The Straits Times, 4 Feb 2005
S'pore biomedical firm opens $1m stent facility

By: Shefali Srinivas, journalist

THE opening of a $1 million facility to make medical devices to keep heart arteries open is a "coming-of-age story" for Singapore's fledgling biomedical industry.

Dr Vivian Balakrishnan, Senior Minister of State for Trade and Industry, who inaugurated Biosensors International's Interventional Cardiology facility yesterday, said the company had reinvented itself by investing in research and development, and developing patented technologies.

Established in 1990, Biosensors develops and manufactures drug-coated stents, bare metal stents and delivery systems.

Of the more than 250 employees employed worldwide, some 150 work in Singapore.

The company recently announced at the Singapore Live 2005 cardiology convention, that its Biomatrix drug-coated stent implanted in a local patient last year showed that zero restenosis. This refers to the narrowing of an artery in the heart, especially after angioplasty.

With its patented bio-degradable stent technology, Biosensors clinched a US$20 million (S$32.9 million) licensing deal with a major American cardiovascular medical device firm, Guidant. This was followed by a deal with a Japanese medical technology company, Terumo, for an undisclosed amount.

"This shows that the opportunity for local medical device companies to develop, manufacture and distribute to the global market is enormous, " Dr Balakrishnan said.

He said the size of the market segments Biosensors competes in - critical care and cardiology - will be worth an estimated US$25 billion by 2010.

Mr Lu Yoh Chie, chief executive officer of Biosensors, said the company intended to leverage the expansion of its infrastructure here to expand its business portfolio.

"We are well positioned to reach out to the expanding affluent populations of China and India and tap into their increasing purchasing power and greater demand for high quality health care," he said.

The new facility at Techlink on Kaki Bukit Road occupies about 15,000 sq ft.