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SINGAPORE, May 8, 2024 /PRNewswire/ -- NSG BioLabs, Singapore's largest provider of biotech co-working laboratory and office space, announces partnerships with Enterprise Singapore (EnterpriseSG), the Singapore government agency championing enterprise development, and Merck, a leading science and technology company, to bolster the biotech landscape by providing needed resources such as funding, expertise and networks to advance startup research and development (R&D). The company also successfully concluded a US$14.5 million financing round led by Celadon Partners, an Asian private equity firm, and ClavystBio, a life science investor and venture builder set up by Temasek to accelerate the commercialisation of breakthrough ideas to health impact. These achievements reaffirm NSG BioLabs' strength and expertise in providing high-quality, well-managed, and turnkey Biosafety Level 2 (BSL-2) certified laboratory and office spaces. Moreover, these milestones underscore NSG BioLabs as an ecosystem catalyst, providing value-add services and networks, which are important in driving scientific innovation and business growth.
Since 2019, NSG BioLabs has been assisting innovators in creating impactful solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in areas such as precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology. With the largest co-working biotech laboratory and office footprint in Singapore, coupled with extensive networks with partners, suppliers and industry experts, NSG BioLabs has helped over 40 companies as residents. The company's residents include several multi-billion-dollar multinationals as well as many promising startups that have achieved key milestones. The startup residents alone have successfully raised nearly US$400 million in funding and supported hundreds of jobs.
"NSG BioLabs is committed to supporting innovators and proud to have helped in Singapore's growing biotech ecosystem. Our partnerships with EnterpriseSG and Merck signify the importance of a collaborative spirit, and we hope to spur greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia Pacific region," said Daphne Teo, CEO and Founder of NSG BioLabs, "Also, we are thankful for the recognition from our strategic investors, Celadon Partners and ClavystBio, and look forward to further empowering our residents in their innovation efforts through expanded facilities, enhanced value-add offerings, and greater exposure to valuable industry networking and mentorship experiences."
NSG BioLabs has been part of EnterpriseSG's Startup SG Accelerator programme since 2019[1]. NSG BioLabs is excited to announce its renewed partnership with EnterpriseSG to invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions.
"Singapore's biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023[2]. EnterpriseSG will continue to work with industry partners like NSG BioLabs to drive the development of new deep tech innovations such as AI-enabled platforms and targeted therapies by providing patient capital, infrastructure and expertise. This will strengthen Singapore's edge in precision medicine and revolutionise healthcare delivery," said Dr Clarice Chen, Director of Healthcare and Biomedical, EnterpriseSG.
To further its mission of supporting biotech innovators, NSG BioLabs also closed a US$14.5 million strategic investment round, led by Celadon Partners with participation from ClavystBio. With these fresh funds, NSG BioLabs intends to enhance its product and services and to introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.
"As the Southeast Asia biotech sector experiences tremendous growth driven by healthcare needs, we are confident that NSG BioLabs' innovative co-working model can offer compelling solutions for biotech startups and companies across the region. NSG BioLabs' dedication to empowering companies to fast-track their research and development efforts is commendable," said Donald Tang, Managing Partner at Celadon Partners.
"ClavystBio is excited to foster the growth of Singapore's life science ecosystem through our support of NSG BioLabs, and its resident startups. This investment reinforces ClavystBio's mission to accelerate breakthrough science into health impact through venture building, and strategic partnerships," said Khoo Shih Ph.D. Chief Executive Officer at ClavystBio.
As a key platform in the region with established and growing scale, NSG BioLabs fosters mutually beneficial connections between its residents and other key parties. To further enable its residents to develop, grow and scale-up, NSG BioLabs has secured a partnership with Merck to provide its residents special terms for Merck's reagents, and equipment in life sciences. The partnership also includes preferential access to biopharma processing expertise and consultation for scaling-up production.
Since its inception, NSG BioLabs has been supporting biotech startups and multinational companies by providing BSL-2 certified private and shared laboratory spaces and offices, equipment, as well as, privileged access with service providers and suppliers, and community engagement. After its first site opening in November 2019, NSG BioLabs expanded with its second site in August 2021, and recently 2023 with its third site. Now, with three sites totaling 35,000 square feet, NSG BioLabs cements its space as a key hub for biotech innovation. As one of the largest private biotech incubators in the region, coupled with its recent partnerships and strategic investors, NSG BioLabs is poised to enhance its value-add offerings of infrastructure, services, and networks to its growing community.
About NSG BioLabs
Founded with a focus on supporting biotech innovation, NSG BioLabs offers state-of-the-art equipment, efficient operations, capital efficiency, the expertise of world-class teams and global networks to assist life sciences companies. The conducive R&D environment contains fully-equipped, certified BSL-2 laboratory and office infrastructure across 35,000 sq ft in the prime location of Biopolis in Singapore.
By providing access to high-quality infrastructure, its extensive partner network, community, and value-add benefits, NSG BioLabs ensures that companies, ranging from emerging biotech startups to multinational companies, can rapidly and efficiently execute on their cutting-edge research and development ecosystem in Singapore, leading to the innovation of revolutionary technologies and products that translate into breakthrough biotech ventures and impact for patients.
For more information, visit www.nsgbio.com
[1] EnterpriseSG's Startup SG Accelerator supports startup enablers, such as incubators and accelerators to nurture the development of high potential Singapore-based startups. |
[2] Singapore Venture Funding Landscape 2023 by DealStreetAsia |
