K&L Gates Advises Nova Satra DX Pte Ltd on US$2 Million Investment by Malaysian Conglomerate Genting
12 April 2017
Michael J Rick
– Global law firm
K&L Gates LLP
has advised molecular diagnostics and life sciences company Nova Satra DX Pte Ltd (“NSDX”) in relation to a US$2 million investment and acquisition of a minority stake in the company by Malaysian conglomerate Genting Group.
Singapore-based NSDX works in collaboration with global centers of scientific excellence to research, develop and commercialize blood-based tests for cancer. The deal sees Genting Group acquiring an equity stake in NSDX, with the funds raised to be used for working capital, research & development and commercialization purposes.
Singapore partner Nicholas Hanna led the K&L Gates team on the deal, and was assisted by Singapore associate Mark Tan.
“We are delighted to have advised Nova Strata on their milestone achievement and fund raise,” commented Nicholas Hanna. “We are seeing more transactions in the life sciences and med-tech space than ever before. Notable investors are looking closely at this sector with the aim of getting in early to fund young companies who can commercialize their product quickly.”
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