NSG BioLabs, a provider of biotech co-working laboratory and office space in Singapore, has announced completing a US$14.5 million financing round led by Asian private equity firm Celadon Partners.
ClavystBio, a life science investor and venture builder set up by Temasek, also participated in the round.
With the new capital, NSG BioLabs intends to enhance its products and services and introduce additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia.
Also Read: How NSG BioLabs aims to nurture biotech innovation in Singapore and beyond
In addition, NSG BioLabs has secured partnerships with government agency Enterprise Singapore and science and technology company Merck to bolster the biotech landscape by providing funding, expertise and networks to advance startup R&D. It has been part of EnterpriseSG’s Startup SG Accelerator since 2019.
Started in 2019, NSG BioLabs develops solutions in the health, biomedical, agrifood, and industrial biotechnology sectors, working in precision medicine, nucleic acids, AI-enabled drug discovery, and synthetic biology.
The co-working space firm provides biotech startups and multinational companies private and shared laboratory spaces, offices, equipment, privileged access to service providers and suppliers, and community engagement.
NSG BioLabs currently houses over 40 innovative companies in its co-working biotech laboratory in Singapore. The residents include several multi-billion-dollar multinationals and promising startups that have achieved key milestones.
In partnership with EnterpriseSG, NSG BioLabs will invest in and nurture more high-potential biotech startups, in particular, expanding support for those with promising innovations in fields such as precision medicine, with the aim of fast-tracking the development and commercialisation of such deep tech solutions.
Also Read: Farquhar, Korea’s S&S Lab collaborate to support biotech, foodtech startups
After its first site opening in November 2019, NSG BioLabs expanded with its second site in August 2021 and recently 2023 with its third site. Now, it has three sites totalling 35,000 square feet.
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