East Ventures Again Leads Series A Funding for Biotech Startup Nusantics

Startups Biotech Nusantics announced a series A funding with an undisclosed amount led by East Ventures. Less than a year ago, East Ventures took the lead early stage funding for this startup led by Sharlini Eriza Putri.

East Ventures is interested in reinvesting, because the startup has managed to grow due to their readiness to respond to disruptions caused by the Covid-19 pandemic. Nusantics leveraged its capabilities in microbiome research to develop two generations of test kits (testing kit) PCR-based Covid-19 with high sensitivity and specificity.

The test equipment is able to detect various mutations of the Corona virus in Indonesia, including the viral strain that recently became an epidemic in the UK. The first generation test kits have been distributed to 19 provinces as part of the Indonesia PASTI BISA movement in collaboration with the Agency for the Assessment and Application of Technology (BPPT).

The company also partnered with Bio Farma in the development of a second generation test kit that cuts the test diagnosis process to three times as fast. It is claimed that this test kit has proven to be still relevant to the latest virus mutations that have detected an outbreak in the UK.

Bio Farma has produced and marketed the second generation of the test equipment with a production capacity of 1,5 million testing kit per month which can be increased up to 3 million testing kit per month.

In an official statement, Nusantics will use the series A funds to strengthen research and development capabilities so that they can continue to innovate in the fields of microbiome analysis and medical diagnostic tools. Currently the company is developing testing kit Third-generation Covid-19 PCR designed to detect the SARS-CoV-2 virus in saliva samples.

“We plan to develop a new product, namely testing kit which can detect the virus through saliva samples. The use of saliva increases efficiency, the level of safety of medical personnel, and makes the sampling process more comfortable," said CTO Nusantics Revata Utama, Thursday (7/1).

According to Revata, this test method also allows detection of potential transmission because it can distinguish which sample is more infectious (infectious). In addition, he will continue to optimize so that testing kit which has been produced so far can be used in all types of PCR machines in Indonesia. The company cooperates with several companies on research and development projects related to the microbiome.

Nusantics CEO Sharlini Eriza Putri added, "Our short-term focus will be on participating in pandemic response efforts, while our mid-term focus will be on building public understanding of the interrelationships between microbiome diversity and health.

“We want to contribute in finding solutions to the impact of the Anthropocene (human impact on the environment), by utilizing the biodiversity index related to the microbiome. It's a challenging journey, but exciting," he said.

Previously, in the initial funding round announced last year, Nusantic has inaugurated the Nusantics Hub in Jakarta, the first microbiome laboratory in Indonesia to provide testing and consulting services for the treatment of skin microbiome balance.

On the same occasion, Nusantics also announced Triawan Munaf as a member of the Board of Commissioners at Nusantics. Triawan also serves as Venture Advisor at East Ventures.

“Young people in Indonesia must continue to innovate in the field of biotechnology in the country and collaborate with other stakeholders, including the government, in order to increase local resilience. Nusantics, have shown the spirit of collaboration and I am very happy to be a part of their journey,” said Triawan.

Responding to Triawan, Sharlini said, “We are proud to have someone like Pak Triawan who is visionary, has a broad cultural understanding, and never stops looking for solutions that benefit all parties. Of course, we will learn a lot from him," he concluded.