21 Jan 2019

Subscription of shares in Celligenics Pte. Ltd.

Partner Chia Kim Huat, Senior Associate James Chan and Associate Tiong Ai Wee acted for Singapore-listed Best World International Limited ("Best World") in the subscription of a 12.5% stake in Celligenics Pte. Ltd. ("Celligenics") by a subsidiary of Best World. The deal features a two phase investment structure under which Best World may increase its shareholding to 15% on a fully-diluted basis after 18 months. Celligenics is a biomedical A*STAR spin-off start-up company in the early stages of research and development in the area of stem cells and has research and development collaborations with a scientific institution and institute of higher learning in Singapore.