Temasek-backed venture builder co-leads $16m round of Automera

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Automera, a Singapore-based biotechnology company, has raised US$16 million in series A financing.

The round was co-led by Accelerator Life Science Partners (ALSP) and ClavystBio – a Temasek-backed venture builder looking to build out global health solutions from Singapore. EDBI, Xora Innovation, and other undisclosed investors also joined in.

Automera was founded out of Talo Labs – which funds and builds therapeutics companies and technologies – in collaboration with ALSP. The biotech firm will initially focus on developing therapies for cancer.

Its main focus lies on autophagy-targeting chimera small molecules, a novel type of tech that leverages autophagy to remove disease-related proteins and other cellular components. Autophagy is the body’s natural way of cleaning out damaged cells to make way for new and healthier cells.

Funding details

• Funding amount: $16,000,000
• Lead investors: Accelerator Life Science Partners, ClavystBio
• Other investors: EDBI Pte Ltd, Xora Innovation
• Stage: Series A
• Source

Alice Chen, executive vice president at ALSP and an Automera board member, said ALSP looks to work with the Singapore biotech community to improve the tech and programs Automera is developing.

Singapore is one of the top emerging biotech hubs in Asia Pacific due to its lively startup ecosystem and supportive government policies. The city-state is also taking action to meet the growing demand for workers in the space.

One of the major startups in the sector is Mirxes, a developer of testing kits for the detection of cancer and other diseases. The company’s also set to go public in Hong Kong after securing US$50 million earlier this year.

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