Pfizer Ventures backs Engine Biosciences in first SE Asia bet
What's the deal? Pfizer VenturesDealroom has a profile for this one. Try Dealroom →, the corporate venture arm of PfizerDealroom has a profile for this one. Try Dealroom →, has invested in Singapore-based Engine Biosciences, marking its first startup investment in Southeast Asia.
The biotech uses machine learning to discover new drugs, and operates from Singapore and its Silicon Valley office.
The deal builds on Engine Biosciences' momentum after it raised $13.6 million from existing investors.
Why now? Engine Biosciences is expanding its footprint into the US, signalling a push to scale globally. For Pfizer Ventures, the move plants a flag in a region it had yet to back directly.
The signal: Pfizer Ventures' first Southeast Asian cheque suggests the region's biotech scene is maturing into one global investors can no longer ignore. For Engine Biosciences, a late-stage company applying machine learning to genomics for drug discovery, the backing from a pharma giant's venture arm lends weight to its push to scale beyond Singapore.
Read more: DealStreetAsia
