Singapore’s largest co-working laboratory space was launched last week by Life Science Incubator (LSI), a Singapore-based operator of shared lab spaces for biotech, medical technology and food technology companies.

The new co-working laboratory space is LSI’s second shared lab in Singapore. The company also operates a 6,500 sq ft co-working lab at The German Centre.

The 20,000 sq ft shared laboratory is on the 10th floor of Elementum, a 12-storey biomedical sciences building developed by Ho Bee Land. Elementum is located at 1 North Buona Vista Link in JTC’s one-north district.

Read also: Elementum – built for the best in biomedical sciences

The new co-working laboratory space caters to start-ups in the biomedical industry who need a fully equipped laboratory to product test or experiment, says Zeïna Henni, director of LSI. She adds that most of these start-ups are small teams of two to five people, who are on the path towards securing seed funding.

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According to Henni, the new co-working laboratory caters to start-ups and global life sciences companies entering the Singapore market in the biomedical industry. These companies require a fully equipped laboratory for product testing or experimentation. She adds that most start-ups consist of small teams of two to five people who are working towards securing funding to support their ongoing research and growth.

Rather than work desks, LSI offers fully fitted-out laboratory benches within a shared open lab room. There are also six private suites for enterprise clients. The co-working space also includes office space areas, shared facilities and service support provided by LSI.

Henni says that most of the start-ups who have signed leases at the new space typically commit to a six-month lease and most usually occupy one or two fitted out laboratory benches. "We work closely with them to determine the most suitable plan, offering flexibility in lease terms," she says.

She believes that it is only a matter of time before independent shared laboratory spaces—already common in Europe and North America—become more prominent in the Asia-Pacific region. “Independent shared lab spaces offer flexibility to companies of all sizes. Even multinational corporations with dedicated research buildings are drawn to co-working labs for their flexibility in filling gaps in their own offering, accommodating smaller projects, or establishing a presence in new markets,” she explains.

But the main demand for co-working labs stems from start-ups, which benefit from a purpose-built laboratory space with access to facilities, while being part of a wider research community, says Henni. She expects LSI’s new co-working lab at Elementum to about 80% occupied by the end of this year.

Last year, life sciences investment firm Altea Investments bought over a 70% stake in LSI for $2.7 million from Acrometa Group. Altea Investments is a pan-Asian (excluding China) investor of real estate asset solutions for the life sciences sector.

According to John Ratcliffe, CIO, Altea Investments, the firm will leverage its regional presence to connect new biomedical companies looking to establish themselves in Singapore with laboratory spaces managed by LSI.

He adds that Altea does not focus on office assets or typical warehouse facilities. “Instead, we aim to provide capital for the critical infrastructure where innovation occurs which in our experience provides strong stable predictable cashflows and superior risk adjusted returns”.

He adds that Singapore and the Asia Pacific region is not burdened by high levels of “speculative development” or oversupply issues that are prevalent in biotech hubs in North America. “High quality laboratory space is still in incredibly short supply in this region,” he says.

The investment firm will support LSI’s maiden entry into the Australian biomedical sector, and Henni says that the company is on track to open a new laboratory facility in Brisbane later this year.

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