W3 made its first bio-med investment in an innovative drug discovery company, together with Temasek Holdings (Pte) Ltd and other Venture Capital firms and private investors. The investee company raised S$14.5m in the current round and S$39m in total funds raised.
The company, co-founded by top UK Scientists building on many years of research effort from well-know tertiary research institutions and industry, and senior Singapore executives & investors, has raised $24.5m in earlier funding rounds and is commencing Stage 2b human clinical trials and target to complete the trials by end of 2005.
The company expects to be in a strong position to undertake trade sales to large pharmaceutical firms, or to raise funds from world Venture Capital firms or capital markets to undertake own business growth.
About W3 Infocomm Group Pte Ltd
W3 Infocomm Group is an investment holding company with sterling track records in investing and raising subsequent round funding for start-ups and early stage companies. With some of its portfolio companies now actively in the process of M&A and IPO, W3's investment focus has shifted from what was primarily early stage investment in infocomm and media companies to quality investments in late stage, pre-IPO and pre-trade sales companies. Shareholders of W3 and its investee companies include Temasek Holdings (Pte) Ltd [via its 100% held Greendot Capital Pte Ltd], SingTel Group, Singapore Technologies Electronics Ltd, Gemplus-EDB Smart Labs Pte Ltd and PrimePartners Group, a US$300 million venture capital fund.
For more information, visit www.w3ig.com
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