Latest news with #AnselmTan
Korea Herald
2 days ago
- Business
- Korea Herald
ClavystBio and A*STAR Partner to Grow MedTech Ventures in Singapore
SINGAPORE, June 10, 2025 /PRNewswire/ -- ClavystBio, a life sciences investor and venture builder established by Temasek, and the Agency for Science, Technology and Research (A*STAR), Singapore's lead public sector R&D agency, have signed a Memorandum of Understanding (MoU) to create and grow MedTech ventures in Singapore. This partnership will support venture creation, product development, and commercialisation by bringing together ClavystBio and two national initiatives hosted by A*STAR — MedTech Catapult and the Diagnostics Development Hub (DxD Hub) — along with A*STAR's broader MedTech and venture creation capabilities. The partnership comes amid growing momentum in Singapore's biomedical landscape, with MedTech output reaching S$20 billion in 2023. [1] As Asia's MedTech market is projected to grow to US$225 billion (S$304 billion) by 2030, [2] these efforts aim to better position Singapore-based innovations to scale and enter new markets. Over this two-year partnership, the parties will work towards the co-creation of new MedTech ventures, investments into A*STAR affiliated companies, and fostering collaborations between A*STAR and ClavystBio's portfolio companies. By combining complementary strengths — from research and engineering to venture building and funding — the partnership aims to identify promising technologies, shape MedTech projects for market readiness, and support new venture formation to strengthen Singapore's innovation-driven MedTech ecosystem. The partnership will focus on several key areas: "This partnership highlights ClavystBio's commitment to nurturing globally successful medical devices, digital health, and diagnostics companies from Singapore," said Mr Anselm Tan, Digital Health & MedTech Lead at ClavystBio. "By combining ClavystBio's investment and venture-building expertise with A*STAR's deep scientific capabilities and productisation platforms, we are cultivating an ecosystem primed for innovation and commercial success. "A*STAR is committed to nurturing a dynamic MedTech ecosystem that bridges innovation with deep tech companies," said Ms Irene Cheong, Assistant Chief Executive (Innovation & Enterprise) at A*STAR. "This MoU builds on an existing collaboration with ClavystBio and marks a significant step forward in our joint efforts to co-create and grow globally investible MedTech ventures. Through national productisation platforms like MedTech Catapult and DxD Hub, combined with A*STAR's venture creation capabilities, we aim to commercialise more innovations from lab to market and grow a vibrant MedTech ecosystem in Singapore." About ClavystBio ClavystBio is a life sciences investor and venture builder set up by Temasek to accelerate the commercialization of breakthrough ideas into health impact. We invest and partner with founders and entrepreneurs to launch and grow global companies from Singapore. Our focus spans therapeutics, digital health and medtech, with an emphasis on first-in-class science and technology. Our collaborative space, Node 1, provides plug-and-play spaces for ventures that have graduated from incubators to progress to their next milestones. By bringing start-ups together, we foster a vibrant and supportive community. About the Agency for Science, Technology and Research (A*STAR) The Agency for Science, Technology and Research (A*STAR) is Singapore's lead public sector R&D agency. Through open innovation, we collaborate with our partners in both the public and private sectors to benefit the economy and society. As a Science and Technology Organisation, A*STAR bridges the gap between academia and industry. Our research creates economic growth and jobs for Singapore, and enhances lives by improving societal outcomes in healthcare, urban living, and sustainability. A*STAR plays a key role in nurturing scientific talent and leaders for the wider research community and industry. A*STAR's R&D activities span biomedical sciences to physical sciences and engineering, with research entities primarily located in Biopolis and Fusionopolis. For ongoing news, visit About Diagnostics Development Hub (DxD Hub) The Diagnostics Development Hub is a national platform hosted by the Agency for Science, Technology and Research (A*STAR). DxD Hub aims to accelerate the transformation of innovations into clinically validated diagnostic devices that are ready for market adoption. Through impactful products, empowering local enterprises and anchoring global companies in Singapore, DxD Hub contributes to the development of an effective diagnostic devices' ecosystem in Singapore. For ongoing news, visit About MedTech Catapult MedTech Catapult (MC) is a national initiative designed to accelerate the product development and commercialisation of high-value life science instruments and regulated medical devices. MC partners with product owners, local contract manufacturers (CMs), and leverages external design houses, and other key stakeholders to guide innovations from concept to market. Their goal is to strengthen Singapore's medtech ecosystem by providing dedicated engineering, quality assurance, regulatory affairs, clinical affairs, project management and commercialisation support to derisk and support products towards commercialisation and market adoption whilst supporting pull-through to local manufacturing.
Yahoo
7 days ago
- Business
- Yahoo
Allay Therapeutics Announces $57.5M Series D Financing and Venture Debt Line to Advance ATX101 and its Ultra-Sustained Pain Platform for Post-Surgical Pain Management
Series D led by Lightstone Ventures and ClavystBio, supported by leading global syndicate of new and existing investors; Additional venture debt funding led by HSBC Funds to advance ATX101 Phase 2b registration trial of post-surgical pain management in total knee replacement patients, data anticipated in Q4 2025 Joe Zakrzewski joins as Chairman of Allay Board of Directors Maruishi Pharmaceutical, Allay's partner in Japan, expands license territory to S. Korea and Taiwan SAN JOSE, Calif., June 05, 2025--(BUSINESS WIRE)--Allay Therapeutics, a clinical-stage biotechnology company pioneering ultra-sustained analgesic products to transform post-surgical pain management and recuperation, today announced the completion of a $57.5M Series D financing round with leading global investors. Lightstone Ventures and ClavystBio co-led the Series D financing with participation by existing investors NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures Healthcare, and Brandon Capital. New investors joining the round were IPD Capital, EDBI and SGInnovate, and HSBC Innovation Banking also provided additional venture debt financing to the Company. Allay also announced that Joe Zakrzewski, an experienced pharmaceutical executive, has been appointed Chairman of the Board of Directors, and Anselm Tan of ClavystBio will also join Allay's board, associated with the financing. Allay Therapeutics' Japanese partner Maruishi Pharmaceutical has expanded the territory of its license agreement to include South Korea and Taiwan, in addition to Japan. As part of the amendment to the license, Maruishi has also made an additional investment in Allay as part of the Series D financing. Maruishi is currently conducting a Phase I/II multi-center open-label safety study of ATX101 in Japan. Proceeds from the financing supports the Company's Phase 2b registration trial evaluating ATX101 for the treatment of post-surgical pain following total knee replacement (TKA) surgery and advances Allay's ultra-sustained platform of products for other unmet needs after painful surgeries. ATX101 is a novel investigational analgesic designed to provide extended pain relief after surgery, reducing the need for opioids and improving patient recovery. "Lightstone Ventures is pleased to be joined by a strong syndicate of biotechnology and medical device investors in the U.S. and Asia to support Allay with this fundraise to advance the Company's platform of products into pivotal clinical development. The Company is enrolling its Phase 2b registration trial ATX101 in the US for TKA surgeries and are expecting early completion of this trial in the coming months," stated Mike Carusi, Managing Partner at Lightstone Ventures. "It is rewarding to see Allay, which Lightstone Singapore helped to incubate alongside our partners at the Foundry, continue to grow and prosper." "With our recent breakthrough therapy designation (BTD) by FDA and constructive Type B meeting discussions held in March 2025, we have a clear roadmap to complete the ATX101 development program in TKA and are looking at additional indications and unmet needs in orthopedics, plastic surgery, anesthesiology and other soft tissue surgeries," stated Adam Gridley, President & CEO of Allay Therapeutics. "We believe the ATX platform of products driven by our teams in Singapore and the U.S. can help improve patient outcomes, reduce opioid use and improve function more rapidly than currently available therapies." "We are proud to support Allay as they advance best-in-class non-opioid solutions for patients suffering from pain and poor recovery outcomes after surgery. Allay exemplifies ClavystBio's mission to accelerate life sciences technologies from Singapore to the world," said Anselm Tan, Digital Health & MedTech Lead, ClavystBio. "ATX101 is one of several offerings in a pipeline driven by Singapore's R&D excellence, a strong collaboration among international teams, and a global syndicate of investors." Allay's Phase 2b registration trial of 200 participants undergoing total knee arthroplasty (replacement, or TKA surgery) is being conducted at multiple U.S. sites. The trial was initiated in February 2025 and is a three-arm, randomized, controlled study evaluating treatment with ATX101 1,500 mg versus placebo and a bupivacaine active comparator. A prior dose-ranging Phase 2b trial achieved clinically meaningful durable treatment effects with ATX101 versus standard-of-care bupivacaine based on pain intensity out to four weeks, with less use of opioids and meaningful improvement in functional activities up to 60 days following surgery. Based on those prior results, Allay's ATX101 product has received Breakthrough Therapy designation from the FDA. Results from the registration trial will be available in the fourth quarter of 2025 and a Phase 3 trial is planned for 2026. About Joe Zakrzewski:Mr. Zakrzewski has over 30 years of leadership experience in the biotechnology and pharmaceutical industry and has founded a number of biotechnology companies and been an inventor on numerous patents. He currently serves on the Board of Directors of multiple public & privately held companies. During his operating career he was Chairman and CEO of Amarin Pharmaceuticals, a Venture Partner with Orbimed, Chairman, President & Chief Executive Officer of Xcellerex, a privately held company sold to GE Healthcare, and COO of Reliant Pharmaceuticals, a privately held company sold to GSK plc. Prior to this, Mr. Zakrzewski served in various executive roles including global leadership for Business Development at Eli Lilly & Company. He received a BS in Chemical Engineering and an MS in Biochemical Engineering from Drexel University, and an MBA in Finance from Indiana University. About Lightstone VenturesLightstone Ventures is a global venture capital firm investing in biotech and medtech companies pioneering big ideas poised to transform patient outcomes. We were founded in 2012 to empower visionary entrepreneurs with the resources and operational guidance necessary to bring their innovative therapeutics and technologies to the patients who need them most. Our investment team has led deals resulting in 19 acquisitions and 20 initial public offerings over the last two decades. The firm has offices in Boston, Mass., Portola Valley, Calif., and Dublin, Ireland. For more information, please visit About ClavystBioClavystBio is a life sciences investor and venture builder established by Temasek to accelerate the commercialization of breakthrough ideas into health impact. We invest and partner with innovators, entrepreneurs and founders to launch and grow global companies from Singapore. Our focus spans therapeutics, digital health and medtech, with an emphasis on first-in-class science and technology. Our collaborative space, Node 1, provides plug-and-play spaces for ventures that have graduated from incubators to progress to their next milestones. By bringing startups together, we foster a vibrant and supportive community. Since our inception in 2022, ClavystBio has committed over US $220 million in investments in the life sciences sector. For more information, please visit About ATX101ATX101 is a novel investigational configuration of an approved, well-characterized, validated intracellular sodium ion channel blocker, bupivacaine, and a biopolymer that has been designed to provide weeks of pain relief following total knee arthroplasty (TKA, or replacement), a common orthopedic surgery. ATX101 has a high density of drug within its small footprint to allow for ultra-sustained analgesia. It is placed in minutes at the end of standard surgery to deliver its analgesic effect over weeks before eventually dissolving into water and carbon dioxide. The simple procedure does not require specialized training and is intended to replace the existing complex mix of analgesic products used for shorter-term pain management in the post-surgical setting. ATX101 is an investigational product that has not been approved by the U.S. Food and Drug Administration. About Allay TherapeuticsAllay Therapeutics is pioneering ultra-sustained analgesic products to transform post-surgical pain management and recuperation for patients and physicians. Our proprietary technology platform combines validated non-opioid analgesics and biopolymers to create dissolvable candidates to deliver pain relief within a targeted site over weeks: an order of magnitude greater than the longest-lasting pain treatments currently available. Our platform and vision were shaped by The Foundry incubator and Lightstone Venture's Singapore Fund. Allay unites a dynamic, global team of entrepreneurs, scientists, clinicians and innovators in the San Francisco Bay Area and Singapore. Learn more at View source version on Contacts For further details, please contact:InvestorsAdam Mediaallay@ Sign in to access your portfolio
