Singapore – K&L Gates Straits Law LLC has advised molecular diagnostics and life sciences company Nova Satra DX Pte. Ltd. (NSDX) in relation to their recently concluded merger with INEX Innovations Exchange Pte. Ltd. (INEX), in a transaction valued at US$72 million.
The transaction will result in the restructuring of the INEX group in which NSDX now becomes a part of INEX Innovate, one of Southeast Asia’s largest med-tech specialist companies in cancer research and development.
NSDX CEO Kane Black commented: “We have worked with Nick Hanna and the K&L Gates Straits Law LLC team on a number of occasions and they have consistently proven to be adept at providing practical, commercially orientated solutions which have proven fundamental to ensuring that all legal aspects of the transaction proceeded smoothly.”
Having won the Start-up Excellence award at the Singapore British Chamber of Commerce’s 18th Annual Business Awards, Singapore-based NSDX works in collaboration with global centers of scientific excellence to research, develop and commercialize blood-based tests for cancer.
Shareholders of INEX Innovate include several institutional investors, now among them, Genting Bio Cellular Sdn. Bhd., a wholly owned subsidiary of Genting Berhad, and SEEDS Capital Pte. Ltd., the investment arm of Enterprise Singapore.
Singapore partners Nicholas Hanna and Mark Tan led the K&L Gates Straits Law LLC team on the deal, and were assisted by Singapore associates Lisa Hui and Mayumi Soh.
“The team and I are delighted to have acted for NSDX on this seamless transaction,” stated Hanna. “We have seen the company grow from strength to strength and look forward to continuing to work for the enlarged group.”