Specialist engineering services provider Acromec has announced that Life Science Incubator, its joint venture company with strategic partner Tako Ventures, has launched the first Life Science Incubator co-working laboratory space.
The space, located at the German Centre, International Business Plaza, was launched on Sept 24 in a ceremony attended by Minister of State Alvin Tan.
Serving early-stage bio and pharma start-ups, companies and entrepreneurs in the medtech, biotech, biopharma and foodtech sectors, Life Science Incubator will provide flexible co-working laboratory spaces for research and development.
See also: Acromec bags $4.8 million contract in biotech sector
“Today marks the start of our exciting journey at the Life Science Incubator. We look forward to supporting science and technology start-ups and being an integral launchpad for their endeavours. With our strong network of partner companies, we are confident that the incubator will become a vibrant centre of entrepreneurship, technology and science,” says Niamh Madden, general manager of Life Science Incubator, "
In July, the group announced that wholly-owned subsidiary Acromec Engineers had entered into a joint-venture agreement with strategic partner Tako Ventures to build, own, and operate the joint venture company and co-working laboratory facilities. Life Science Incubator is 30% owned by Acromec through Acromec Engineers, while Tako Ventures holds the remaining 70% stake.
Acromec Engineers undertook the design, construction, and fitting-out works for the 600 square meter Life Science Incubator's co-working lab facilities, which includes 8 suites, 51 lab benches, and 1 operating theatre.
As at 10.15am, shares in Acromec are trading flat at 9.3 cents.
Photo: Acromec
