Melbourne biotech startup Cartherics has raised $15 million as it looks to begin trials of its cell therapy product for ovarian cancer. Cartherics, founded in 2015 by Alan Trounson, Bob Moses, and doctors Richard Boyd, Ian Nisbet and Peter Hudson, is developing immune cell therapies to treat cancer and other diseases. The startup previously raised $26… Read more »
Nick Hazell, the engineer and serial entrepreneur who turned v2food into a major force in plant-based meat, is back with a new plant-based idea to grow algae as a replacement for fossil fuels and plastics. His latest venture, Algenie, has raised $1.1 million in pre-seed funding from the University of Technology Sydney (UTS), Better Bite Ventures,… Read more »
Victoria’s Walter & Eliza Hall Institute (WEHI) for medical research as built a $66 million venture capital war chest to back medtech startups over the next decade, turning the institute’s work into commercial biotech companies. The strategic investment fund, 66ten, managed by WEHI Ventures, will back pre-Seed and Seed rounds in the hope of bridging… Read more »
Brisbane biotech Gelomics will represent Australia in KPMG’s Global Tech Innovator challenge after winning the local pitch competition. The startup, which grows human tissue in a petri dish for drug testing as an alternative to animal testing in pharmaceutical drug development, was selected from among five high-powered finalists chosen from 155 entries. The annual KPMG… Read more »
Biomedical technology incubator Proto Axiom has raised $20 million in the first close of a planned $30m Series B. The company did not name its latest backers, who join the likes of Catalio, Parkview International, Churchill Asset Management and HOF Capital, who invested in a $15m Series A in September 2022.’ Proto Axiom set out… Read more »
A Sydney biotechnology startup tackling behavioural and psychological symptoms in illnesses such as dementia and substance abuse has raised $14.5m in a Series B. The raise for Kinoxis Therapeutics, cofounded by researchers from the chemistry and psychology faculties at Sydney University, was backed by pioneering venture fund Uniseed, UniSuper, the university, Stoic VC, and US-based Avicella… Read more »
A Brisbane biotech startup eliminating the need for animal testing in pharmaceutical drug development has raised $2.2 million in pre-Seed funding. The round for Gelomics was led by Andrea Gardiner’s Sydney VC Jelix Ventures, alongside the Queensland Investment Corporation (QIC) Enterprise Acceleration Fund and Angelloop. The cash injection is expected create more than 70 highly-skilled… Read more »
The Advanced Robotics for Manufacturing (ARM) Hub and MTPConnect have teamed up to launch the Biomedical AI Sprints Accelerator (BASA) so biomedical startup can harness the power of data and artificial intelligence (AI). BASA will offer $25,000-50,000 in matched funding and upskill high-growth startup teams in using AI and data analytics, giving them access to… Read more »
Sydney biotech startup Psyslo has banked a fresh Seed round worth US$8 million (A$12m) as it relocates to the US. It’s Psylo’s second major Seed round, having previously banked a A$5 million Seed raise in late 2022 on top of an initial $1.1m 12 months earlier as the company emerged from Startmate. The latest round… Read more »
New Zealand agritech startup Metrovate has raised NZ$1 million (A$920k) to develop its precision plant growth “biostimulant”. The investment was made by early-stage accelerator and commercialisation firm Sprout Agritech with support from its investment partners, US-based Finistere Ventures, Kiwi dairy giant Fonterra and venture builder OurCrowd, as well as the Te Pokapū Auaha Callaghan Innovation’s… Read more »
Startups in Western Australia looking to address biodiversity and the environment will get a helping hand thanks to a $7.2 million grant from the state government. The global tech investor and accelerator Founders Factory is setting up shop in Perth, as its first Australian base, with the funding. The WA government’s investment of $2.4 million… Read more »
Melbourne biotech startup Prota Therapeutics has raised US$21 million (A$32m) ahead of a Phase 3 clinical trial for its oral therapy treatment for peanut allergy. The round, a combination of equity and debt financing, was led by Singapore-based SPRIM Global Investments (SGI). Australian VC OneVentures was an early backer of the biotech and one of… Read more »
Researchers and clinicians with startup ideas in the medtech and biotech space can apply for a new startup accelerator that’s writing cheques worth up to $5 million to bring their ideas to market CUREator+ is a new $50 million incubator program by Brandon BioCatalyst and ANDHealth, backed by the federal government’s Medical Research Future Fund… Read more »
Pioneering a more ethical approach to clinical trials on animals and humans, Brisbane-based biotech startup Gelomics is having a life-changing impact in more than 21 countries. Being a part of Trade & Investment Queensland’s Go Global Export Program has been instrumental to their exporting success. When we hear about clinical trials, it’s often about the results of… Read more »
Deep tech incubator Cicada Innovations has been appointed by the NSW government to run a new biomedical incubator at the Westmead Health and Innovation District, 26km west of Sydney’s CBD. Cicada was awarded a $7.8 million grant to help health and medtech startups to develop their research into lifesaving technologies at the Westmead Biomedical Incubator.… Read more »
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