Friday, 24 May 2024

NSG BioLabs fuels biotech innovation in Singapore and Southeast Asia

08 May 2024 | News

Partnerships with EnterpriseSG and Merck, alongside investments from Celadon Partners and ClavystBio

image credit- shutterstock

image credit- shutterstock

NSG BioLabs, Singapore's largest provider of biotech co-working laboratory and office space, has announced 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 has also successfully concluded a $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.

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 $400 million in funding and supported hundreds of jobs.
"Singapore's biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023. 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.


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