SINGAPORE - Temasek-owned Accuron MedTech will invest US$11.2 million (S$15.9 million) into medtech start-up Awak Technologies, which is developing solutions for end-stage renal disease.
The funds will support the commercialisation of Awak's sorbent regenerative technology that aims to improve dialysis treatment options for patients suffering from kidney failure.
Accuron MedTech joins existing shareholders of Awak like Baxter Healthcare and TP Innovation Holdings, the company said in a release on Thursday.
Awak's sorbent technology regenerates and reconstitutes used dialysis fluid into fresh fluid, which means more efficient dialysis with up to 90 per cent less dialysis fluid compared to conventional dialysis machines.
The techonology has the potential make an impact by reducing costs and complexity of the procedure, while increasing miniaturisation and portability of dialysis machines.
"Awak Technologies is our first step in diversifying into the wider kidney disease market," said Mr Abel Ang, group chief executive office of Accuron MedTech, a division of Accuron Technologies. "We look forward to partnering with Awak Technologies' board and management in bringing its products to market."
Accuron Technologies is a precision engineering and technology group that is wholly-owned by Temasek Holdings. For its division Accuron MedTech, this is the seventh medtech investment/divestment transaction in the last three years.