Hosne Ara Begum, managing director of the Bangladesh Hi-Tech Park Authority, and David Bo, managing director of Oryx, also spoke at the programme.