Insight to InvitroCue’s Success – from Invention to IPO
On Jan 27 2016, local biotech company InvitroCue made its debut on the Australian Securities Exchange (ASX: IVQ) – just four years after its founding. The company, a spin-off from A*STAR, just announced that it had raised an AUD 3.15 Million (SGD3.17 Million) on the ASX through a reverse takeover.
In an exclusive one-on-one interview with Biotech Connection Singapore (BCS), the InvitroCue team (co-founders Dr Steven Fang, Prof Hanry Yu, and two of the first pioneering members, Dr. Abhishek Ananthanarayanan and Dr. Shuoyu Xu) shared their experience and appeal as a success formula for entrepreneurs in the local startup scene.
BCS : Can you share with us what are the critical drivers underlying InvitroCue’s success?
InvitroCue : We focus on four components essential to every company’s success – technology, market strategy, business model and leaders.
Technology: We focus on two core technology developments – cell-based assay model and digital pathology. The beauty of our cell-based assay 3D model lies its ability to keep liver cells alive which represents a more faithful mimic of in vivo liver. Using our in vitro models that have in vivo relevance, we provide in vitro toxicology and safety assessment services to test experimental drug compounds. Due to the huge amount of money incurred during R&D activities, pharmaceutical companies are in urgent need of strategically cutting down their expenses. We grasped this window of opportunity by providing better analytics in the space of in vitro drug assessment, which gives these companies an avenue to tinker on their cost base. Till now, our technology has managed to help pharmaceutical companies save hundreds of millions of dollars spent on in vivo testing.
The second core technology development focuses on imaging analytics; we currently operate in the space of digital pathology, which is a relatively intact research area. Our CuePath platform is designed to convert pathology images derived from pathology glass slides to digital and optical images, and subsequently archive and transmit via our CuePath to various other pathologists. This facilitates the sharing and analysis of images flowing through our accredited pathologist networks, which could expedite preclinical research outcomes and patient diagnosis.
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Photo contributed by InvitroCue @ Sky Gardens, Helios Biopolis.