ClavystBio, a life sciences investor backed by Temasek, has partnered with Singapore’s Agency for Science, Technology and Research (A*STAR) to co-develop and commercialise MedTech innovations through a newly signed Memorandum of Understanding.
The two-year agreement seeks to create and scale medical technology ventures by combining ClavystBio’s investment and venture-building capabilities with ASTAR’s research and engineering platforms.
The collaboration will leverage national initiatives hosted by ASTAR, including the MedTech Catapult and Diagnostics Development Hub (DxD Hub), to support product development and commercial readiness.
Singapore’s MedTech output reached S$20 billion in 2023, and the broader Asian MedTech market is expected to hit US$225 billion by 2030.
The partnership aims to position Singapore-based startups to capture opportunities in this expanding sector.
Under the agreement, ClavystBio and ASTAR will co-create new companies based on promising scientific research.
ASTAR will offer technical expertise and venture incubation, while ClavystBio will contribute capital, business guidance, and industry networks to help early-stage firms navigate product development and go-to-market strategies.
The MedTech Catapult will provide support in areas such as device design, prototyping, and manufacturing, while DxD Hub will focus on accelerating diagnostics and digital health solutions, including those based on AI and multi-omics technologies.
The partners will also map Singapore’s MedTech value chain to identify opportunities for investment and capability building in manufacturing, regulatory support, and design.
The initiative is intended to foster a stronger pipeline of globally competitive MedTech companies and reinforce Singapore’s position as a regional innovation hub.
The collaboration builds on earlier joint efforts between the two organisations and reflects a broader national push to commercialise deep tech and biomedical research through structured public-private partnerships.
Business News Asia
