The largest provider of biotech co-working lab and office space in Singapore, NSG BioLabs, has successfully closed a $14.5 million financing round.
NSG BioLabs said in a statement on Tuesday that the round was led by the Asian private equity firm Celadon Partners, with participation from ClavystBio, a life science investor and venture builder established by Temasek to expedite the commercialization of ground-breaking ideas to health impact.
In order to satisfy the expanding needs of biotech startups and international corporations in Singapore and Southeast Asia, NSG BioLabs plans to expand its facilities and improve its offerings.
In order to support the biotech industry by providing necessary resources like funding, expertise, and networks to advance startup research and development (R&D), NSG BioLabs has also announced its partnerships with Enterprise Singapore (EnterpriseSG), the Singapore government agency championing enterprise development, and Merck, a leading science and technology company.
According to NSG BioLabs, these accomplishments demonstrate the company’s resilience and proficiency in offering top-notch, expertly managed, and fully turnkey laboratory and office spaces that meet Biosafety Level 2 (BSL-2) certification requirements.
Additionally, the statement stated that these accomplishments highlight the company’s role as an ecosystem catalyst, offering networks and value-added services that are critical to advancing both business expansion and scientific advancement.
“NSG BioLabs is committed to supporting innovators and proud to have helped in Singapore’s growing biotech ecosystem,
“Our partnerships with EnterpriseSG and Merck signify the importance of a collaborative spirit, and we hope to spur greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia Pacific region,” said Daphne Teo, Chief Executive Offier and Founder of NSG BioLabs.
“We look forward to further empowering our residents in their innovation efforts through expanded facilities, enhanced value-add offerings, and greater exposure to valuable industry networking and mentorship experiences,” she added.
NSG BioLabs was established with the goal of fostering biotech innovation. To support life sciences companies, it provides cutting-edge equipment, effective operations, capital efficiency, team expertise, and global networks.
Situated in Singapore’s prestigious Biopolis, the environment is ideal for research and development, with 35,000 square feet of office space and a fully functional, certified BSL-2 laboratory.
