SINGAPORE, Sept. 09, 2025 — Cuprina Holdings (Cayman) Limited (Nasdaq: CUPR) (“Cuprina” or “the Company”), a biomedical and biotechnology firm focused on developing and commercializing products for chronic wound and infertility management, as well as cosmeceuticals for the health and beauty sector, today announced it has obtained exclusive licensing rights for Southeast Asia’s inaugural medical waste recycling technology. This technology was developed under the guidance of the United Nations Industrial Development Organization (UNIDO) and the Global Environment Facility (GEF), a key alliance supporting developing nations in achieving global environmental benefits.
The license agreement, executed between Cuprina and China-based Zhejiang Heliang Technology Co., Ltd., encompasses Singapore and includes an option for expansion into ten additional Southeast Asian countries.
In contrast to current medical waste technologies that incinerate waste and dispose of its ash in landfills—a process that emits toxic substances and burdens Singapore’s already limited landfill capacity—this new technology utilizes advanced high-temperature steam treatment to sterilize and decontaminate medical waste, particularly plastic-based materials. Once purified, these materials are sorted and transformed into high-value resins, becoming sustainable raw materials that re-enter the economic cycle.
The technology has been validated over two decades through collaborative efforts involving Chinese authorities, UNIDO, and GEF, alongside achieving ISO certifications (9001, 14001, 45001) and extensive regulatory approvals.
Cuprina intends to apply for the necessary operating licenses in Singapore to establish a facility for this new technology. The company is also engaging with the nation’s leading toxic waste disposal companies to seamlessly integrate these processes into the national waste management framework.
By positioning Singapore as the primary hub for this technology outside of China, Cuprina aims to seize significant growth opportunities across Southeast Asia, a region where many governments are strengthening environmental standards.
In Singapore, biohazardous medical waste increased from 4,400 tons in 2016 to 5,700 tons in 2020, reflecting an average annual rise of approximately 5%. This increase is driven by greater healthcare demand and more stringent infection control measures (MOH Singapore).
According to a recent study by Grand View Research, the global medical waste management market was valued at USD 34.06 billion in 2023 and is projected to reach USD 59.42 billion by 2030, growing at an 8% annual rate, with Asia-Pacific emerging as the fastest-growing global region.
“This initiative is more than just about new equipment; it’s about introducing a globally validated technology that has been refined, certified, and proven over two decades,” stated Cuprina CEO David Quek Yong Qi. “By securing exclusive rights for Southeast Asia, Cuprina anticipates leading the transition from incineration and landfill to a new paradigm that protects public health, safeguards the environment, and generates long-term value for our shareholders.”
About Cuprina Holdings (Cayman) Limited
We are a Singapore-based biomedical and biotechnology company dedicated to the development and commercialization of innovative products for the management of chronic wounds, as well as operating in the health and beauty sectors. Our expertise in biomedical research allows us to identify and utilize materials derived from natural sources to develop wound care products in the form of medical devices which meet international standards.
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