A win for SEA-based biotech startups! Asa Ren, an Indonesia-founded startup, is set to be acquired by Diagnos for $24M.

• They’ll acquire a 98% in Asa Ren, and the deal will be a mix of cash (10%) and stock (90%).

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👋🏼 Who’s Asa Ren?

Founded in 2016, Asa Ren claims to be the world’s most diverse biobank, including biological samples of Indonesia’s many ethnicities.

• They’re here to speed up drug discovery, forecast infectious outbreaks, and optimize personalized therapies.

• They last raised an $8.1M seed in 2023.

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👩🏻‍💻More than just a database

Here’s how they do it:

• DNA tests. They have multiple DNA tests for adults and children like 360 DNA, Asa Ancestry, and Asa Prodigy.
• OneAsa. This longevity initiative is a commercially-available, AI-ready clinico-genomic database that helps clinicians and healthcare researchers improve and speed up decisions.

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🤑 Why the buy?

The buyer, Diagnos is a laboratory chain listed on Indonesia’s stock exchange. They’re buying Asa Ren to bring new business opportunities for the company and strengthen their position in the healthcare industry.