holding Curiox Biosystems Pte Ltd recently became the first Asian start-up company
ever to be featured at LabAutomation's prestigious Innovation AveNEW,
an award program serving to highlight the industry's most innovative emerging
laboratory technologies. Curiox was presented as one of eight elite start-ups,
chosen from a pool of worldwide participants, at the Innovation AveNEW booth
from January 25th to 27th.
LabAutomation is a premier industry event, known to be the world's largest
conference and exhibition focused on laboratory products and technologies in
Life Sciences. The international recognition received at LabAutomation2010 is
a great achievement for young start-up Curiox, which was selected by a panel
of international industry experts from the Association for Laboratory Automation
(ALA). Only a select few start-up companies are chosen for the Innovation AveNEW
program each year.
The annual Innovation AveNEW program is currently in its fourth year, and serves
to afford emerging, start-up companies the opportunity to actively engage and
participate in a world-class event with more than 4.000 purchasing influencers
and decision-makers of the laboratory automation from more than 40 countries.
In October 2009, Nanostart had increased its stake in Curiox Biosystems Pte
Ltd, to almost 19% by a follow-up investment through its Nanostart Singapore
Early Stage Venture Fund I. The investment was 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. The
funds help Curiox to tackle the therapeutics screening market for pharmaceutical
and biotech firms. Having successfully established its semi-automated product,
the DropArray LT, with customers from universities and government research
laboratories in Singapore, the company is now introducing a new product line
to the market and is expanding internationally, in particular to the USA and
Europe. Curiox shall be maximizing the exposure received at LabAutomation2010
by highlighting its latest product, the DropArray Accelerator HT200,
at the event. Presently, DropArray HT200 is being assessed by key market
leaders in biotech and pharma.
"Curiox has managed to secure international and local excitement, with
its revolutionary DropArray technology, in less than 2 years. This represents
a significant milestone for Singapore, and is proof that Singapore-based biotech
companies are able to compete on a global scale. This early achievement for
Curiox was possible due to the ecosystem provided by Exploit Technologies and
NUS Enterprise; as well as, the network and financial support offered by Nanostart
Asia," says Curiox's CEO, Dr Namyong Kim.
For now, Curiox's strategy is to establish itself in the research and
screening markets with the DropArray HT200. Eventually, Curiox hopes
to venture into the diagnostic and point-of-care markets, with its platform