3 Monash University health tech startups score $2.25 million in pre-Seed backing, supported by Breakthrough Victoria

Breakthrough Victoria and Monash University have co-invested $2.25 million in three health tech startups, Myostellar, Fyton Bio, and Remagine Labs.

The trio of Monash spinouts have potential to improve wellbeing for millions as well as reducing pressure on Victoria’s health system.

Myostellar is pioneering a first-in-class biologic therapy to treat Duchenne Muscular Dystrophy by stimulating muscle regeneration with minimal fibrosis.

FytonBio is developing next-generation antibody therapies to precisely target and remove disease-causing immune cells in autoimmune conditions.

Remagine Labs is creating wearable, electronically controlled drug delivery devices to improve treatment outcomes for people with chronic conditions.

The backing kicks off the $15 million Monash Ventures Pre-Seed Fund, which is backed by the university to translate research into real-world impact.

Breakthrough Victoria’s co-investment comes from the government-backed fund’s $100 million University Innovation Platform (BVUIP), which supports the commercialisation of critical research  from 7 Victorian universities: Deakin, La Trobe, Melbourne, Monash, Swinburne, RMIT, and Australian Catholic University.

Fyton Bio cofounder and CEO, Chuck Silberstein said the pre-seed investment from the Monash and the BV UIP Pre-Seed Fund, enables them to initiate antibody discovery for theirr first therapeutic program using the GPCR Rare Epitope Antibody Targeting (GREAT), a platform developed by Professor Remy Robert.

“It marks an exciting step forward in our mission to deliver potential functional cures in autoimmunity and inflammation by deleting pathogenic immune cells,” he said.

Breakthrough Victoria CEO Rod Bristow said: “By co-investing with Monash University in companies like Myostellar, Fyton Bio and Remagine Labs, we’re helping to build the next generation of Victorian research commercialisation, improve lives, and deliver long-term economic and social returns for the state,” he said.

The Monash Ventures Pre-Seed Fund ‘s investment committee – featuring representatives Monash University and Breakthrough Victoria, as well as independent members, investor Vafa Shams, and Dr Nadine Brew, a biotech executive and founder of the WILD Program – has met with 13 startups and endorsed 10 for investment, including Myostellar, Fyton Bio, and Remagine Labs.

Deputy Vice Chancellor (Research and Enterprise) Professor Robyn Ward said the fund ensures innovators are supported at one of the most challenging points in their journey – turning ideas into investment-ready ventures.

“By supporting our spinouts with early-stage investment, we are creating pathways for researchers to take their transformative ideas to the market in pursuit of significant impact,” she said.

Breakthrough Victoria has now committed over $480 million to 36 companies and six Funds and facilitated nearly $1.3 billion in co-investment across its portfolio.