Fund managers announced to invest $500m Biomedical Translation Fund
13th Dec 16
Tuesday, 13 December 2016: The Australian Government has today announced the three venture capital firms which will manage the $500 million Biomedical Translation Fund (BTF). The BTF is aimed at translating Australian science and research efforts into market-ready healthcare products.
OneVentures, Brandon Capital and BioScience Managers were selected through a competitive process to invest the BTF funds to help nurture biomedical discoveries which have the capacity to change lives by turning them into real-life healthcare solutions.
The BTF is a co-investment program with $250 million of funding seeded by the Government’s Medical Research Future Fund, to be matched by more than $250 million from the private sector.
“The Fund aims to stimulate the biomedical research sector by attracting private investment and leveraging the expertise of Brandon, OneVentures and BioScience Managers to find the next great Australian biomedical discoveries.”
“Each of these fund managers were chosen for their experience and capability to negotiate the challenges, expense and time commitments involved with commercialising ground-breaking medical research, which reflects the depth of talent and expertise we have in Australia,” said AVCAL Chief Executive Yasser El-Ansary.
One Ventures provides human and investment capital into high growth companies with a particular focus on transformative technologies. Its focus is on ideas which have originated in Australia with potential for global expansion.
Brandon Capital specialises in life science investment, turning innovative science into improved medical outcomes. It currently manages two Medical Research Commercialisation Fund collaborations.
BioScience Managers is a life sciences investment firm with a skill set specific to the bio-based industries with an international perspective.
The BTF was born out of the Government’s National Innovation and Science Agenda which has allocated $1.1 billion towards initiatives aimed at building Australia’s capacity to be an innovation leader, including investment in start-ups and early stage ventures.
Author: Yasser El-Ansary, Chief Executive, AVCAL