Barramundi Asia to acquire deep tech startup Allegro Aqua

Singapore

SINGAPORE-BASED Barramundi Asia, which operates the largest barramundi farms in Singapore and Australia, is acquiring deep tech startup Allegro Aqua as it hones in on the study of fish genetics to boost production.

Allegro Aqua, a startup by scientists from the Temasek Life Sciences Laboratory (TLL), will be 100 per cent owned by Barramundi Asia in a cash and share swap transaction, Barramundi CEO Andreas von Scholten told The Business Times. He declined to reveal the deal value.

Allegro Aqua was established in mid-2018 with pre-seed funding from Temasek Life Sciences Accelerator (TLA). The Temasek Life Sciences Group, which consists of TLL, TLA and The Lifesciences Innovation Fund, is Allegro Aqua's majority shareholder. TLA is a joint venture between TLL, a non-profit philanthropic research organisation, and Temasek Holdings' venture capital arm Vertex H…