Pursuant to the Group’s sustainable growth strategies in investing in disruptive technologies which are synergistic with its capabilities, the Zicom Group (ZGL) has made an acquisition in Curiox Biosystems Pte Ltd. The total investments will amount to S$3.2m. The Group’s shareholdings in the enlarged capital of Curiox will be 41.42%. All these investments are made in cash and will be funded entirely from internal resources. Curiox spun off as a start company from A*Star (Agency for Science, Technology and Research) a Singapore government’s statutory board, by a group of scientists to commercialise their DropArrayTM technologies two years ago.
The DropArrayTM methodology represents a disruptive technology in drug discovery and testing. Curiox partners the Group’s precision engineering subsidiary Sys-Mac Automation Engineering Pte Ltd, an ISO13485 accredited company, to manufacture its patent-pending DropArrayTM washing machine and to co-engineer future developments. Advance Beta tests of Curiox’s DropArrayTM technology have been planned with world renowned pharmaceutical and biotech companies in USA in early 2011.