SINGAPORE - CLA Real Estate Holdings, a wholly owned subsidiary of Temasek, has established a new company called ClavystBio to invest in life sciences companies and develop an innovation district in Singapore.
Launched on Thursday, ClavystBio is led by chief executive officer Christopher Laing, who was previously vice-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 US$220 million (S$309 million) in investment commitments to six early-stage companies and three venture partners. The companies are Allay Therapeutics, CoV Biotechnology, Engine Biosciences, Hummingbird Bioscience, Medisix Therapeutics and Sunbird Bio.
It also made commitments to US- and Singapore-based investor Accelerator Life Science Partners, global venture firm Lightstone Ventures and US healthcare investor Polaris Partners.
Beyond investments, ClavystBio plans to develop a purpose-built innovation district with collaborative life sciences infrastructure and specialised facilities, together with a community of academics, investors and start-ups.
In addition, it will create programmes with private and public partners to develop industry and market expertise and drive intellectual property translation. Ecosystem-building makes Singapore an attractive location for life sciences companies to start and grow, said Dr Laing.
He added: "Our unique model brings funding, partnerships and an optimal physical environment to life sciences companies, so that they can accelerate their pathway to commercialisation and help benefit end-users or patients more quickly."
ClavystBio's board is chaired by Dr Fidah Alsagoff, joint head of the Singapore enterprise development group and head of life sciences at Temasek.
"As a long-term investor in the life sciences field, Temasek is committed to deploying patient capital to catalyse 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 investable opportunities.
The life sciences sector currently employs 25,000 workers and contributes to about a fifth of Singapore's manufacturing gross domestic product, ClavystBio noted. THE BUSINESS TIMES