SINGAPORE, May 26, 2021 – Esco Lifesciences (“Esco”, the “Company”) announced today the close of an over-subscribed US$200 million Series A and Crossover round. The financing was led by Vivo Capital and Novo Holdings A/S, with participation from China Investment Corporation, EDBI, and other sophisticated investors.

XQ Lin, Chairman and CEO of Esco Lifesciences, commented, “We are pleased to welcome these truly global top-tier life sciences investors from the US, Europe, China, and Singapore. This is a significant milestone for the Company as we embark on our Esco 3.0 transformation, which primarily involves strategic bolt-on M&A and expedited expansion in China, our priority market, to maintain the strong revenue growth we have achieved over the last decade. This financing will enable the creation of an innovation hub in Boston, focused on cell and gene therapy tools and technologies. We will increase our R&D and in-licensing efforts to develop and commercialise enabling novel life science research tools in emerging domains, thus enabling fundamental scientific discoveries and, ultimately, the diagnostics and medicines of tomorrow.”

Esco Lifesciences, a leading provider of life sciences tools and services, is poised to benefit from the sustained growth of the healthcare and biopharma industries in Asia and globally. Esco has achieved market leadership in China, and globally, in multiple categories within some of the fastest-growing segments—with China being its largest and fastest growing market. As a Singapore-headquartered company, Esco bridges technologies, products and talent across the US, Europe and Asia.

Shan Fu, Managing Partner and CEO of Greater China for Vivo Capital, and incoming Esco board member, commented, “Vivo Capital has been deeply impressed with the management team’s energy, execution capabilities, and global vision. We are thrilled to lead this private investment in Esco alongside top-tier institutional investors. The consortium will leverage our healthcare sector resources to accelerate Esco's next phase of growth, supporting business development and increasing investments in R&D and technology.”

Kasim Kutay, CEO of Novo Holdings, said, “As a long-term life sciences investor, Novo Holdings is delighted to partner with Esco. The growth opportunities are significant and we look forward to applying our patient capital and expertise to realise the Company’s strategy.” Amit Kakar, Senior Partner, Head of Novo Holdings Asia, added, “Our Singapore office opening this year and investment in Esco mark a milestone in our regional ambitions.”

About Esco Lifesciences
Esco Lifesciences provides enabling technologies, products and services to life sciences and healthcare, supporting research, clinical practice, and biopharma R&D and manufacturing. Headquartered in Singapore, Esco has a sales network in 100+ countries, direct offices in 20+ countries, eight manufacturing and R&D hubs, and 1,300+ employees.

About Vivo Capital
Founded in 1996, Vivo Capital is a global healthcare investment firm with US$5.8 billion AUM and investments in 290+ companies. Headquartered in Palo Alto, it invests in biotechnology, pharmaceuticals, medical devices, and healthcare services.

About Novo Holdings
Novo Holdings is a leading life science investor providing venture capital and managing diversified financial assets. For more information: https://www.novoholdings.dk/

CONTACT:
Kenny Chee +65-9697-8940
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