Highlights
Selected transactions, corporate milestones, awards and media coverage spanning Asia and the London public markets.
Dotlines Global Limited (LON:DOTL) was admitted to the London Stock Exchange's AIM market following the reverse takeover of Ikigai Ventures Limited (LON:IKIV). The transaction, led by Ikigai's Chief Executive Officer Kane Black, created a UK and Southeast Asia-focused technology group with a market capitalisation of approximately £57.9 million on admission.
London Stock Exchange-listed Ikigai Ventures Limited (LON:IKIV) announced that it had entered into conditional, non-binding Heads of Terms for the proposed acquisition of Dotlines Group and Audra Solutions. The proposed reverse takeover represented a significant step towards bringing a Southeast Asian technology group to London's public markets.
Kane Black was appointed Chief Executive Officer of Ikigai Ventures Limited (LON:IKIV), a London Stock Exchange Main Market-listed acquisition company, bringing more than two decades of experience across Asian technology, healthcare and public markets.
LUXUO profiles Kane Black, then Chief Executive Officer of INEX Innovate, discussing the development of the company's medical technology and diagnostics businesses, its regional expansion and the future of healthcare innovation across Asia.
The Business Times examines INEX Innovate's development of molecular diagnostics for women's health, its clinical laboratory operations and its regional growth strategy, featuring an interview with Chief Executive Officer Kane Black.
Kane Black received Singapore's President's Certificate of Commendation (COVID-19) on behalf of the iGene Laboratory team, recognising its contribution to Singapore's national response to the COVID-19 pandemic.
INEX Innovate announced an agreement to acquire Taiwan-based genomics business Yourgene Health (Taiwan) for consideration of up to S$5.4 million, including milestone-based earnouts. The proposed acquisition formed part of INEX's strategy to expand its molecular diagnostics and laboratory operations across Asia.
INEX Innovate was ranked 17th in Singapore's 2022 Enterprise 50 Awards, jointly organised by The Business Times and KPMG. The awards recognise privately held Singapore companies for their business performance, innovation and entrepreneurial achievement.
Kane Black, then Chief Executive Officer of INEX Innovate, was named EY Entrepreneur Of The Year 2022 Singapore in the Biotechnology category. The award recognised his entrepreneurship and leadership in developing medical technology and molecular diagnostics businesses in Singapore.
INEX Innovate entered the Financial Times and Statista ranking of 500 high-growth companies across Asia-Pacific. The Singapore-based medical technology company was recognised as the seventh-fastest-growing healthcare company in Asia-Pacific and the second-fastest-growing healthcare company in Singapore.
INEX Innovate ranked 29th among Singapore's 75 fastest-growing companies in the 2022 ranking compiled by The Straits Times and Statista. The business recorded revenue growth of 294.6% between 2017 and 2020, representing a compound annual growth rate of approximately 58%.
SME Magazine interviews Kane Black, Chief Executive Officer of INEX Innovate, on his entrepreneurial background, the development of Nova Satra Dx, the US$72 million merger that established INEX Innovate, and the commercialisation of medical diagnostics technologies across Asia.
iGene Laboratory, part of INEX Innovate, donated 25,000 SARS-CoV-2 PCR test kits to Indonesia to support the country's response to the COVID-19 pandemic. The donation was marked by a presentation at the Indonesian Embassy in Singapore, attended by Kane Black, Chief Executive Officer of INEX Innovate and iGene Laboratory, and Indonesia's Ambassador to Singapore, H.E. Suryo Pratomo.
INEX Innovate received the IPOS IP For Innovation Champions award and the WIPO IP Enterprise Trophy as the overall winner of the 2021 WIPO–IPOS IP For Innovation Awards. The recognition acknowledged the company's development and commercialisation of intellectual property in women's health, molecular diagnostics and medical technology.
INEX Innovate was featured in the South China Morning Post's Singapore National Day 2021 special report — a sponsored feature produced in cooperation with Discovery Reports — examining its work in molecular diagnostics, women's health and clinical laboratory services. The feature included comments from Chief Executive Officer Kane Black on the company's technologies, research partnerships and international ambitions.
Nova Satra Dx, co-founded and led by Kane Black, merged with INEX Innovations Exchange in a US$72 million transaction to establish INEX Innovate, a Singapore-based molecular diagnostics and healthcare technology group. The transaction brought together businesses focused on women's health, cancer diagnostics and precision medicine, with institutional backing from Genting Berhad, Enterprise Singapore and SNS Holdings.
Nova Satra Dx, co-founded and led by Kane Black, won the Start-up Excellence Award at the British Chamber of Commerce Singapore's 18th Annual Business Awards. The award recognised the company's achievements in developing innovative molecular diagnostics technologies, particularly non-invasive blood-based cancer detection.
Nova Satra Dx, a Singapore-based molecular diagnostics business co-founded and led by Kane Black, secured US$2 million in investment from Genting Bio Cellular Sdn Bhd, a wholly owned subsidiary of Genting Berhad. The investment supported the development, regulatory approval and commercialisation of the company's non-invasive blood-based cancer diagnostic technologies. Two Genting-nominated directors joined the company's Board following the investment.