3 medtech start-ups get $3m SPRING investment

3 medtech start-ups get $3m SPRING investment

SINGAPORE - Three local medical technology start-ups have received a total of $3 million in investments made under the $40 million Biomedical Sciences Accelerator (BSA) programme by SPRING SEEDS Capital (SSC), a wholly-owned subsidiary of SPRING Singapore.

The three start-ups are Clearbridge Biomedics, Singapore Institute of Advanced Medicine Holdings, and Sano V.

Clearbridge Biomedics is known for its proprietary technology, ClearCell™, which can accurately detect cancer cells in the blood, and will enable more accurate diagnoses and potentially improve treatment paths for cancer.

Singapore Institute of Advanced Medicine Holdings offers technology and services which enable tailored health care according to an individual's unique biological profile.

SSC is co-investing in both of these start-ups with Clearbridge BSA Pte Ltd (CBSA).

Sano V, which SSC invested in with Singapore Medtech Accelerator (SMA), is developing a new treatment for erectile dysfunction (ED) with stent-based technology, which helps increase blood flow to the affected area. 

Here is the press release from SPRING Singapore:

SPRING SEEDS Capital Pte Ltd (SSC), a wholly-owned subsidiary of SPRING Singapore, has invested in three promising start-ups - Clearbridge Biomedics, Singapore Institute of Advanced Medicine Holdings, and Sano V. The investments, which total $3 million, are the first to be made under the $40 million Biomedical Sciences Accelerator (BSA) programme that SSC is managing.

As part of the Research, Innovation and Enterprise 2015 plan, the government launched the BSA programme in May 2011 to encourage the formation and growth of medical technology start-ups. SSC appointed two accelerators in May 2012 to identify and co-invest in high-potential medtech start-ups. The accelerators, Clearbridge BSA Pte Ltd (CBSA) and Singapore Medtech Accelerator (SMA), were among nine proposals received. They were selected based on their track record in successfully incubating start-ups in the early stages. Besides co-investing, the accelerators also take a hands-on approach to help the start-ups build up their management teams, meet regulatory requirements and connect with potential customers.

Ms Chew Mok Lee, Chief Executive of SSC and Assistant Chief Executive of SPRING Singapore, said, "The biomedical sciences sector is a knowledge and capital-intensive industry. Medical technology start-ups take a longer time to commercialise their research, and by supporting this nascent but important sector through the BSA programme, we can encourage more innovative ideas and technologies to reach the market. Asia is expected to account for more than one-fifth of global healthcare spending, which will lead to an increase in demand for medtech products and services."

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