SINGAPORE - Medical device company Accuron MedTech Group officially opened a new $10 million technology centre in Singapore on Thursday (Sept 13).
Located in Tuas, the 22,000 square foot (sq ft) centre provides incubator facilities and business services for the companies in which Accuron MedTech invests, which are "highly-innovative, category-disrupting" technology firms that are complementary to its core urology business.
Accuron MedTech has done more than 10 strategic transactions in the last four years, including investments in renal companies AWAK Technologies and Advent Access, and Nasdaq-listed Aslan Pharmaceuticals. It is an independent division of Accuron Technologies, a subsidiary of Temasek Holdings.
AWAK Technologies is the first portfolio company to move its headquarters to the new centre. As a development stage company, it has access to the centre's clean room manufacturing and assembly facility to support its research, development, manufacturing and commercial activities. As more companies move to the technology centre, there is potential to expand the available space by 50 per cent, said Accuron MedTech in a media statement on Thursday.
The centre is located next to the global headquarters of AMT, Accuron MedTech's medical technology contract manufacturing business. Portfolio companies will be able to access AMT's 44,000 sq ft of advanced manufacturing capabilities such as rapid prototyping, turnkey manufacturing, clean-room manufacturing and assembly, 3D printing, and medical device sterilisation.
Portfolio companies can also tap commercialisation support in areas such as research and development, finance, human resources and business development, and have access to Accuron MedTech's senior management team.
Said Singapore Economic Development Board assistant managing director Beh Kian Teik: "The technology centre is an important undertaking that brings together the deep engineering and design capabilities of a large corporate such as Accuron MedTech, with the agility of startups to enable the development of new solutions for regional and global healthcare needs from Singapore."