Singapore, Dec 24, 2007: Curiox Biosystems, a spin-off from Singapore's Institute of Bioengineering and Nanotechnology (IBN), part of the Agency for Science, Technology and Research (A*STAR), signed an agreement with a nanotechnology investment company from Germany called Nanostart AG. The company is taking an investment position in Curiox Biosystems, with a 16.5 per cent investment in the start-up.

 

For Nanostart AG, the investment in Curiox marks its first in Asia and is of strategic importance. Nanostart is investing in Curiox as the lead investor and is thus assuming an active role with its investment managers in the ongoing development of the company, jointly with Exploit Technologies

 

"Our new investment holding, Curiox, is our first step into the highly promising Asian market. Singapore has established an outstanding position for itself in Asia in nanotechnology. Through our investment in Curiox, we aim to directly participate in the dynamic growth of this region and to live up to our claim of global leadership. Further investments in Asia will follow," said Mr Marco Beckmann, CEO of Nanostart AG.

 

Mr Boon Swan Foo, Executive Chairman of Exploit Technologies, the marketing and commercialization arm of A*STAR, said, "We are very excited that the technologies from A*STAR have received such strong interest from Europe, and more so to have Nanostart as a partner to help Exploit Technologies realize the full commercial potential of Curiox. This is a very good beginning and we look forward to more collaborations with Nanostart."

 

Curiox holds a patented convenient and efficient technology platform in miniaturized aqueous bioassays for drug discovery and other life sciences applications. Its ready-for-market technology allows researchers to conduct bioassays significantly faster and cheaper with lesser material, while maintaining the same level of flexibility and convenience as conventional platforms. It reduces the amount of material and reagent required by up to a thousand times, while simultaneously reducing reaction time by ten times. This slashes the time needed to run certain tests by more than 60 per cent and reduce consumable costs by nearly 90 per cent.

 

Curiox's technology comprises a chip, upon which the reagents are added, mixed and incubated, and a bench-top station, which automatically completes the rinsing process. Industrial customers will also be able to profit significantly from the reduction in costs for reagents as well as the savings in time.

 

Curiox's target customers are research labs and high-throughput screening facilities in life sciences and drug discovery where bioassays are a necessary part of the research process. In particular, the U.S. represents Curiox's largest potential market with more than 12,000 suitable academic and government labs, which spent $14.3 billion on lab instruments, consumables and reagents in 2005, and more than 14,000 industrial pharma and biotech labs, which spent $37.4 billion in 2005.