Speech by 2M Tan See Leng at A*STAR Institute of Molecular and Cell Biology (IMCB)’s 40th Anniversary Gala Dinner

Distinguished guests,

Ladies and gentlemen, 

1.     A very good evening to all of you. It is my great pleasure to join you here at the 40^th Anniversary Gala Dinner of A*STAR’s Institute of Molecular and Cell Biology, or IMCB in short.

2.     Confucius once said “四十而不惑” – by age 40, everyone is expected to be freed from perplexities and will develop that purposeful clarity.

   1.     In a sense, IMCB was mature beyond its age. Since day one, you have always stayed true to your purpose of becoming world-class biomedical research institute and nurturing the next generation of scientific talent.

   2.     I think this is the reason why in your 40^th year, you are already enjoying the fruits of your labour from before. And as we celebrate how far IMCB has come tonight, we also look ahead to what roles you can continue to play in Singapore’s biomedical sciences industry.

3.     IMCB’s journey thus far mirrors the development of our entire biomedical industry.

   1.     Forty years ago, Singapore made its first foray into biomedical sciences, and IMCB was at the heart of this pioneering effort as our first life sciences research institute. We did not have many local scientists in the field then and had to tap the collective expertise of scientific experts and Nobel Laureates from abroad to build the institute from scratch.

   2.     Fast forward to today, IMCB has established for itself a name in the biomedical research community. It has also successfully gone beyond basic research, to also develop homegrown biotech startups, such as Albatroz Therapeutics and BioCheetah, that I just saw both of them outside. They are able to translate research into tangible gains for the industry.

   3.      IMCB’s achievements go hand-in-glove with Singapore’s rise as the region’s biomedical hub. We started off as a nation of technicians, and worked our way up the biomedical value chain. We partnered multinational pharma companies to build capabilities in drug discovery, and created an entire Biopolis precinct to promote R&D and commercial collaborations with local companies. Today, Singapore is a key node across the entire biomedical value chain, and home to more than 60 pharmaceutical and medtech manufacturing plants, with over 500 biomedical startups.

4.     Ladies and gentlemen, we do not take these achievements for granted. I am sure all of you must be engaging in active conversations about the recent “Liberation Day” tariff announcements by the US. This marks a clear turning point in the global economic environment that we have been operating in.

   1.     Even as we speak, developments are still unfolding, as you may have seen from the news this morning. There has been a 90-day pause period applied on the reciprocal tariffs, though countries including Singapore continue to be subject to the 10 percent baseline tariff. The US has signalled it may also subject pharmaceutical imports to tariffs, though there have been no confirmation or details. This is concerning to us as pharmaceutical products are one of our key exports to the US. The existing support measures that we have rolled out in Budget 2025 will tide us through the immediate hump, but business and consumer sentiments are bound to take a hit. Our agencies are already engaging companies to better understand their concerns and explore ways to support them where needed. Two days ago, our Prime Minister announced the formation of a taskforce, and we will do our best to engage all of you, and see how we can collectively address some of the difficulties.

   2.     In the longer-term, what is more worrying is the wider shift towards an increasingly protectionist global order, and the persistent volatilities and uncertainties that come along. We expect to see countries imposing retaliatory tariffs. Trade flows will be disrupted. Investment outlook will be dampened. Sectors which have high export exposure to the US, including the biomedical sciences industry, will be more impacted than others.

5.     Amidst such a climate, it is important that Singapore stays the course, and remain a beacon of growth opportunities for our partners. We will keep our economy open and strengthen our value proposition for businesses and investors.

6.     A*STAR’s research institutes, including IMCB, have an even more crucial role to play in this. In a more contested world, strong fundamental R&D capabilities will become one of the key differentiating factors that tilt investments in our favour. In this regard, IMCB’s key priorities in this new environment will be to pioneer R&D in emerging areas within the biomedical industry and strengthen our local scientific talent pool. Let me elaborate.

Charting research in emerging areas for impact

7.     First, IMCB has to continue venturing into new research areas that are strategic and impactful for Singapore.

8.     One area which IMCB is actively pursuing is the development of disease models integrated with AI. This is an area with great promise. If successful, AI can accelerate drug discovery, allowing new drugs to be more conveniently accessible to the masses, and at a faster pace. Several companies are already venturing into this research space. Hummingbird Bioscience for instance, uses its Rational Antibody discovery platform to identify and advance cancer treatment. Likewise, IMCB is taking steps in targeted areas by leveraging its expertise in cellular models to work with other research institutes, clinical partners, and industry partners to develop an AI-powered target discovery model.

   1.     One such use of AI for drug discovery is for ophthalmological indications, that could potentially identify new therapies for patients with age-related macular degeneration (AMD) who currently do not respond to existing treatments. 

9.     Precision medicine is another fast-emerging domain. It moves away from the one-size-fits-all approach of the past, and tailors treatment based on an individual’s genetics, environment, and lifestyle. IMCB is a fast adopter in this.

   1.     For example, liver cancer is the fifth most common cancer and the second leading cause of cancer-related death in Asia, which accounted for over 70% of the world's cases in 2020. Through precision oncology, IMCB is working with partners such as the National Cancer Centre Singapore (NCCS) to leverage patient data to improve clinical practices and health outcomes for liver cancer patients.

10. Beyond these, there are also new frontiers in healthcare that IMCB is actively pursuing, be it in immuno-cell or stem cell therapy. At the recent MTI COS 2025, I talked about the second phase of the Singapore Cell Therapy Advanced Manufacturing Programme (STAMP 2.0), which IMCB is a key part of. Being constantly engaged with promising research areas is crucial, while keeping a firm eye on future translation and commercialisation of technologies. I am glad that IMCB has steadfastly embodied this strong sense of mission.

Nurturing world-class talent to sustain our leadership in biomedical innovation

11. Second, strengthening our talent pool is particularly crucial at this juncture. Recent political developments and uncertainties in access to research funding have led many global top R&D talents to be on the lookout for more stable and welcoming environment. This presents us with a unique window of opportunity to accelerate the flow of R&D talents into Singapore, as part of ongoing efforts to strengthen our researcher base.

12. While we do so, it is also key that IMCB continues to build a strong base of local scientific talent to drive our next phase of growth. Only in this way, by inviting the best and strengthening our local base can we sustain our efforts beyond the next 40 years. Since its establishment, IMCB has nurtured a vibrant community of scientists for Singapore, training more than 400 PhD students and over 1,000 postdoctoral fellows. Many have gone on to become leaders not just in the R&D field but are also highly valued in the industry. Just last year, three IMCB scientists, who were seconded to industry to help SMEs and startups enhance their products and services through R&D, were awarded the T-Up excellence award at SME Tech Day, for their impactful contributions to Singapore’s deep tech landscape. 

13. With the growing influence of the IMCB fraternity, it is indeed timely that IMCB is launching its Alumni Chapter today. This platform will strengthen professional connections, provide the space for mentorship, and create opportunities for collaboration among IMCB alumni. Beyond these functions, the Alumni Chapter also represents a coming of age for our biomedical research community, where we will be able to galvanise a critical mass of talent and cultivate a virtuous cycle of learning. I look forward to the immense learning opportunities that you will have in this network, and for more outstanding IMCB scientists to make their mark both in Singapore and on the global stage.

Conclusion

14. As we celebrate IMCB’s 40th anniversary tonight, let us honour its remarkable achievements and reaffirm our commitment to advancing biomedical sciences for the betterment of Singapore. I also want to take this opportunity to acknowledge a whole list of pioneers, including some who are seated here with us today. Thank you very much for supporting us through this remarkable journey. I am confident that IMCB will remain a pivotal role in Singapore’s biomedical ecosystem and drive continued progress in the industry for the next 40 years and beyond.

15.  Congratulations once again to IMCB, and happy 40^th birthday. Thank you.