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Biomedical Sciences Companies Expanding in Asia Invested More Than US$500 Million in Singapore
Date:5/18/2009

clinical development.

In addition, companies are leveraging Singapore's central location for the oversight and coordination of multi-centre, regional clinical trials. Takeda announced its US$3 million regional clinical coordination centre, while Quintiles doubled the size of its regional headquarters to an 80,000 square- foot facility, which will house its Central Laboratory and Clinical Development Services offices.

Commercialising Homegrown Innovation

On the home front, Singapore's biotech and research institutes successfully concluded significant licensing agreements with international partners.

S*BIO, for example, is entitled to receive more than US$600 million in payment under two licensing agreements with Onyx and Tragara to develop oncology drugs. S*BIO's agreement with Onyx will include the development of SB1518, a JAK2 inhibitor that received orphan drug designation from the U.S. Food and Drug Administration (FDA) in 2008.

The Institute of Materials Research and Engineering (IMRE) has attracted investment from Sumitomo Corporation Asia and will be spun-off as Micropoint Technologies to produce plastic microneedles, for painless injections and extraction of bodily fluids, which can be mass produced.

The Institute of Bioengineering and Nanotechnology (IBN) has also announced licensing deals for its products:

    -- Micro-Kit, an all-in-one device that allows for rapid, easy, affordable
       tests for cancer, avian flu and other infectious diseases, licensed to
       Dyamed Biotech
    -- Virtual Reaction Chamber, affordable micro fluidics real time PCR
       machine, licensed to MP Biomedicals under agreement with Exploit
       Technologies

Singapore Draws High Value-Added, Complex Manufacturing

Asia's growth is not limited to its market opportunities. In recognition of Asia's scientific excellence and c
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SOURCE Singapore Economic Development Board (EDB)
Copyright©2009 PR Newswire.
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