Chugai allots S$200 million for Singapore R&D research

New investment will be spent over five years to develop innovative drugs "to serve unmet medical needs".

Minister Lim Hng Kiang confirmed the fresh funds in a speech marking the opening of Chugai's Singapore R&D research centre, Singapore’s first corporate laboratory in the area of antibody engineering, .

"Following Chugai’s first research centre in Singapore, Chugai Pharmabody Research will build on Chugai’s existing R&D success by focusing on antibody research. In this regard, I am heartened to note that Chugai will be investing close to S$200 million over the next five years to developing and making innovative drugs at the facility to serve unmet medical needs," the minister said.

"We therefore welcome Chugai Pharmabody Research to form new partnerships within the clinical and research community here and leverage our diverse R&D talent, capabilities and expertise to translate research into quality healthcare solutions," he added.

The minister said that the government for its part, is keen on investing in biomedical sciences research to attract more companies like Chugai to undertake cutting-edge work in Singapore.

"Between year 2011 and 2015, we will invest $3.7 billion in biomedical sciences research. This is a 12 per cent increase from the preceding five years. Our investments will help pave the way for the biomedical research community in Singapore to engage meaningfully in industry-relevant research collaborations. In addition, it will enable them to stay at the forefront of science," he said.