A*STAR and Flagship Pioneering Announce Partnership to Spur Biotech Innovation in Singapore
Organizations Plan to Jointly Advance Breakthrough Solutions in Human Health and Sustainability, Drive Research Collaboration, Entrepreneurship and Accelerate Talent Development
SINGAPORE, Oct. 2, 2024 /PRNewswire/ -- The Agency for Science, Technology and Research (A*STAR), Singapore's lead public sector R&D agency, and Flagship Pioneering, the bioplatform innovation company, today announced plans to collaborate to advance health and sustainability outcomes in Singapore and the broader Asia Pacific region. In this collaboration, A*STAR and Flagship will jointly commit up to SGD100 million over the next five years.
A*STAR and Flagship outlined the goals of their collaboration via a Memorandum of Understanding (MOU) signed Tuesday. 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. Talent development is another pillar of the collaboration, with potential scientific dialogues and internship opportunities at Flagship and its portfolio companies.
Together, A*STAR and Flagship seek to spur innovation and venture creation activities that help create and grow Flagship companies in Singapore. Flagship will contribute its signature approach to company creation and development while A*STAR will contribute its expertise in science and technology through access to its scientists and facilities. This MOU will have the potential to expand and foster collaborations among key players across Singapore's biotech ecosystem.
"By joining forces, Flagship and A*STAR can further boost the already thriving life sciences ecosystem in Singapore and beyond, with breakthrough research, purposeful entrepreneurship and accelerated talent development," said André Andonian, Chair of Asia Pacific and Strategic Advisor, 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."
"We are excited to be working with globally-recognized venture builders like Flagship Pioneering, to bring new companies with cutting-edge technologies in areas of strategic interest to Singapore," said Irene Cheong, Assistant Chief Executive at A*STAR's Innovation & 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."
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 www.a-star.edu.sg.
About Flagship Pioneering
Flagship Pioneering invents and builds bioplatform companies, each with the potential for multiple products that transform human health or sustainability. Since its launch in 2000, Flagship has originated and fostered more than 100 scientific ventures, resulting in more than $75 billion in aggregate value. To date, Flagship has deployed over $3.8 billion in capital toward the founding and growth of its pioneering companies alongside more than $27 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 40 companies, including Foghorn Therapeutics (NASDAQ:FHTX), Moderna (NASDAQ:MRNA), Omega Therapeutics (NASDAQ:OMGA), Sana Biotechnology (NASDAQ:SANA), Generate Biomedicines, Inari, Indigo Agriculture, and Tessera Therapeutics.
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A*STAR
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SOURCE Flagship Pioneering