Entrepreneur sells his home to fund biotech start-up

He regards decision as investing in a vision that could benefit many lives in the future

- Sue-Ann Tan

The costs of running a business can be high, but for one entrepreneur, the impact is up close and personal.

Dr Steven Fang, 57, sold his house to fund his biotech start-up Invitrocue.

The company was founded in 2012 to commercialise proprietary 3D cancer cell culture technology developed by institutions such as the Agency for Science, Technology And Research's Institute of Bioengineering and Nanotechnology in Singapore, Massachusetts Institute of Technology in the US and the Genome Institute of Singapore.

These technologies support the treatment of a range of cancers.

Invitrocue now has operations in Australia, Brazil, China, Germany, Hong Kong and Spain.

But to reach this point of success, Dr Fang had to dig deep to ensure his business would even take off.

"The decision process involved deep introspection and grappling with the challenges of the biotech industry. It was not just a business move; it was a life-altering choice that required me to sit down with my wife and re-evaluate our priorities, to commit to a cause beyond myself," he said.

Dr Fang is married to a housewife and they have three daughters. Home is a rented landed property.

He added: "Sharing this decision with my family carried emotional weight. It did not only mean that we had to sell our home, we also had to look at adopting a more frugal lifestyle - downgrading our home.