Queensland biotech firms talk shop with overseas investors
Published Thursday, 18 October, 2007 at 12:13 PM
Minister for Tourism, Regional Development and Industry
The Honourable Desley Boyle
Prominent overseas venture capitalists looking for the next big thing in the biotech market will see what Queensland has to offer at a special investor forum in Brisbane today (Friday 19 October).
Minister for Regional Development and Industry Desley Boyle said investors from around the world are attending the Queensland International Investor Summit in the lead up to AusBiotech 2007 which starts in Brisbane on Sunday.
“The one-day Investor Summit brings together leading global venture capitalists, angel investors and life science firms as well as finance and investment professionals.
“This includes Rob Ayling, Managing Director of US-based life sciences venture Finistere Partners, LLC. The firm invests in medical devices, diagnostics and agricultural biotechnologies in the US and Australasia,” she said.
“Also visiting from the US is Bryant Fong, from Burrill & Company, a prominent San Francisco based life sciences venture capital firm with more than $900 million under management.
“These and other leading investors have the chance to meet some of Queensland’s brightest biotechnology and medical device companies who, while they have outstanding products and services, need to attract capital to grow,” Ms Boyle said.
Queensland Chief Scientist Peter Andrews, who will open the Summit, said the State’s biotechnology landscape boasted 90 companies employing around 5,000 people.
“When it comes to private sector capital, most investors look for technology in the later stages of development because these are often deemed less risky.
“This is a big obstacle to the growth of emerging biotech industries world wide, and particularly early stage companies.
“The Investor Summit will help young firms strengthen their bargaining position and forge better relationships with international investors. It will open new doors for Smart State companies working on world-class biotech inventions and breakthroughs,” he said.
Ms Boyle said local firms would take part in interactive workshops and receive feedback and advice from the investment experts.
“Panel sessions will discuss global trends in early stage biotechnology investment and shed light on what investors are looking for when backing a company.”
Ms Boyle said 10 biotechnology and medical device companies would pitch their products and services.
“Bulimba-based Medivations, for example, is commercialising a device for patients with respiratory diseases such as chest infections and pneumonia. It sends ultrasonic waves through the neck that trigger a cough reflex and allows them to clear their lungs.
“And Dendright, located at the University of Queensland, is working on an innovative vaccine based on white blood immune cells, called dendritic cells, for preventing auto immune diseases such as rheumatoid arthritis,” Ms Boyle said.
Ms Boyle said the Queensland Government provided support for early stage biotechs.
“The $3 million BioStart Investment Fund encourages and supports young start-up companies with funds to progress research to a ‘proof-of-concept’ level,” she said.
“The Innovation Start-Up Scheme provides seed funding to help highly innovative, early stage companies commercialise newly-developed products.
“And $1.4 million has been committed over four years to establish Australia’s first ‘Biotechnology Commercialisation Pipeline’, dedicated to helping biotechs attract venture capital. Biotechs can take part in capital-raising forums and receive mentoring to help attract capital and become ready to commercialise,” Ms Boyle said.
The Queensland International Investor Summit leads into Ausbiotech 2007 from 21-24 October.
Ends
18 October 2007
Media contact: 3224 2004
Visiting investors:
Kevin Scanlon, TechCoast Angels (TCA), United States
Allan May, Life Science Angels, United States
John M. Clerici, McKenna Long & Aldridge LLP, United States
Fintan Walton, Pharmaventures, United States
John Holaday, QRxPharma, United States
Rob Ayling, Finistere Partners, United States
Elliot Parks, Hamilton BioVentures, United States
Bryant Fong and Benjamin Chen, Burrill & Company, United States
Jyan-Ming Yang, TaiAn Technologies Eminent VC, Taiwan
Lucy Lu, Roche Diagnostics, United States
Michael Jones Orion Healthcare Equity Partners, Japan
Borys Chabursky, SHI Capital, Canada
Damien Perriman, The Dow Chemical Company, United States
Companies who’ll be pitching:
Cardiovascular Therapeutics, Michel R Hoenig, Brisbane, in collaboration with Harvard Medical School, Beth Israel Deaconess Medical Centre, Boston.
The researchers are developing drugs to treat heart disease by boosting new blood vessel formation and increasing stem cell function.
Corpison, Michael Stevens, UniQuest/University of Queensland, St Lucia, Brisbane
Corpison has devised technology that gives doctors information about patients’ vital signs through sound, reducing reliance on visual monitors.
Dendright, Genevieve Giuliani, University of Queensland, St Lucia, Brisbane
Dendright is commercialising a vaccine based on white blood immune cells, called dendritic cells, for the prevention of auto immune diseases such as rheumatoid arthritis.
Dendrimed, Jason Armstrong, University of Queensland, St Lucia, Brisbane
DendriMed is using nanotechnology to help drugs be better carried and specifically released at disease sites in the body.
Medivations, John Perrier, Bulimba, Brisbane
Medivations is commercialising a device for patients with respiratory diseases such as chest infections and pneumonia. It sends ultrasonic waves through the neck that trigger a cough reflex and allows them to clear their lungs.
MorphPlus, Joanna Maldonado-Saldivia, UniQuest, St Lucia, Brisbane
MorphPlus has created a unique formula for treating diabetic pain.
Neuhipron, Annita Nugent, Queensland Brain Institute/UniQuest, St Lucia, Brisbane
Neuhipron is developing technology to treat brain disorders, such as Alzheimers and stroke, that works by boosting the production and survival of brain cells.
Tenasitech, Craig Belcher, Australian Institute for Bioengineering and Nanotechnology/UniQuest, St Lucia, Brisbane
Tenasitech has developed a unique material using nanotechnology which could help make more durable biomedical implants, and thinner, stronger condoms and surgical gloves.
Isatin, Craig Patch, University of Wollongong
Isatin has a novel compound to attack cancer cells without the negative side effects of conventional drugs.
Minister for Regional Development and Industry Desley Boyle said investors from around the world are attending the Queensland International Investor Summit in the lead up to AusBiotech 2007 which starts in Brisbane on Sunday.
“The one-day Investor Summit brings together leading global venture capitalists, angel investors and life science firms as well as finance and investment professionals.
“This includes Rob Ayling, Managing Director of US-based life sciences venture Finistere Partners, LLC. The firm invests in medical devices, diagnostics and agricultural biotechnologies in the US and Australasia,” she said.
“Also visiting from the US is Bryant Fong, from Burrill & Company, a prominent San Francisco based life sciences venture capital firm with more than $900 million under management.
“These and other leading investors have the chance to meet some of Queensland’s brightest biotechnology and medical device companies who, while they have outstanding products and services, need to attract capital to grow,” Ms Boyle said.
Queensland Chief Scientist Peter Andrews, who will open the Summit, said the State’s biotechnology landscape boasted 90 companies employing around 5,000 people.
“When it comes to private sector capital, most investors look for technology in the later stages of development because these are often deemed less risky.
“This is a big obstacle to the growth of emerging biotech industries world wide, and particularly early stage companies.
“The Investor Summit will help young firms strengthen their bargaining position and forge better relationships with international investors. It will open new doors for Smart State companies working on world-class biotech inventions and breakthroughs,” he said.
Ms Boyle said local firms would take part in interactive workshops and receive feedback and advice from the investment experts.
“Panel sessions will discuss global trends in early stage biotechnology investment and shed light on what investors are looking for when backing a company.”
Ms Boyle said 10 biotechnology and medical device companies would pitch their products and services.
“Bulimba-based Medivations, for example, is commercialising a device for patients with respiratory diseases such as chest infections and pneumonia. It sends ultrasonic waves through the neck that trigger a cough reflex and allows them to clear their lungs.
“And Dendright, located at the University of Queensland, is working on an innovative vaccine based on white blood immune cells, called dendritic cells, for preventing auto immune diseases such as rheumatoid arthritis,” Ms Boyle said.
Ms Boyle said the Queensland Government provided support for early stage biotechs.
“The $3 million BioStart Investment Fund encourages and supports young start-up companies with funds to progress research to a ‘proof-of-concept’ level,” she said.
“The Innovation Start-Up Scheme provides seed funding to help highly innovative, early stage companies commercialise newly-developed products.
“And $1.4 million has been committed over four years to establish Australia’s first ‘Biotechnology Commercialisation Pipeline’, dedicated to helping biotechs attract venture capital. Biotechs can take part in capital-raising forums and receive mentoring to help attract capital and become ready to commercialise,” Ms Boyle said.
The Queensland International Investor Summit leads into Ausbiotech 2007 from 21-24 October.
Ends
18 October 2007
Media contact: 3224 2004
Visiting investors:
Kevin Scanlon, TechCoast Angels (TCA), United States
Allan May, Life Science Angels, United States
John M. Clerici, McKenna Long & Aldridge LLP, United States
Fintan Walton, Pharmaventures, United States
John Holaday, QRxPharma, United States
Rob Ayling, Finistere Partners, United States
Elliot Parks, Hamilton BioVentures, United States
Bryant Fong and Benjamin Chen, Burrill & Company, United States
Jyan-Ming Yang, TaiAn Technologies Eminent VC, Taiwan
Lucy Lu, Roche Diagnostics, United States
Michael Jones Orion Healthcare Equity Partners, Japan
Borys Chabursky, SHI Capital, Canada
Damien Perriman, The Dow Chemical Company, United States
Companies who’ll be pitching:
Cardiovascular Therapeutics, Michel R Hoenig, Brisbane, in collaboration with Harvard Medical School, Beth Israel Deaconess Medical Centre, Boston.
The researchers are developing drugs to treat heart disease by boosting new blood vessel formation and increasing stem cell function.
Corpison, Michael Stevens, UniQuest/University of Queensland, St Lucia, Brisbane
Corpison has devised technology that gives doctors information about patients’ vital signs through sound, reducing reliance on visual monitors.
Dendright, Genevieve Giuliani, University of Queensland, St Lucia, Brisbane
Dendright is commercialising a vaccine based on white blood immune cells, called dendritic cells, for the prevention of auto immune diseases such as rheumatoid arthritis.
Dendrimed, Jason Armstrong, University of Queensland, St Lucia, Brisbane
DendriMed is using nanotechnology to help drugs be better carried and specifically released at disease sites in the body.
Medivations, John Perrier, Bulimba, Brisbane
Medivations is commercialising a device for patients with respiratory diseases such as chest infections and pneumonia. It sends ultrasonic waves through the neck that trigger a cough reflex and allows them to clear their lungs.
MorphPlus, Joanna Maldonado-Saldivia, UniQuest, St Lucia, Brisbane
MorphPlus has created a unique formula for treating diabetic pain.
Neuhipron, Annita Nugent, Queensland Brain Institute/UniQuest, St Lucia, Brisbane
Neuhipron is developing technology to treat brain disorders, such as Alzheimers and stroke, that works by boosting the production and survival of brain cells.
Tenasitech, Craig Belcher, Australian Institute for Bioengineering and Nanotechnology/UniQuest, St Lucia, Brisbane
Tenasitech has developed a unique material using nanotechnology which could help make more durable biomedical implants, and thinner, stronger condoms and surgical gloves.
Isatin, Craig Patch, University of Wollongong
Isatin has a novel compound to attack cancer cells without the negative side effects of conventional drugs.