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ClavystBio, a life sciences investor and venture builder established by Temasek, and the Agency for Science, Technology and Research (A*STAR), Singapore's lead public sector R&D agency, have signed a Memorandum of Understanding (MoU) to create and grow medtech ventures in Singapore.
This partnership will support venture creation, product development, and commercialisation by bringing together ClavystBio and two national initiatives hosted by A*STAR — MedTech Catapult and the Diagnostics Development Hub (DxD Hub) — along with A*STAR's broader medtech and venture creation capabilities.
The partnership comes amid growing momentum in Singapore's biomedical landscape, with medtech output reaching S$20 billion in 2023. As Asia's medtech market is projected to grow to $225 billion (S$304 billion) by 2030, these efforts aim to better position Singapore-based innovations to scale and enter new markets.
Over this two-year partnership, the parties will work towards the co-creation of new medtech ventures, investments into A*STAR affiliated companies, and fostering collaborations between A*STAR and ClavystBio's portfolio companies. By combining complementary strengths, from research and engineering to venture building and funding, the partnership aims to identify promising technologies, shape medtech projects for market readiness, and support new venture formation to strengthen Singapore's innovation-driven medtech ecosystem.
