Mirxes diagnosed with swelling revenue and losses ahead of IPO

More: VinFast enters the EV race in the Philippines and Amazon Web Services plans to double its investment in cloud infrastructure in Singapore. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [Mirxes sees revenue and losses increase as IPO approaches]( - VinFast expanding to the Philippines - Other newsy highlights such as AWS doubling down on its cloud investment in Singapore --------------------------------------------------------------- Hello {NAME} Sticking to your guns is hard at the best of times, but it must be even harder when you’re in a leadership position at a loss-making company. Today’s featured story looks at Singaporean biotech firm Mirxes, which has released some mixed financial results ahead of a looming IPO in Hong Kong. Despite seeing its losses swell to more than US$70 million, the company recently took out loans worth a total of over US$27 million in a bid to speed its path to going public. From the outside, that may not add up, but those inside the company are likely confident that they have the right approach. Time will tell, but regardless, conviction like that is worth taking notice of. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Mirxes records $70.4m losses and $24.2m revenue in lead up to HK listing]( The Singapore-based biotech company attributed the higher losses to larger R&D spending, which grew 22.3% year on year. --------------------------------------------------------------- TRENDING NEWS [VinFast to enter Philippine EV race this month]( This follows a January 2024 meeting between Philippine President Ferdinand Marcos Jr. and VinFast CEO Pham Nhat Vuong. 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