Duke-NUS launches LIVE Ventures to boost commercialisation of academic research
Duke-NUS Medical School today launched LIVE Ventures, a S$20 million incubation programme designed to catalyse the commercialisation of innovative academic research. Aimed at translating scientific breakthroughs into clinical applications, LIVE Ventures will provide Duke-NUS scientists conducting high-impact research with essential commercialisation expertise and resources, and partner with both public and private sector entities to co-fund these projects. The initiative will start with a pilot project focused on developing novel treatments for chronic inflammatory diseases.
Bridging the knowledge gap in translating academic research into industrial products
The knowledge gap in commercialization and entrepreneurship is one of the biggest challenges for academic innovators in bringing research concepts to the market. To overcome this barrier in the early stages of the complex market discovery journey, LIVE Ventures will guide our scientists in conducting product-market fit evaluations by involving a diverse range of experts from industry, investors, pharmaceutical companies and market data professionals to explore the real market needs for each project. An Investment Advisory Committee has been established to tap into the expertise and experience of these experts to provide critical industry perspectives for project evaluation.
To increase the likelihood of successful commercialization, LIVE Venture will leverage external expertise by pairing experienced entrepreneurs, called Entrepreneurs-in-Residence, with awarded projects to provide dedicated entrepreneurial mentorship and operational support. Hands-on guidance from experienced entrepreneurs and domain experts is crucial for the transition from academic research projects to viable commercial ventures.
Essential funding for the commercialization of academic research projects
Traditionally, innovation funding opportunities have focused on either basic science research or end-spectrum commercialization, with limited resources dedicated to helping academic projects take that first crucial step toward commercialization. LIVE Ventures, with its first tranche of funding of S$10 million, will help bridge this gap by supporting up to 20 Duke-NUS research projects over the next five years. LIVE Ventures will not only guide these projects through the formation of spin-offs, but will also strategically invest in these companies, supporting their business growth.
Recognizing the critical role of early-stage funding in the successful development of academic research projects, LIVE Ventures will leverage Duke-NUS’s extensive network of industry partners to secure industry co-funders. By forging strategic alliances with organizations such as the School’s academic medicine partner SingHealth and other public and private funders such as 65LAB, LIVE Ventures brings together expertise and resources across research, clinical and venture creation to enable promising technologies to cross the “valley of death” of innovation.
As an incubator, LIVE Ventures aims to translate scientific discoveries into viable commercial opportunities with the potential to create start-ups by providing industry expertise, mentorship and financial support. In addition to supporting our scientists in translating research into novel clinical solutions, LIVE Ventures will foster a culture of entrepreneurship within the academic community, ultimately benefiting patients worldwide.”
Dr. Rainny Xie, Head of LIVE Ventures at Duke-NUS
First project awarded by LIVE Ventures
The first project that LIVE Ventures, in collaboration with 65LAB, will invest in is a unique platform developed by Associate Professor Lena Ho from the Cardiovascular and Metabolic Diseases Program to identify novel and high-value targets for anti-inflammatory therapies.
Over the next two years, Associate Professor Ho and her team expect to identify at least three candidates with therapeutic potential for reducing overactive inflammation in common diseases such as rheumatoid arthritis, inflammatory bowel disease and atopic dermatitis.
Duke-NUS’ strong track record of innovation
Innovation is a hallmark of Duke-NUS, with nearly half of its principal investigators involved in collaboratively developing their discoveries into new products to improve patient care. The school is globally renowned for its exceptional ability to translate research into commercial output.
As a translational research center, Duke-NUS scientists have achieved many scientific breakthroughs that have attracted the attention of investors and industry for further development. Duke-NUS’ track record in commercialization includes cPassTMthe world’s first “rapid smart test kit”, invented by Duke-NUS and co-developed with A*STAR’s Diagnostics Development Hub and biotech company GenScript Biotech. Launched in early 2020 and commercially available globally two years later, the tool helped countries in the fight against COVID-19.
Duke-NUS’s close collaboration with SingHealth, also Singapore’s largest healthcare institution, gives the school’s scientists direct access to SingHealth’s clinical resources, enabling them to validate their research findings and translate preclinical discoveries into clinical trials.
Associate Professor Christopher Laing, Vice Dean for Innovation and Entrepreneurship at Duke-NUS, said:
“What makes LIVE Ventures unique among academic life science programs in Singapore is its focus on integrating market perspectives and industry guidance early in the development process.”
“This is in line with our mission at the Office of Innovation & Entrepreneurship: by working with our academic partners, investors, entrepreneurs and corporates, we are building an innovation ecosystem to provide our scholars with access to critical funding, resources and expertise, thereby fostering entrepreneurship and driving innovation at Duke-NUS.”
In furtherance of Duke-NUS’ commitment to accelerating innovation from the lab to the bedside to positively impact patient care, LIVE Ventures will look to invest in projects with a development time of one to two years after proof-of-concept stage, assessing the commercial prospects of the projects by evaluating the level of innovation, validity and scalability, market potential and investment interest.
