Despite planting seeds for decades, Singapore has yet to blossom into a global hub for biotechs. A new wave of international biopharmas setting up shop in the country and an influx of sophisticated, global biotech investors could change that.

The funding will be used as working capital to further develop the company’s innovative digital cross-border trade and financial services enabled by trusted credentials.

The pandemic has brought the spotlight onto the healthcare and biomedical sectors, driving unprecedented enthusiasm in the relatively unknown field of mRNA innovations, and bolstering growth in digital health. Yet, the silver lining has dulled investors’ sentiments post-COVID. Increasingly, investors have become more cautious against macroeconomic headwinds, and many are expecting a correction in company valuations across all sectors.