Accuron MedTech, a division of Accuron Technologies Limited, a wholly-owned subsidiary of Temasek Holdings, has led an investment totalling $11.2 million into AWAK Technologies, a Singapore medtech start-up developing solutions that address end-stage renal disease.
This funding will support the commercialisation of AWAK’s sorbent regenerative technology, which aims to improve dialysis treatment options in addition to enabling the development of light-weight medical devices, with the potential for reducing the cost and complexity of dialysis.
Abel Ang, Group CEO of Accuron MedTech, stated: “Accuron MedTech, through Dornier MedTech, is a global leader in providing treatment solutions in the $400-million kidney stone market. AWAK Technologies is our first step in diversifying into the wider kidney disease market. We see great synergies amongst our portfolio companies, which can leverage upon each other for development capabilities, networks and manufacturing.”
AWAK’s medical technology has applications in both hemodialysis and peritoneal dialysis for the removal of toxins from patients suffering from kidney failure. The sorbent technology regenerates and reconstitutes used dialysis fluid into fresh fluid, which means more efficient dialysis with up to 90 per cent less dialysis fluid compared to conventional dialysis machines.
Over the past few years, Accuron MedTech has been growing its existing business, Advanced Materials Technologies, Dornier MedTech and Veredus Laboratories.
The group has also been participating actively in mergers and acquisitions across the globe, building a strong international medtech company with scale and diversity to compete effectively beyond the shores of Singapore.
Accuron MedTech joins existing shareholders of AWAK Technologies, which include Baxter Healthcare SA and TP Innovation Holdings Pte Ltd. According to a media release, this is the seventh medtech investment/ divestment transaction that Accuron MedTech has made in the last three years and was conducted through the MedTech Alliance, an accelerator appointed by SPRING SEEDS Capital to facilitate the growth of start-ups in the local medtech industry.
“Our technology platform addresses the $85-billion end-stage renal disease market. We plan to use the investment led by Accuron MedTech to accelerate our research and development activities towards fruition of our products by 2018. We look forward to working with Accuron MedTech to bring these consumables to market,” said Dr Gordon Ku, Chairman, AWAK Technologies.