Singapore, July 26, 2010: Clearbridge Accelerator and NUS Enterprise has announced the setting up of Clearbridge Nanomedics. This is a spin-off company from the National University of Singapore (NUS) that will focus on developing a nanofiber mesh with applications in the cosmetic and wound management industries. Clearbridge Nanomedics is supported by NUS Enterprise and incubated by Clearbridge Accelerator, one of the high-technology incubators backed by the National Research Foundation’s Technology Incubation Scheme.

Clearbridge Nanomedics’ underlying technology is based on a nanofibre mesh, which was first developed by Prof. Lim Chwee Teck and his team, from the Division of Bioengineering and Department of Mechanical Engineering at NUS.

This nanofiber consists of a bio-resorbable and bio-compatible polymer. It has good mechanical, physical and chemical properties, making it suitable for a wide range of medical applications.

“Setting up this new company, Clearbridge Nanomedics, is exciting as we are focusing on a novel technology that can potentially become a new delivery platform for wound management and even cosmetics,” said Prof Lim Chwee Teck, who is also a Co-Founder of Clearbridge Nanomedics.

“Translating University assets and resources into a commercialisable product or service, with real benefits is not an easy task, and we are pleased to be granting Clearbridge Nanomedics an exclusive worldwide license for the underlying technology. I commend Clearbridge Accelerator for its vision in setting up Clearbridge Nanomedics. This is the second spin-off company that we are launching with Clearbridge Accelerator, the first being Clearbridge Biomedics, which is developing an oncology diagnostics platform. I look forward to strengthening NUS’ relationship with Clearbridge Accelerator, as we continue to liaise together through transferring new technologies, research collaborations and spinning off more companies. We are actively working with the incubators under NRF’s Technology Incubation Scheme, to turn innovations into new businesses,” said Dr Lily Chan, CEO NUS Enterprise.

“We shall initially be focusing on the cosmetic applications, as the product is closer to the market. It also has a larger market potential, with the skincare market estimated to reach US$58.5 billion by 2012. At the same time, we will continue product development for wound management. However, since this will require clinical trials and necessary regulatory approval, we expect it to have a longer time to market,” explained Johnson Chen, Managing Partner of Clearbridge Accelerator, and a Co-Founder of Clearbridge Nanomedics.

The first product that Clearbridge Nanomedics aims to develop is a high-surface contact area, ultra-pliable, time-release, leave-on facial mask. This could be applied as extended-wear facial masks, anti-aging stickers or eye patches. The nature of the nanofibers mesh gives it an ultra-high surface contact area due to the fine nature of the nanofibers. This provides better conformity to the skin’s surface and can be used to encapsulate collagen or other skin-enhancing ingredients. In addition, the extremely pliable nature of the nanofiber mesh makes it ideal for face contouring and its ultra-thinness allows it to be worn at length comfortably. These nanofibers can also be made to have time-release properties, thereby allowing for nourishing compounds such as vitamins, sunscreen or other desirable medication to be continuously delivered directly to the skin at an optimum rate or dosage.

“Clearbridge Nanomedics is working with clinicians and plastic surgeons for the formulation of effective anti-aging ingredients for the nanofiber masks. We have also identified distribution channels and are in the process of setting up the marketing team. Once we have proof of concept that our nanofiber mask is superior to other cosmetic delivery platforms, we plan to tie up with major cosmetic players within the industry,” said Mr Johnson Chen.

Clearbridge Accelerator is the Singapore incubation arm of Clearbridge Partners, a Hong Kong-based venture capital firm.