1. 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.
2. 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.
3. 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.”
4. The three start-ups are good examples of strong technology that can create a notable impact when commercialised. Clearbridge Biomedics’ proprietary technology, ClearCell™, which can accurately detect cancer cells in the blood, will enable clinicians to make more accurate diagnoses and potentially improve treatment paths for cancer, which the World Health Organisation estimates will exceed 13 million by 2030[1].
5. For the Singapore Institute of Advanced Medicine Holdings, its technology and services will enable researchers and clinicians to tailor health care to an individual’s unique biological profile. In particular, doctors can better choose the treatment for their patients with more certainty. SSC had invested in both Clearbridge Biomedics and the Singapore Institute of Advanced Medicine Holdings with CBSA.
6. The third start-up, Sano V, which SSC invested in with SMA, is developing a new treatment for erectile dysfunction (ED), estimated to affect more than 300 million men worldwide in the next ten years.[2] Conventional treatments involve either the use of drugs with notable side effects or the installation of invasive medical devices. However, Sano V’s stent-based technology helps increase blood flow to the affected area. This benefits, in particular, patients who do not respond well to drugs or prefer a less invasive option.
7. SSC will give an update on the progress of the projects and new investments made later in the year.
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[2]Kenia Pedrosa Nunes and R. Clinton Webb (2012). Mechanisms in Erectile Function and Dysfunction: An
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