HOME ABOUT CONTACT AVAILABLE ISSUES SUBSCRIBE MEDIA & ADS
LATEST UPDATES » Vol 22, No 06, June 2018 – Cancer - Therapies and strategies for better patient outcomes       » Gardasil 9 supply running short in Hong Kong       » China helps Tajikistan tackle grassland degradation       » Immuno-oncology trials in China surge more than 50 per cent       » Yeast for industrial biotechnology       » Uncontrolled hypertension in rural communities      
INSIDE INDUSTRY
AITbiotech initiates and sets up a new division to commercialize life sciences and diagnostic technologies in Singapore

AITbiotech, a leading Asian Molecular Diagnostic (MDx) assay manufacturer and Genomic Services provider based in Singapore will invest close to S$5.0 million in commercialising life sciences and diagnostic technologies for the next 3 years. It has set up a new business division, AITventures, to manage this new strategic direction.

AITventures has secured a grant of approximately S$3.0 million from SPRING Singapore; a government agency in Singapore that promotes business development and Singapore enterprises. The grant was awarded under SPRING's Private Sector Translator Scheme (PST). AITbiotech will invest about S$2 million in addition to the grant from SPRING Singapore.

AITventures will be sourcing for promising life sciences and diagnostic technologies from Singapore as well as global private and public institutions to be licensed for commercialization out of Singapore. It will focus on diagnostic technologies that have comparative advantage in Asian developing markets. Start-ups funded and seeded by AITventures will be able to secure further competitive grants as well as investment funding from Singapore agencies.

Nurturing and assisting local healthcare SMEs and startups will be another central role for AITventures. Building on in-house capabilities and a global network of consultants, AITventures will be able to provide commercialization services to public institutions as well as start-ups in the areas of diagnostic technologies commercialization including prototyping, clinical trials, product and process development, manufacturing and regulatory compliance.

AITbiotech CEO Alex Thian said, "Moving into commercialization services and incubation is a natural expansion for AITbiotech. AITbiotech fills a market need in Asia where investment experience and commercialization expertise are lacking. We are also confident of success as AITbiotech has a very experience team as well as a business network in Asia to ensure medtech start-ups including incubatees' products and services reach markets quickly. With the grant from SPRING Singapore we will be able to build a more experience team and expand faster."

In Jan 2014, AITventures seeded the first start-up; Phoenix Molecular, which is developing a disposable DNA amplification card and handheld reader. Eric Wilkinson, CEO of Phoenix Molecular said, "We are very pleased to become a part of the growth and development of the biotech sector in Singapore. We are particularly grateful to AITbiotech for their support and incubation of our venture. Financial support is only one piece of the success of a startup biotech company. Equally important is the experience and expertise of our partners. AITbiotech provides both."

Click here for the complete issue.

NEWS CRUNCH  
news Shire, Microsoft and EURORDIS form Global Commission to accelerate time to diagnosis for children with rare diseases
news EmTech Asia explores future of life, humanity and economy
news Biology of Ageing II - Impactful Interventions
PR NEWSWIRE  
Asia Pacific Biotech News
EDITORS' CHOICE  
COLUMNS  
Click here to receive APBN e-newsletters once a month!

APBN Editorial Calendar 2018
January:
Obesity / Outlook for 2018
February:
Searching for the fountain of youth
March:
Women in Science - Making a difference
April:
Digestive health in the 21st century - Trust your guts
May:
Dental health - The root to good health
June:
Cancer - Therapies and strategies for better patient outcomes
July:
Water management / Vaccination
August:
Regenerative medicine / Biotech start ups
September:
Digital healthcare / 3D printing
October:
Bones / Breast cancer
November:
Liver health / Top science research nations & institutions
December:
AIDS / Breakthrough of the year/Emerging trends
Editorial calendar is subjected to changes.
MAGAZINE TAGS
About Us
Events
Available issues
Editorial Board
Letters to Editor
Instructions to Authors
Advertise with Us
CONTACT
World Scientific Publishing Co. Pte. Ltd.
5 Toh Tuck Link, Singapore 596224
Tel: 65-6466-5775
Fax: 65-6467-7667
» For Editorial Enquiries:
   biotech_edit@wspc.com or Ms Lim Guan Yu
» For Subscriptions, Advertisements &
   Media Partnerships Enquiries:
   biotech_ad@wspc.com
Copyright© 2018 World Scientific Publishing Co Pte Ltd  •  Privacy Policy