NeoSci Ventures secures $54.7m for inaugural biotech fund
Singapore-based biotech investor NeoSci Ventures has reached a $54.7 million first close for its debut institutional fund.
NeoSci Ventures has secured S$70 million (US$54.7 million) in the first close of its inaugural institutional venture fund. The firm, which operates across Singapore, Taiwan, and the US, intends to allocate the capital to support up to 12 biotech companies worldwide.
Backers for the fund include Singapore’s EDBI, the National Development Fund of Taiwan, Catcher Technology, and the Crescendas Group, alongside various family offices and entrepreneurs. Founding managing partner Daphne Teo stated that the firm intends to maintain a hands-on approach by identifying scientific prospects and actively building management and research teams for its portfolio companies.
Founding chief scientist Timothy Lu noted that the operational involvement is intended to mitigate risks associated with drug development, where scientific feasibility often remains the primary hurdle. This funding comes amid broader global headwinds in the biotech venture capital market and a general slowdown in industry IPO activity.