SINGAPORE – CLA Real Estate Holdings, a wholly owned subsidiary of Temasek, has set up a new company called ClavystBio to invest in life science companies and develop an innovation district in Singapore.
Launched on Thursday, ClavystBio is led by chief executive Christopher Laing, who previously served as associate dean of innovation and entrepreneurship at Duke-NUS Medical School. It aims to support early-stage companies, starting with the emerging fields of cell and gene therapy, biomarkers and digital health.
ClavystBio has already made investment commitments of US$220 million (S$309 million) in six start-up companies and three venture capital partners. The companies are Allay Therapeutics, CoV Biotechnology, Engine Biosciences, Hummingbird Bioscience, Medisix Therapeutics and Sunbird Bio.
He has also made commitments to US-Singaporean investor Accelerator Life Science Partners, global venture capital firm Lightstone Ventures and US healthcare investor Polaris Partners.
Beyond investments, ClavystBio plans to develop a purpose-built innovation district with collaborative life science infrastructure and specialist facilities, as well as a community of academics, investors and start-ups.
In addition, it will create programs with private and public partners to develop industry and market expertise and stimulate the translation of intellectual property. The creation of ecosystems makes Singapore an attractive place to start and grow life science companies, Dr Laing said.
He added, “Our unique model brings funding, partnerships, and an optimal physical environment to life science companies, so they can accelerate their path to commercialization and help end-users or patients more quickly.” benefit.
ClavystBio’s Board of Directors is chaired by Dr. Fidah Alsagoff, co-head of the Singapore business development group and head of life sciences at Temasek.
“As a long-term investor in life sciences, Temasek is committed to deploying patient capital to catalyze innovative solutions that will improve the well-being of current and future generations,” said Dr. Alsagoff. , adding that ClavystBio is well positioned to create a sustainable pipeline of investment opportunities.
The life sciences sector currently employs 25,000 people and contributes about a fifth of Singapore’s manufacturing gross domestic product, ClavystBio noted. BUSINESS TIMES