"Our new technologies, called recycling and sweeping antibody technologies, are extremely important achievements in our more than 20-year history of activities in biopharmaceutical research," said Mr. Nagayama.

CPR was established with an initial investment of S$1.5 million and Chugai is also looking to invest approximately S$200 million in Singapore on antibody research over the next five years.

"We are immensely excited by the potential for CPR to create innovative antibody drugs with dramatic improvements in therapeutic effects that could have a wide-ranging impact on the improvement of healthcare around the world. My sincere wish is for government agencies and the industry to cooperate continuously to promote economic growth and healthcare for the well-being of all," he said.