SINGAPORE (June 18): When Singapore-based Aslan Pharmaceuticals made its debut on the Nasdaq Global Market on May 4, one of its investors, Abel Ang, was confident it would do well despite the fact that it sold less 1.5 million American Depository Shares than originally planned. A month on, shares in Aslan — a biotech firm that develops immunotherapies targeted at Asia-prevalent tumour types — are up 25% to trade at US$8.83 on June 12, and at least four banks are bullish on the stock. Ang, CEO of Accuron Medtech, is now on the lookout for more of such medical technology (medtech) companies.
Formed in October 2014, Accuron Medtech is a business unit of global precision engineering group Accuron Technologies. One of its investors is Temasek Holdings. It makes medical devices — the bestselling of which are urology devices — and generates more than US$200 million (S$267 million) annually.
Accuron Medtech also has a medtech incubation arm, which accounts for at least US$30 million in revenue a year. Ang, who spent nearly his entire career in the medtech sector in the US and Asia-Pacific, says the medtech incubator bets on game-changing technology... (Click here to read the full story)