Singapore has further strengthened it's position as a biomedical hub by attracting Genentech Inc. to set up its first Asia Pacific biotechnology manufacturing facility. 
 
Widely credited as pioneer and leading biotechnology corporation, Genentech was founded in 1976 by a venture capitalist - Robert A. Swanson, and a biochemist - Herbert W. Boyer. The California-based company is holding its groundbreaking ceremony for the US$140 million facility on June 28, 2007; witnessed by the key Genentech executives and Singapore’s Minister of State for Trade & Industry, Mr S Iswaran.
 
Some of the products that have been commmercialized by Genentech after 31 years in the industry are like: Activase/Cathflo, Nutropin, Pulmozyme, Rituxan, Herceptin, TNKase, Xolair, Raptiva, Avastin, Tarceva, Lucentis. The company reported a revenue of US$9.284 Billion for the year 2006.
 
The breaking of ground took place at the site of the manufacturing facility at Tuas Bay Link, Tuas Biomedical Park. It is not immediately clear yet what products will be produced in its Singapore facility.