Singapore-based Nanostart 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 DropArray technology.