Singapore startup Albatroz wins financing to develop solid tumour drugs
26 Apr 2023
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Source: Pharmaceutical Technology
Akosua Mireku
@AkosuaMireku1
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Source: Pharmaceutical Technology
Landscape of Singapore business building around Marina bay. Albatroz Therapeutics is based in Singapore. Credit: MOLPIX via Shutterstock
Albatroz Therapeutics announced a successful $3 million financing round on April 26. This investment will be used to further the development of the Singapore-based pharmaceutical company’s solid tumour-focused monoclonal antibodies. The funding and a prize-win from Amgen will support the company’s drug development plans as Singapore continues developing its pharmaceutical market.
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View allCompanies IntelligenceSeeds Capital Pte LtdAlbatroz Therapeutics Pte LtdOutram Bio Pte LtdView all Submit
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Outram Bio and SEEDS Capital led the successful funding round. SEEDs Capital is an investment arm of Enterprise Singapore that supports early-stage technology startups. In the press release, the company announced that Amgen granted Albatroz the first Golden Ticket prize in Singapore for its science and business plan. The Amgen Golden Ticket awards support to early life science businesses by offering them resources for business development. In this case, Albatroz has been rewarded with access to a fully equipped, turnkey, and certified BSL-2 laboratory from NSG Biolabs.
Albatroz Therapeutics is developing first-in-class antibody therapeutics for solid tumours and arthritic disorders. The company targets disease through mechanisms in the extracellular matrix (ECM), where Albatroz’s medicines target and degrade a protein complex, Calnexin. This protein complex is activated by a glycosylation pathway involved in the pathogenesis of these diseases. In solid tumours, this action prevents ECM degradation and tumour growth, which in arthritis, this prevents the destruction of cartilage ECM.
This news arrives as there is a larger push to develop Singapore’s pharmaceutical industry. In December 2022, GSK, Sanofi and Takeda entered an agreement with a partnership of agencies to further biologic manufacturing in Singapore. The country is also an attractive site for handling operations in Asia as Novo Nordisk and GSK have opened regional headquarters there.
The country is also developing its pharmaceutical market through the Pharma Innovation Programme Singapore (PIPS), which supports Singapore’s manufacturing and data analytics capabilities.
As of April 13, GlobalData calculates that the country’s overall market access risk score as 2.32. Market access risk scores consider quantitative and qualitative factors that affect market access to give an overall score denoting the stability of the pharmaceutical market access environment in a country. The scale goes from one to ten with a lower score ranking a more stable market.
GlobalData is the parent company of Pharmaceutical Technology.
A partner at Outram Bio, Christopher Tan said, “Albatroz Therapeutics is an exciting example of the burgeoning biotech industry in Singapore– Southeast Asia’s largest biotech hub, and one that boasts cutting-edge research and attracts leading scientists from around the world”.
Free Report
How is the Biopharmaceutical industry evolving?
2021 was a year of continued innovation and change in the Biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, it’s time to look for new ways to create value, prepare for the future, and remain competitive in the ever-changing landscape.
GlobalData’s expansive report examines the business environment and trends that shape the Biopharmaceutical industry. We highlight the most impactful emerging technologies, as well as the industry, regulatory, and macroeconomic factors that influence growth prospects.
Access the report to:
Benchmark the impact of major themes on the Biopharmaceutical industry.
Gain a deeper "on the ground" perspective through exclusive opinions and analysis from industry respondents.
Evaluate the effects of COVID-19 on the sector.
Download the full report to understand what to expect and how to align your strategies for success.
By GlobalData
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Source: Pharmaceutical Technology
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Country Code
UK (+44)
USA (+1)
Algeria (+213)
Andorra (+376)
Angola (+244)
Anguilla (+1264)
Antigua & Barbuda (+1268)
Argentina (+54)
Armenia (+374)
Aruba (+297)
Australia (+61)
Austria (+43)
Azerbaijan (+994)
Bahamas (+1242)
Bahrain (+973)
Bangladesh (+880)
Barbados (+1246)
Belarus (+375)
Belgium (+32)
Belize (+501)
Benin (+229)
Bermuda (+1441)
Bhutan (+975)
Bolivia (+591)
Bosnia Herzegovina (+387)
Botswana (+267)
Brazil (+55)
Brunei (+673)
Bulgaria (+359)
Burkina Faso (+226)
Burundi (+257)
Cambodia (+855)
Cameroon (+237)
Canada (+1)
Cape Verde Islands (+238)
Cayman Islands (+1345)
Central African Republic (+236)
Chile (+56)
China (+86)
Colombia (+57)
Comoros (+269)
Congo (+242)
Cook Islands (+682)
Costa Rica (+506)
Croatia (+385)
Cuba (+53)
Cyprus North (+90392)
Cyprus South (+357)
Czech Republic (+42)
Denmark (+45)
Djibouti (+253)
Dominica (+1809)
Dominican Republic (+1809)
Ecuador (+593)
Egypt (+20)
El Salvador (+503)
Equatorial Guinea (+240)
Eritrea (+291)
Estonia (+372)
Ethiopia (+251)
Falkland Islands (+500)
Faroe Islands (+298)
Fiji (+679)
Finland (+358)
France (+33)
French Guiana (+594)
French Polynesia (+689)
Gabon (+241)
Gambia (+220)
Georgia (+7880)
Germany (+49)
Ghana (+233)
Gibraltar (+350)
Greece (+30)
Greenland (+299)
Grenada (+1473)
Guadeloupe (+590)
Guam (+671)
Guatemala (+502)
Guinea (+224)
Guinea - Bissau (+245)
Guyana (+592)
Haiti (+509)
Honduras (+504)
Hong Kong (+852)
Hungary (+36)
Iceland (+354)
India (+91)
Indonesia (+62)
Iran (+98)
Iraq (+964)
Ireland (+353)
Israel (+972)
Italy (+39)
Jamaica (+1876)
Japan (+81)
Jordan (+962)
Kazakhstan (+7)
Kenya (+254)
Kiribati (+686)
Korea North (+850)
Korea South (+82)
Kuwait (+965)
Kyrgyzstan (+996)
Laos (+856)
Latvia (+371)
Lebanon (+961)
Lesotho (+266)
Liberia (+231)
Libya (+218)
Liechtenstein (+417)
Lithuania (+370)
Luxembourg (+352)
Macao (+853)
Macedonia (+389)
Madagascar (+261)
Malawi (+265)
Malaysia (+60)
Maldives (+960)
Mali (+223)
Malta (+356)
Marshall Islands (+692)
Martinique (+596)
Mauritania (+222)
Mayotte (+269)
Mexico (+52)
Micronesia (+691)
Moldova (+373)
Monaco (+377)
Mongolia (+976)
Montserrat (+1664)
Morocco (+212)
Mozambique (+258)
Myanmar (+95)
Namibia (+264)
Nauru (+674)
Nepal (+977)
Netherlands (+31)
New Caledonia (+687)
New Zealand (+64)
Nicaragua (+505)
Niger (+227)
Nigeria (+234)
Niue (+683)
Norfolk Islands (+672)
Northern Marianas (+670)
Norway (+47)
Oman (+968)
Palau (+680)
Panama (+507)
Papua New Guinea (+675)
Paraguay (+595)
Peru (+51)
Philippines (+63)
Poland (+48)
Portugal (+351)
Puerto Rico (+1787)
Qatar (+974)
Reunion (+262)
Romania (+40)
Russia (+7)
Rwanda (+250)
San Marino (+378)
Sao Tome & Principe (+239)
Saudi Arabia (+966)
Senegal (+221)
Serbia (+381)
Seychelles (+248)
Sierra Leone (+232)
Singapore (+65)
Slovak Republic (+421)
Slovenia (+386)
Solomon Islands (+677)
Somalia (+252)
South Africa (+27)
Spain (+34)
Sri Lanka (+94)
St. Helena (+290)
St. Kitts (+1869)
St. Lucia (+1758)
Sudan (+249)
Suriname (+597)
Swaziland (+268)
Sweden (+46)
Switzerland (+41)
Syria (+963)
Taiwan (+886)
Tajikstan (+7)
Thailand (+66)
Togo (+228)
Tonga (+676)
Trinidad & Tobago (+1868)
Tunisia (+216)
Turkey (+90)
Turkmenistan (+7)
Turkmenistan (+993)
Turks & Caicos Islands (+1649)
Tuvalu (+688)
Uganda (+256)
UK (+44) -->
Ukraine (+380)
United Arab Emirates (+971)
Uruguay (+598)
USA (+1) -->
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Vatican City (+379)
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Ireland
Isle of Man
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
North Korea
South Korea
Kuwait
Kyrgyzstan
Lao
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Lebanon
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Liechtenstein
Lithuania
Luxembourg
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Macedonia, The Former
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Malawi
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Marshall Islands
Martinique
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Mayotte
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Montserrat
Morocco
Mozambique
Myanmar
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Netherlands
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pakistan
Palau
Palestinian Territory
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn
Poland
Portugal
Puerto Rico
Qatar
Réunion
Romania
Russian Federation
Rwanda
Saint Helena, Ascension and Tristan da Cunha
Saint Kitts and Nevis
Saint Lucia
Saint Pierre and Miquelon
Saint Vincent and The Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
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South Africa
South Georgia and The South
Sandwich Islands
Spain
Sri Lanka
Sudan
Suriname
Svalbard and Jan Mayen
Swaziland
Sweden
Switzerland
Syrian Arab Republic
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Turks and Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
US Minor Outlying Islands
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
British Virgin Islands
US Virgin Islands
Wallis and Futuna
Western Sahara
Yemen
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Zimbabwe
Kosovo
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