The Agency for Science, Technology and Research (A*STAR) and US bioplatform innovation company Flagship Pioneering will jointly commit up to $100 million ($129.41 million) over the next five years to spur biotech innovation in Singapore and the Asia Pacific.
Flagship is best known for its role in backing Moderna, which created a widely-used Covid-19 vaccine.
According to an Oct 3 announcement, the two parties signed a memorandum of understanding (MOU) on Oct 1 outlining the goals of their collaboration.
The collaboration will promote research and development activities between A*STAR research institutes and Flagship portfolio companies to co-develop technologies in “strategically important areas”, say the two parties.
Talent development is another pillar of the collaboration, with potential scientific dialogues and internship opportunities at Flagship and its portfolio companies.
The partnership follows Flagship’s expansion into the Asia-Pacific region last year, with the opening of a regional hub in Singapore in November 2023.
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By joining forces, Flagship and A*STAR can “further boost” the “already thriving” life sciences ecosystem in Singapore and beyond, says André Andonian, chair of Asia Pacific and strategic adviser, Flagship Pioneering.
“This collaboration blends scientific acumen and entrepreneurial spirit and will further accelerate and expand Flagship’s impact globally. We are pleased to announce this collaboration with A*STAR within the first year of opening our new Asia Pacific hub, located in Singapore,” says Andonian, who was appointed last year.
“We are excited to be working with globally recognised venture builders like Flagship Pioneering to bring new companies with cutting-edge technologies in areas of strategic interest to Singapore,” says Irene Cheong, assistant chief executive at A*STAR’s innovation and enterprise group. “This collaboration is a key step in nurturing our entrepreneurial talent and exploring new, innovative approaches to venture building. As we continue to expand these partnerships, we are confident that they will drive significant growth in Singapore’s innovation landscape and advance Singapore’s position as a global hub for biotechnological innovations.”
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Since its launch in 2000, Flagship has originated and fostered more than 100 scientific ventures, which it claims resulted in more than US$75 billion in aggregate value.
Flagship says it has deployed over US$3.8 billion in capital toward the founding and growth of its pioneering companies to date, alongside more than US$27 billion of follow-on investments from other institutions.
The current Flagship ecosystem comprises 40 companies, including the Nasdaq-listed firms Foghorn Therapeutics, Moderna, Omega Therapeutics and Sana Biotechnology.
