C&R Healthcare Global (C&R HG) membership companies have made tangible results in recent business agreements and service supply contracts after joining to the Korea-Singapore healthcare incubator.
1-1. Bioinfra Lifescience signs service supply agreement with Raffles Hospital, Singapore’s leading private hospital.
Bioinfra Life Science Co., Ltd. Is will provide the i-Finder smart cancer screen ing service at one of Singapore’s leading private general hospitals, Raffles Medical Group, from January of next year. The i-Finder is a simple blood test that can use for risk testing for eight significant cancers (pulmonary, stomach, liver, colon, pancreas, breast, ovary, and prostate).
Founded in 1976, Raffles Hospital currently has more than 7,000 companies as B2B customers, and the i-finder test will recommend as a premium screening service or premium screening package. It will also be launched at Singapore Raffles Headquarters first, followed by Raffles overseas clinics such as Hong Kong, China, Japan, and Vietnam.
Founded in 2001, Bioinfra launched an early cancer screening test using multiple protein markers and algorithmic technology developed after 15 years of research by Kim Chul-woo, an honorary professor at Seoul National University. It is currently selling in cooperation with about 400 domestic and foreign hospitals.
In particular, the nineteen protein biomarkers and AI algorithm technology provide consumers with risk analysis and related expert findings and have more than 50,000 clinical data than other competitors. A Bioinfra official said that the accuracy of the test would increase as more data accumulates in the future due to the algorithm’s efficiency that is proportional to the amount of collected data.
Bioinfra also officially launched the i-Finder test in October through Innovative Diagnostics, a privately-held test lab under Singapore General Hospital, which has more than 2,000 local medical staff as their customers.
1-2. AllLive Healthcare signed a MoU with the National Clinical Research Institution
AllLive Healthcare, a company specializing in digital healthcare, signed a memorandum of understanding with Singapore National Institute of Clinical Testing (SCRI), it is the first case for Korean private company in Singapore, to support global commercialization of its smart clinical trial support platform ‘AllLiveC’
C&R Healthcare Global supported AllLive Healthcare’s advance into the Southeast Asian market from May, starting with the introduction meeting with Singapore’s public hospitals and national research institutes using local networks, and this MoU, as part of pilot project organized by Korea Health Industry Promotion Agency ICT, was made to advance into Singapore for AllLiveC Healthcare’s English-language service after finish reviewing local clinical trial system and regulations. Through the agreement, AllLive Healthcare will contribute to recruiting candidates for Singapore’s IIT (Investigator-Initiated Trials) based on know-how in recruiting participants in clinical trials accumulated in Korea, and expect to accelerate the development of AllLive’s English-language app further.
“Singapore and Southeast Asia are markets that must target to expand our global business,” said Lee Byung-il, CEO of AllLive Healthcare’s Global R&D Strategy Division. “By working with SCRI of Singapore, which is a hub of Southeast Asia’s clinical trials and leading clinical innovation, it is an opportunity for AllLive Healthcare to become a representative company in the Asian market.”
1-3. Opportunities for cooperation and exchange with domestic and overseas pharmaceutical companies for open innovation strategy support
Networking activities with global pharmaceutical companies were also active, who are seeking healthcare startups in Korea with superior technology. HQs in Singapore aim to enter the ASEAN market, but multinational pharmaceutical companies, who have had cultural and linguistic difficulties in accessing each country in Asia with a small number of people, are knocking on the door of C & R HG to get a prominent introduction for Korea.
This year, C&R Healthcare Global met with members of Ferring Pharmaceuticals, Roche Diagnostics, Johnson & Johnson, and Bayer R&D Innovations in Singapore to introduce our member companies and C & R’s Korean Drug Development Startup Network. Also, Yuhan Pharmaceuticals of Korea introduced to startups with Singapore’s new antibody development platform. Like global pharmaceutical companies, we will inject local networks to Korean pharmaceutical companies that are looking for technology introduction into Korea.
Their focus is on Korean technology in a variety of fields, including pharmaceuticals, diagnostics, and medical devices, and cosmeceutical and digital healthcare. C&R HG plans to support the strategic network of domestic promising healthcare startups to introduce their products and services to global companies more effectively through government startup support projects and local health care professional meetings.
We also regularly lead the Korean healthcare professionals in Singapore, where we have been working closely with Korean experts in the global regions of multinational pharmaceutical companies. Through this, we plan to develop a mentoring program for the growth of healthcare startups in the future and prepare a systematic framework for overseas expansion of Korean healthcare startups.