Scaling Singapore biotech takes a global network, says ClavystBio’s Khoo Shih

The BioCentury Show: how the Singapore VC firm CEO is building a global strategy to propel the local ecosystem

Success for the Singapore biotech project will take a global network, one which Khoo Shih and other prominent drivers of the local ecosystem are keen to leverage to bring the right combination of talent, experience and capital to the growing hub.

Speaking on The BioCentury Show, Khoo Shih, CEO of investment firm ClavystBio, laid out the strategy for capitalizing on the ascendant energy and attention being devoted to Singapore biotech.

Khoo Shih noted that Singapore has had a disconnect on the one hand between its ability to generate high quality science and its ability to translate that into drug development programs, and on the other hand between its very active investor community and its history of leveraging that capital in biotech to Singapore’s local benefit. 

She said that major investors such as Temasek — where she spent 16 years as an investor, growing the life sciences portfolio, before launching its affiliate ClavystBio last year — have had a global strategy and built global networks. They observed “how innovation is rising around the world, including in Asia, driven by increased investments into R&D and talent,” she said. 

“And yet we noticed that a lot of these innovations are not translated into health impact in Singapore and Asia,” said Khoo Shih. 

So while Singapore has a lot of the ingredients for a hub, bringing them together to create a critical mass of successful SMEs will take engaging key players beyond its borders. 

The impetus now, for herself and other stakeholders, is to capitalize on the strengths and relationships in the U.S., Europe and Asia to grow what she refers to as a “nascent” ecosystem and infrastructure. More than half of ClavystBio’s investments are in innovations and ideas from local institutions, she said. But partners such as Polaris Partners, Lightstone Ventures, and the recently formed 65Lab, among others, are bringing their global connections to supply management talent and mentorship in addition to funding.

“We want to be very hands-on, close partners,” to the entrepreneurs and founders, she said. While the goal continues to be to create companies that solve global problems and have a global outreach, the path involves bringing in international life science investors from day one, said Khoo Shih.

“That’s important because it’s not just about capital. They also bring networks to talent and capabilities, and ultimately market access,” she said.

Meet ClavystBio’s Khoo Shih and 40+ additional speakers at the 3rd BioCentury BayHelix East West Biopharma Summit March 4-6 in Singapore.