East Ventures Leads Series A Funding for Biotech Startup Nusantics

Nusantics biotech startup announced series A funding led by East Ventures with an undisclosed value. Less than a year ago, East Ventures took the lead in seed funding for this startup managed by Sharlini Eriza Putri.

East Ventures decided to reinvest because these startups have managed to grow due to their fast response to the disruption caused by the Covid-19 pandemic. Nusantics utilizes its capabilities in microbiome research to develop two generations of PCR-based Covid-19 test kits with high levels of sensitivity and specificity.

The test kit is capable to detect various mutations of the Coronavirus in Indonesia, including a virus 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 is also partnering with Bio Farma in the development of a second-generation test kit that cuts the diagnostic test process three times faster. It is claimed that this test is 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 test kits with a production capacity of test kits per month which can be increased to 3 million test kits per month.

In an official statement, Nusantics will use the series A fund to strengthen their research and development capabilities to continue innovations in the field of microbiome analysis and medical diagnostic tools. The company is currently developing a third-generation Covid-19 PCR test kit designed to detect the SARS-CoV-2 virus in saliva samples.

"We are planning to develop a new product, a test kit that can detect viruses through saliva samples. The use of saliva increases the efficiency, safety level of medical personnel, and makes the sampling process more comfortable,” Nusantics' CTO Revata Utama said, Thursday (7/1).

According to Revata, this test method also allows the detection of potential transmission because it can distinguish which samples are more infectious. In addition, they will continue to optimize for the test kits that have been produced can be used in all types of PCR machines in Indonesia. The company is working with several companies on research and development projects related to the microbiome.

Nusantics' CEO, Sharlini Eriza Putri mentioned that their short-term focus is to participate in efforts to combat the pandemic, while the medium-term focus is to shape understanding in the public about the relationship between microbiome diversity and health.

"We want to contribute to finding solutions to the impact of the Anthropocene (human impact on the environment), by utilizing the biodiversity index associated with the microbiome. This is a challenging journey, but exciting," she said.

Previously, in the last year's seed funding round announcement, Nusantic had officially launched 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.

"Indonesian youth must continue to innovate in the field of biotechnology domestically and collaborate with other stakeholders, including the government, in order to increase local resilience. Nusantics, has shown this spirit of collaboration and I am very happy to be part of their journey,” Triawan said.

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

–Original article is in Indonesian, translated by Kristin Siagian