Aptorum Group Limited, Aeneas Capital Limited, and A*ccelerate Technologies Pte Ltd, the enterprise office of the Agency for Science, Technology and Research, A*STAR, have signed a USD$90 million agreement to co-create local deep tech start-ups in the healthcare and life sciences sector. This agreement, is the latest in a series of venture co-creation, VCC, agreements signed by A*ccelerate to strengthen the start-up ecosystem in Singapore.

Through this agreement, Aptorum Group and A*ccelerate are looking at creating up to 20 deep tech ventures in Singapore over the next five years. These enterprises will leverage technologies co-developed by A*STAR research institutes and Aptorum Group. As part of this agreement, the parties involved will also support the start-ups’ growth through actively nurturing the entrepreneurs. This will be done by connecting them to the relevant market partners, and clients, using Aptorum Group’s worldwide network.

The key focus area in this initiative would be the healthcare and life sciences sector. One of the areas both parties are looking into is the translation of A*STAR’s capabilities in medical image analytics and augmented reality, into real-time 2D and 3D magnetic resonance imaging, MRI, surgical imaging solutions for applications in the field of surgical robotics. This solution would empower healthcare providers in Singapore, the region and globally with more accurate imaging of their patients.

Aptorum Group and Aeneas Capital will also be launching an up to USD$200 million healthcare and life science strategic investment fund. This fund could be used to invest into the local biotech ecosystem, and bring about greater vibrancy to the Singapore economy. Aptorum Group and Aeneas Capital will also make acquisitions in identified technologies and businesses globally.

“This agreement is testament to the vibrancy of Singapore’s biotech ecosystem, as well as the private sector’s confidence in A*STAR’s capabilities in deep tech and biomedical research,” Philip Lim, the CEO of A*ccelerate, said. “Aptorum Group’s focus on creating value in diagnostics, surgical robotics and therapeutics through technological innovation makes them an ideal partner for us. We look forward to co-creating local start-ups that will push the boundaries of healthcare innovation and strengthen Singapore’s future economy.”

Ian Huen, the founder and CEO of Aptorum Group and Founder of Aeneas Capital commented: “Aptorum’s vision is to advance the quality of human life and patient care by facilitating the development of medical and life science innovations. Our collaboration with A*STAR A*ccelerate as Venture Co-Creation partner is very exciting, allowing us to access and develop the excellent expertise and technological ecosystems in Singapore through a strong partner such as A*STAR and to strengthen the links between research, innovation and enterprise. We strongly believe that the partnership will undoubtedly yield a number of strong venture businesses that will be eventually recognised worldwide and further catapult Singapore as a core global player for technological advancements and commercialisation hub.”

– Apr. 24, 2019 @ 02:00 GMT |