Biotech innovator forecasts P500Mn contribution to PH economy in 2022
Biotechnology firm InterVenn Biosciences Philippines is projecting a contribution of more than PHP500 million (US$8.89 million) to the Philippine economy in 2022 as it strengthens its presence in the country and the rest of Southeast Asia.
During the launch of its new office at Ortigas Center, Pasig City, InterVenn founder and CEO Aldo Carrascoso said that the company “made significant progress in early cancer detection, thanks to the brilliant and dedicated Filipino engineers we have on board.”
“They help build and maintain the front end, back end, and cloud infrastructure of our next-generation liquid biopsy, as we all work together to reach a world where no one should ever be blindsided by disease,” he added.
Since 2017, InterVenn has been employing about 150 Filipinos in its local operations. The company is a pioneer in pre-cancer screening by using artificial intelligence (AI).
InterVenn Philippines General Manager Axel Kornerup added, “One hundred percent of our software is proudly Philippine-made. We started this venture with the goal of not just having the means of finding a cure and early detection for cancer, but to also showcase to everyone that we Filipinos can achieve this on a global scale.”
The agency is aiming to lure more investments in the field of biotechnology into the country.
