Singapore AI Biotech Nanyang Biologics Targets Nasdaq Listing Valued Up to $2.2 B
Nanyang Biologics, a Singapore AI-driven drug-discovery firm, is set to go public on Nasdaq via a SPAC merger that could value it between $1.5 billion and $2.2 billion.
Singapore-based biotech Nanyang Biologics is preparing a Nasdaq debut through a special-purpose acquisition company merger with RF Acquisition Corp II, which would value the firm at $1.5-$2.2 billion pending Nasdaq approval. Co-founder and executive chairman Roland Ong explained that the proceeds will support costly clinical trials for its candidate NB-A002, a potential first-in-class therapy for cancers with homologous recombination deficiency, and fund the expansion of its Vecura AI platform that screens plant-derived molecules.
While the company already earns modest income from health-supplement sales and AI licensing, its high valuation reflects expectations of future drug revenues. Ong noted a resurgence of investor appetite for biotech, boosted by AI advances and recent US policy emphasis on lowering drug prices. The firm originated from Ong’s work in a university herb garden, evolving from traditional-medicine research to an AI-centric drug-discovery model. Success of NB-A002 or widespread adoption of Vecura could generate substantial global revenue, though clinical development carries significant risk.
Why it matters
The Nasdaq listing could channel major US capital into a Singapore AI biotech, speeding up a novel cancer drug’s development and highlighting AI’s impact on pharma.
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