- Diagnos, an Indonesian lab chain, to acquire 98% of DNA testing firm Asa Ren for $24M.
- Asa Ren recently raised $8.2M for drug discovery and personalized therapies.
- The acquisition solidifies Diagnos’ position in Indonesia’s growing biotech sector.
In a significant milestone for Indonesia’s burgeoning biotech sector, listed laboratory chain PT Diagnos Laboratorium Utama has announced plans to acquire a nearly 98% stake in Asa Ren, a Singapore-incorporated DNA testing company operating in Indonesia, for a whopping $24 million.
Diversifying with digital biobanking
Founded in 2016, Asa Ren is a digital biobank enterprise boasting the world’s most diverse genomic datasets, encompassing Indonesia’s rich ethnic tapestry. The acquisition aligns with Diagnos’ strategic expansion into genomics and personalized therapies.
Asa Ren recently raised $8.2 million in seed funding from investors like Kejora Capital, Northstar Ventures, and Diagnos itself.
The fresh capital injection positions the biotech startup for accelerated growth in drug discovery, outbreak forecasting, and optimized therapies.
Building a biotech powerhouse
The acquisition solidifies Diagnos’ foothold in Indonesia’s biotech landscape, complementing its existing genomics lab, home care services, and nationwide network of six locations across five cities.
With a market capitalization of $27.5 million, the lab chain is poised to catalyze the country’s biotech revolution.
To read the original article: https://www.techinasia.com/diagnos-acquires-dna-firm-asa-ren-with-24m-move
