Curiox Biosystems Secures $15 Million Series B Funding to Accelerate Global Expansion and Files IPO Prospectus

VCBeat (WeChat ID: vcbeat) learned from foreign media that on October 16, 2019, Singapore-based biotechnology company Curiox Biosystems (Curiox) announced the completion of a $15 million Series B financing round. Investors included KB Investment, IMM Investment, QUAD Investment, HB Investment, DAYLI Investment, and SV Investment.

This round of financing will be used to accelerate Curiox's commercialization activities worldwide.

Headquartered in Singapore and led by its founder and CEO, Dr. Namyong Kim, Curiox is a biotech instrumentation company spun out from the Agency for Science, Technology and Research (A*STAR). It is dedicated to developing biological instruments for cell analysis and therapy for the pharmaceutical and biotechnology industries. The company has successfully entered the markets in the United States, China, South Korea, and Europe.

According to foreign media reports, Curiox plans to conduct an initial public offering (IPO) on the Korea Exchange (KOSDAQ) within the next 36 months to consolidate its market position in the region.

Recently, Curiox also announced the launch of two new systems: Laminar Wash™AUTO 100 and Laminar Wash™MINI. The Laminar Wash™AUTO 100 provides scientists with a fully automated flow cytometry staining platform, designed to enable flow cytometers to generate the most quantitative and reproducible results. The Laminar Wash™MINI is a compact benchtop unit designed for small laboratories; this system replaces manual steps and sample processing procedures, thereby improving consistency across users and sites.

Dr. Namyong Kim stated, “We are delighted to introduce these two new systems to the scientific research community. The newly injected capital will be used to expand our global operations.”

Upon the completion of this round of financing, the new board of directors will be chaired by Mr. Sim Giok Lak, Chairman of ZIG, and will include Dr. Namyong Kim, Founder of Curiox; Mr. Sim Kok Hwee, CEO of ZIG; Dr. Hong Youngtae, Managing Director of QUAD Investment; and Ms. Aleum Lee.

Curiox was initially incubated by ZIG, which provided extensive support during the incubation and commercialization phases, including facilitating collaborations with Korean conglomerates to help Curiox enter markets in the United States, China, and South Korea. ZIG is a Singapore-headquartered medical technology venture capital and commercialization organization that spun off from Zicom Group in 2018, focusing on oncology, medical analytics, ophthalmology, and life sciences.

KB Investment, established in 1990, is one of South Korea’s leading venture capital and private equity firms, primarily investing in early-stage startups.

IMM Investment is an independent venture capital firm based in Seoul, South Korea, focusing on the IT and healthcare sectors.

QUAD Investment, established in 2009, is an independent venture capital firm based in Seoul, South Korea, managing approximately $1 billion in equity assets (as of June 2019).

(Compiled by He Li)