Led · Seed · Jun 2022

Seonix Bio is developing a polygenic risk score (PRS) test that quantifies genetic risk of glaucoma from a blood or saliva sample by analysing thousands of SNPs. The PRS is based on research from Flinders University, QIMR Berghofer Medical Research Institute, SALHN within SA Health, and the University of Tasmania and was published in Nature Genetics. The company aims to enable clinicians to identify and prioritize patients at greatest risk so they can receive informed care sooner and reduce unnecessary investigations and treatments. Seonix Bio plans to deploy the PRS in the clinic and attain NATA accreditation to support clinical use. The company says the test could improve management and treatment of glaucoma patients while reducing health system costs. The Seed-Start grant from the South Australian government will fund these initial clinical rollout and accreditation steps.

Participated · Seed · Apr 2019

Presagen is an Australia-based company specializing in artificial-intelligence-driven medical imaging. The firm’s technology focuses on applying AI to medical images to enhance diagnostic capabilities and clinical decision-making. Presagen is still at an early stage of development, as indicated by its recent seed financing. The A$4.5 million seed round provides the company with fresh capital to advance product development and operational growth. Financial details beyond the seed raise have not been disclosed, and there are no publicly reported operating metrics such as revenue or user numbers in the available coverage. The presence of both private and governmental investors suggests market confidence in Presagen’s potential impact on healthcare imaging.

Led · Equity · Aug 2017

GEN1 Biotechnology is developing a large-scale biopharmaceutical manufacturing facility in Adelaide to produce high-value injectable medicines for Australian and international markets. The factory will make injectable treatments currently imported, including therapies for cancer, hypertension and diabetes. GEN1 has secured a site in Adelaide’s Tonsley Innovation District and says the project could save South Australia up to AUD$70m a year in medication spending. The company plans to raise a total of AUD$160m (USD$126m) over the next three years to complete the build-out. Current backing for the project includes Australian private equity investors, local banks and the South Australian Government’s Health Industries Fund; initial funding came from Asian and European investors. GEN1 cites a domestic injectable market larger than AUD$10 billion with estimated annual growth of 15–20% (IMS Health). The AUD$8m injection announced in 2017 is intended to support delivery of the Adelaide factory.