Heaptalk, Jakarta — Singapore’s health tech startup NSG BioLabs completed new funds of US$14.5 million, led by Celadon Partners and ClavystBio. With this latest injection, the startup intends to elevate its products and services and introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.
“ClavystBio is excited to foster the growth of Singapore’s life science ecosystem by supporting NSG BioLabs and its resident startups. This investment reinforces ClavystBio’s mission to expedite breakthrough science into health impact through venture building,” CEO of ClavystBio, Khoo Shih, said.
Since 2019, this biotech co-working laboratory startup has assisted innovators in creating impactful solutions in the health, biomedical, agrifood, and industrial biotechnology sectors. Its work includes precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology. With the most significant co-working biotech laboratory and office footprint in Singapore, NSG BioLabs has assisted over 40 companies as residents.
The company’s residents include several multi-billion-dollar multinationals and many promising startups that have achieved key milestones. The startup residents alone have raised nearly US$400 million in funding and supported hundreds of jobs.
To boost its offerings to residents, NSG BioLabs also partners with Singapore’s government agency Enterprise Singapore (EnterpriseSG) and 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).
“Our collaboration with EnterpriseSG and Merck signify the importance of a collaborative spirit, and we hope to spur greater affiliation among other stakeholders to benefit the biotech industry in Singapore and the Asia Pacific region,” CEO and Founder of NSG BioLabs, Daphne Teo, affirmed.
Since its inception, NSG BioLabs has supported biotech startups and multinational companies by providing BSL-2 certified private and shared laboratory spaces and offices, equipment, privileged access with service providers and suppliers, and community engagement. Following its initial site opening in November 2109, the startup expanded its second and third sites in three years, reaching 35,000 square feet spread over three locations.
“As the Southeast Asia biotech industry faces 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,” Managing Partner at Celadon Partners, Donald Tang, concluded.
