Friday, 24 May 2024

Acrometa enhances co-working lab space operations for life sciences in Singapore

09 October 2023 | News

Acrometa's Life Science Incubator signs agreement with Ho Bee Land subsidiary to operate co-working laboratory

Image credit: freepik

Image credit: freepik

Acrometa Group has announced that its 70% owned subsidiary company Life Science Incubator (LSI) has entered into a Management Agreement (the MA) with HB Universal Pte Ltd, a subsidiary of Mainboard-listed Ho Bee Land Limited.

The MA engages LSI to operate and manage a co-working laboratory centre at Elementum, One-North, a building in the heart of Singapore’s biomedical industry district. The MA is for an initial period of six years with an option to renew the MA for a further six years by mutual agreement.

The MA engages LSI to operate, manage, promote and market the co-working laboratory centre; and to provide management and consultancy services for the business. The proposed project will triple the size of LSI’s co-working laboratory space operations in Singapore. With the expanded space, the operations at Elementum will be able to attract companies that require larger Research and Development (R&D) space, as well as enable existing LSI customers who want to expand their R&D activities to do so.

The MA follows on the heels of LSI’s recent expansion of its co-working lab space business. 

Levin Lee Keng Weng, Acrometa's Executive Chairman, commented, “Biomedical sciences is an integral part of Singapore’s future economy with its focus on high value-add industries. Co-working laboratory spaces allows SMEs and startups to kickstart their R&D without incurring initial high CAPEX. There is a rising number of SMEs and startups needing co-working laboratory spaces with specialised infrastructure to conduct their R&D to bring their innovative products to the market. That is where LSI comes in.”


Sign up for the editor pick and get articles like this delivered right to your inbox.

Editors Pick
+Country Code-Phone Number(xxx-xxxxxxx)


× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account