R&D, science
Funding

Medtech startups can score up to $5 million from a new incubator fund

- March 20, 2023 2 MIN READ

A new medical technology incubator program developed by the Medical Research Future Fund (MRFF) during the former Coalition government will offer up to $5 million in funding for early-stage medical research projects with commercial potential. The $50 million BioMedtech Incubator program is being backed by the MRFF and the Medical Research Commercialisation Initiative. Responsibility for… Read more »

23Strands Genome sequencing
Other tech

Healthtech startup 23Strands is taking genomics mainstream to transform medicine

- February 6, 2023 2 MIN READ

Biotech startup 23Strands is planning to take genomics into mainstream healthcare through its cutting-edge research and innovations in bioinformatics, scientific literature analysis, and clinical insights based on whole genome sequencing (WGS). A human body contains around 3 billion pairs of genes. But the function of every gene is still not known. Genome sequencing links genes… Read more »

Ferronova CEO Stewart Bartlett
Funding

South Australian biotech startup Ferronova banks $11 million to tackle cancer treatment

- January 23, 2023 2 MIN READ

Adelaide biotech company Ferronova has raised $8 million from investors topped up with a $3 million research grant from the federal government for its nanoparticle platform to help surgeons to locate and remove malignant cells in stomach and brain cancers. Irish healthtech venture Renew Pharmaceuticals led the raise, supported by existing backers Uniseed and Artesian… Read more »

Funding

Rapid blood infection detection scale-up Microbio banks $3.5 million

- December 8, 2022 2 MIN READ

Queensland biotechnology scale-up Microbio has raised $3.5 million as it looks to roll out its rapid bloodstream infection tests across international markets. Microbio CEO Paul Carboon said existing and new investors, including eminent scientist and Gardasil co-inventor Professor Ian Frazer, had shown strong support for the biotech as it gains regulatory approval in multiple countries… Read more »

Climate Tech

Why waiting for biotech to solve climate change problems could make things worse for the environment, rather than better

- November 29, 2022 3 MIN READ

The world is under growing pressure to find sustainable options to cut emissions or lessen the impacts of climate change. Technology entrepreneurs from around the globe claim to have the solutions – not just yet, but soon. The biotech sector in particular is now using climate change as an urgent argument for more government funding,… Read more »

ASX

Pharma giant Pfizer wins over telehealth startup ResApp Health with $179 million takeover

- September 28, 2022 2 MIN READ

The battle for ASX-listed  ResApp Health Ltd is over with pharmaceutical giant Pfizer acquiring the telehealth startup for $179 million. The deal went through this week, having started back in April this year when Pfizer initially offered $100 million – 11.5 cents a share – before increasing its bid to 20.8 cents. Shareholders approved the… Read more »

Business

The Australian arm of Queensland biotech Ellume Health has been placed in voluntary administration

- September 2, 2022 2 MIN READ

Queensland biotech startup Ellume Health, which last year won a $300 million US government contract to supply Covid home testing kits, has placed its Australian business in voluntary administration. FTI Consulting were appointed as administrators of Ellume Ltd on Thursday. In a statement from FTI, administrators John Park and Joanne Dunn said Ellume’s directors appointed… Read more »

Venture Capital

Twiggy Forrest is backing biotech with a new $250 million VC fund

- August 15, 2022 2 MIN READ

WA mining billionaire Andrew Forrest has turned his investment attention to the health tech sector, with a new $250 million venture capital fund. The VC, Tenmile, is being backed by Tattarang, the Fortescue Metal Group founder’s private investment company. Tenmile will target startups focused on unmet medical needs that support sustainable and equitable healthcare, offering seed… Read more »

Funding

Biotech startup using funnel-web spider venom to treat heart attacks raises $23 million

- July 4, 2022 2 MIN READ

Brisbane startup Infensa Bioscience has raised $23 million to develop a potentially life-saving treatment using deadly spider venom to prevent the damage caused by heart attacks and stroke. The biotech venture, spun out of University of Queensland, uses a molecule in the venom of the K’gari (Fraser Island) funnel-web spider, as the possible drug solution,… Read more »

Inventia
Funding

Super fund HESTA reveals landmark $4.4 million investment in biotech startup Inventia Life Science

- June 2, 2022 2 MIN READ

Healthcare superannuation fund HESTA has revealed that it chipped in $4.4 million to a $35 million Series B for Sydney biotech startup Inventia Life Science. The deal marks the first direct investment made by a super fund into an early-stage startup. The industry has previously tipped their cash into venture capital funds, with the VCs… Read more »

Funding

Biotech startup Ankere Therapeutics lands $10 million Seed round to tackle lung diseases

- May 3, 2022 2 MIN READ

Biotech startup Ankere Therapeutics has raised $10 million in Seed capital to develop new therapies targeting inflammatory diseases, especially in the lungs. The funding round was co-led by IP Group and Brandon Capital, through Brandon BioCatalyst, and will support the company through its pre-clinical development and into clinical trials. Ankere, which has operations in both… Read more »