redOrbit
17 Jun 2008
SAN DIEGO, June 17 /Xinhua-PRNewswire/ -- Singapore's investment of more than US$2.1 billion in the biomedical sciences sector has seeded one of the fastest growing bioclusters in the world. R&D spending in the biomedical sciences grew by more than 24% to reach US$760 million in 2006 (from 2005), while the number of research scientists and engineers working in the sector has similarly grown by more than 12% to exceed 2,000 people.
More than 50 companies have established biomedical sciences research operations in Singapore. The majority are involved in drug discovery and translational research. These decisions attest to the industry's recognition of Singapore's value as a leading, world-class R&D hub providing access to global talent, world class scientific and clinical infrastructure as well as growth opportunities in Asia.
Recent expansions include Pfizer's multi-therapeutic clinical research unit and Takeda's neuroscience research lab. Novartis Institute for Tropical Diseases extended their study into malaria, while Lilly expanded its research into cancer in addition to metabolic diseases. The new Lilly-Singapore Center for Drug Discovery, comprising 150 scientists, will house its first drug hunting teams in Asia, the only drug discovery groups in Lilly focusing on stem cell biology and epigenetics research.
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