OneBioMed

Market position

An early-stage, Series A-stage company in the molecular diagnostics and medical device sector, closely tied to Singapore's A*STAR research ecosystem. Financial disclosures show sustained operating losses (net losses ranging from about USD 0.4 million to USD 2.7 million per fiscal year between FY2016 and FY2020) and minimal revenue, indicating a pre-scale commercial position.

Combines semiconductor silicon photonics, chemistry and biology to deliver multiplexed infectious disease detection at point of care, claiming a 20-minute turnaround for up to 20 pathogens at costs comparable to a single central-laboratory molecular test. The extraction platform's patented reversible-crosslinking chemistry is presented as enabling a fully walk-away, automated workflow.

Technology

Two platform technologies: (1) an automated solid-phase nucleic acid extraction and purification system using a patented reversible-crosslinking chemistry for selective capture and release of DNA/RNA, commercialised as the Xceler8 Solution; and (2) silicon photonics-based biosensing for multiplexed infectious disease detection. The point-of-care product combines A*STAR IME's lab-on-a-chip technology — which compresses multiple test steps into a single cartridge smaller than a smartphone — with One BioMed's silicon biophotonics and purification platforms, integrating semiconductor silicon photonics, chemistry and biology.

Go-to-market

Direct sales of the Xceler8 Solution to research and clinical laboratories, supported by joint laboratory partnerships with A*STAR institutes for assay development and pilot production. Preqin describes marketing of the Xceler8 platform in North America, Europe and Asia, and states that Series A proceeds were intended to fund new product development, increased production capability and expanded marketing, with further penetration in Asia and Europe planned by 2023.

Biomedical researchers, clinical laboratories, research institutions and hospitals; for the point-of-care platform, clinics and hospitals requiring rapid infectious disease diagnosis, with emphasis on pediatric respiratory disease and tuberculosis in Asia.

Geography

Headquartered in Singapore, with joint lab facilities in the one-north district. Products are described as marketed to institutions in North America, Europe and Asia.

History

Founded in 2015 in Singapore. In January 2017 the company launched its first joint laboratory with A*STAR's Genome Institute of Singapore to develop molecular diagnostic assays for the Asian clinical infectious disease testing market. On 29 November 2018 it launched a second joint lab, a S$9 million facility with A*STAR's Institute of Microelectronics located in one-north, occupying 1,500 square feet and scheduled to be fully operational by March 2019, with the goal of releasing a point-of-care diagnostic kit capable of testing for up to 20 infectious diseases in 20 minutes within five years. As of the 2018 announcement, the company had secured S$1.75 million in funding in addition to S$7.5 million invested in the underlying technology development. Preqin records a Series A round in October 2021 and reports that four deals had been completed by that date.

Risks & controversies

Reported financials show persistent operating losses and negligible revenue (USD 13,805.50 in 2022 against EBITDA of -USD 2.63 million), pointing to dependence on external funding. Sources also differ in granularity: Preqin's financial table shows no revenue figures for FY2016-FY2023 while its narrative cites a 2022 revenue figure, and disclosed funding amounts are small and incomplete.