Dr Steven Fang’s Inspiring Journey – From Selling His Home to Pioneering Cancer Treatment Testing
Entrepreneurs often invest their life savings into their ventures, but for Dr. Steven Fang, Founder of Invitrocue, that wasn’t enough—he had to put his home on the line.
After putting his 7-figure savings into building his biotech startup, he and his family sacrificed their home to fund vital research for a groundbreaking solution with the potential to impact millions.
Start of a noble journey
Dr Fang’s journey began two decades ago, predating Singapore’s current health-tech boom. Commercializing experimental medical technology, such as stem cell therapy, was then as radical as the concept of an AI doctor. The absence of biotech startups meant a lack of regulatory frameworks and market knowledge, forcing Dr Fang, a scientist-turned-businessman, to navigate the volatile market from scratch.
Drawing on his experiences from Cordlife (established in 2001) and corporate healthcare roles in GSK, Baxter, and Becton Dickinson, Dr Fang founded Invitrocue in 2012 to address the rise in chronic diseases among Singapore’s aging population.
The initial three years were challenging, he said, both mentally and financially. Despite investing his life savings, the company required additional funds for R&D. Faced with a scarcity of investors, Dr Fang and his family sold their home, embracing a frugal lifestyle to keep Invitrocue afloat. He went without a salary, reinvesting all revenue back into the business after paying employees.
Claiming success
Nearly seven years later, Dr Fang’s persistence paid off. Securing multiple contracts, Invitrocue doubled its revenue, achieving positive cash flow this year. Presently, the company holds patents for two groundbreaking products—HiMice and Onco-PDO—leveraging innovative cell scaffolding technology. Onco-PDO, slated for launch in Singapore in Q1 next year, utilizes patients’ cancer cells to test against 12 chemotherapy agents, identifying personalized treatment options.
Over a decade later, Invitrocue has become the leading provider of cutting-edge oncology and bio-analytics solutions across Germany, Spain, Brazil, Australia, China, and Hong Kong. The company focuses on pioneering advanced 3D cell-based models, including Patient-Derived Organoids (PDOs) from various solid cancers. Through the Onco-PDO test, the company conducts in vitro drug screenings on these PDOs, providing oncologists with critical insights to enhance patient therapy direction and personalize treatment. Additionally, their proprietary 3D liver cancer organoid tissue engineering technology, developed in collaboration with A*STAR’s Institute of Bioengineering and Nanotechnology, MIT, and the Genome Institute of Singapore, is making a significant regional impact.
Dr Steven Fang’s remarkable journey exemplifies resilience, determination, and the transformative power of scientific innovation in the biotech industry.
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