Nanostart
has increased its stake in Curiox Biosystems Pte Ltd, Singapore, to almost 19
percent by a follow-up investment through its Nanostart Singapore Early Stage
Venture Fund I. The investment is part of a second financing round, in which
several experienced life science investors as well as a corporate investor joined
as new investors in Curiox. Nanostart remains the lead investor. This is also
the first investment of Nanostart's recently closed Nanostart Singapore Early
Stage Venture Fund.
The funds shall help Curiox to tackle the therapeutics screening market for
pharmaceutical and biotech firms. Having successfully established its semi-automated
product, the DropArray™ LT, with numerous customers from universities
and government research laboratories in Singapore, the company now aims to introduce
this new product line to the market and also to expand internationally, in particular
to the USA and Europe. The DropArray™ HT targets primarily big pharma
and biotech companies and major research labs which require a significant level
of automation, whereas the DropArray™ LT serves as a semi-automated solution
for smaller research labs.
Referring to the expansion plans, Namyong Kim, CEO of Curiox, says: „We
are happy about the continuing support from our existing investors and the expanded
investors base. We will use the funds to expand our product line and gain the
first customers overseas. We expect to close deals with major customers very
soon.“
Andreas Kröll, Managing Director of Nanostart Asia and Nanostart's representative
on Curiox' board, comments: „The strong investor interest underlines the
huge potential of the company's products. After the financing, we will hold
almost 19% in the company, which represents a great asset for Nanostart AG and
its shareholders"