TECHNOLOGY AND PUBLIC-PRIVATE PARTNERSHIPS
Companies can collaborate with scientists in Singapore’s public-sector research institutes to work on developing new medical technology innovations and applications. These institutes have established strong capabilities in various technologies across multiple disciplines such as bioimaging, cell biology, materials engineering, microelectronics and nanotechnology that can be translated into novel applications for life science instruments and medical devices.
For example, the close collaboration between scientists from the Experimental Therapeutics Centre (ETC) under A*STAR and clinicians from Tan Tock Seng Hospital has enabled the successful development of the most comprehensive and rapid H5N1 bird flu test kit available to date. With this highly advanced kit, doctors can now rapidly detect all existing strains of the H5N1 viruses in a single test with almost 100% accuracy, within a few hours. AITbiotech Pte Ltd, a regional provider of genomic services and molecular diagnostics kits, has recently signed a licence agreement with Exploit Technologies, the technology transfer arm of A*STAR, to market this H5N1 kit regionally.
An extension of its headquarters in North Carolina, USA, the BioVenture Centre in Singapore engages in technology development for areas that include cellular and in-vitro diagnostics for chronic conditions and diseases, as well as media for biologic therapies, cells and tissues. This allows BD to maximise its contributions to new ventures and customers.
KEY PLUG-AND-PLAY INFRASTRUCTURE
Singapore is committed to invest in infrastructure to help medical technology companies defray heavy capital investments and create flexibility in cost. The Medtech Hub is the first specially built facility for the medical technology industry in Singapore and is set to host an integrated ecosystem of local and international medical technology companies, such as manufacturers, suppliers and service providers, and providing shared utilities. As the medical technology industry is a highly regulated one, the Medtech Hub will provide common sterilisation, shared corridor facilities and a warehousing facility that comply with Good Manufacturing Practice and Good Distribution Practice guidelines. This will help companies reduce costs and risks in manufacturing their products to meet the regulatory requirements.
Most notably, the Biopolis at one-north is the premier research hub for Biomedical Sciences, hosting key public and private biomedical research laboratories, institutes and organisations. It anchors the development of the entire R&D value chain of life sciences, encompassing basic drug discovery, clinical development and medical technology research. By fostering a collaborative culture among scientists, technopreneurs and researchers and providing access to state-of-the-art facilities, scientific infrastructure and specialised services, the Biopolis allows companies to cut R&D costs significantly and accelerate the development timeline.
Strategically located next to the Biopolis, the Fusionopolis houses Singapore’s public sector research institutes that specialise in physical sciences and engineering disciplines. By promoting cross-disciplinary research with biomedical sciences companies and research institutes, it helps to enhance Singapore’s capabilities in medical technology innovation.
Home to half of the world’s population, Asia presents new growth opportunities with an ever-rising ageing population and burgeoning middle-class. Between now to 2050, Asia’s ageing population is expected to dramatically increase by 314 per cent — from 207 million to an eventual 857 million.
An ageing population, a prevalence of chronic diseases and the growing affluence of its middle class have collectively led to an increase in demand for high quality medical technology products. This naturally presents tremendous opportunities for global medical technologycompanies to extend their presence here in Asia and address the healthcare needs of in this region. It is forecasted that Asia’s healthcare market will grow from US$246 billion in 2009 to US$349 billion in 2012, presenting a prime market to tap into.
As global medical technology companies seek to navigate the diversity and complexities of Asia’s regulatory landscape and clinical needs, Singapore will play a key role in being Asia’s gateway. Besides having talent access in the region, companies can also rely on a stable pro-business, pro-innovation environment that will help drive both innovation and top-line growth in Asia.
For medical technology companies seeking entry to regional markets, Singapore’s pro-business stance makes it easy to commence operations within a short time frame. It takes 15 minutes to register a business online, three to six weeks to receive approval for clinical trials, and 24 to 36 months for a manufacturing facility to be operational.
To nurture a pro-innovation environment for both local medical technology companies and the growing number of international arrivals, Singapore is strong on both ‘soft’ and ‘hard’ infrastructure. The former includes the nation’s protection and enforcement of intellectual property rights, core capabilities in science and engineering, and its base of voice-of-customer and regulatory specialists. The latter includes the Biopolis and Fusionopolis — key purpose-built research campuses that co-locate corporate labs with public-sector research institutes to facilitate private-public partnerships and entrepreneurial networks, which go on to seed new innovation.
Singapore is committed to being the “Biopolis of Asia”, a leading international biomedical sciences cluster. The government has so far invested over S$5 billion in building up industrial, human and intellectual capital in this area, and seeks to develop the sector ever further. With the region’s healthcare needs yet to be fully met, medical technology companies can look forward to more growth opportunities to enhance their economic presence.