27 May 2021 | News
Singapore-based Esco Lifesciences raises $200M in Series A funding led by Vivo Capital and Novo Holdings
Photo Credit: Freepik
Singapore-based Esco Lifesciences has announced the close of an over-subscribed $200 million Series A and Crossover round. The financing was led by Vivo Capital and Novo Holdings A/S, with participation from new investors including China Investment Corporation, Singapore-based global investor EDBI, a reputable, long-term institutional investor, and other sophisticated investors.
XQ Lin, Chairman and CEO of Esco Lifesciences, commented, "We are pleased to welcome these truly global top tier life sciences investors from the US, Europe, China and Singapore. This is a significant milestone for the Company as we embark on our Esco 3.0 transformation, which primarily involves strategic bolt-on M&A and expedited expansion in China, our priority market, to maintain the strong revenue growth we have achieved over the last decade. This financing will enable the creation of an innovation hub in Boston, focused on cell and gene therapy tools and technologies. We will increase our R&D and in-licensing efforts to develop and commercialise novel life science research tools in emerging domains, thus enabling fundamental scientific discoveries and, ultimately, the diagnostics and medicines of tomorrow."
Esco Lifesciences, a leading provider of life sciences tools and services, is poised to benefit from the sustained growth of the healthcare and biopharma industries in Asia and globally.
Esco has achieved leadership in China, and globally, in multiple product categories within some of the fastest-growing market segments with China being its largest and fastest-growing market.
As a Singapore-headquartered company, Esco is a nexus of East and West, bridging technologies, products, and talent across the world, with global operations spanning the US, Europe and Asia.