Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


$5m For Nexus6 Innovative Asthma Monitoring Technology

21 February 2013

$5m For Nexus6 Innovative Asthma Monitoring Technology

Auckland based medical devices company Nexus6 has secured $4.6M of new investment to support international expansion of its Smartinhaler product range. Led by leading international life sciences investment group, BioScience Managers, which has contributed NZ$3M, existing shareholders have also contributed $1.6m so far, with a final close in March anticipated to take the round to a total of $5M.

The Smartinhaler range allows physicians and patients to monitor real life use of inhaled treatments for respiratory conditions. This means that physicians can remotely ensure that patients are adhering to the optimal treatment program for their condition.

Over the past 10 years, the company has invested heavily in the development of its core Smartinhaler platform for use with inhaled respiratory medications and has successfully sold its products to large international pharmaceutical companies for use in clinical trials. This new investment will enable Nexus6 to accelerate international expansion and significantly increase its sales and marketing capabilities.

Nexus6 founder Garth Sutherland commented, "The combination of capital to execute our growth strategy and the experienced support of the BioScience Managers team provides us with a unique opportunity to take our company global."

“Smartinhaler represents a new paradigm in the management of asthma and respiratory diseases. We now have the resources to take this product to the world and continue to build Nexus6 into an international leader in remote patient monitoring solutions.

Nexus6 marks BioScience Managers’ second investment from its Asia Pacific Healthcare Fund II. "Nexus6 technology holds the key to not only ensuring better patient outcomes but also in minimising wastage and costs of treatment. It ensures patients with respiratory conditions take what they need and when they need it," said Bioscience Managers Managing Director, Jeremy Curnock Cook.

"In the current climate, technologies that enable remote monitoring of patients and support the delivery of better health outcomes, for less cost and with less wastage, are extremely important. Nexus6 also provides a unique supporting technology for respiratory clinical trials."

In support of the company’s focus on international expansion, Nexus6 moves forward with a Board of Directors comprising Dr Doug Wilson (Chair), Jeremy Curnock Cook, Matt McNamara, Maxine Simmons, and company founder Garth Sutherland; bringing together a group that has significant global experience in the development, sales, marketing and management of biomedical companies.

The company offers its sincere thanks to the outgoing board members David Bone, Dr David Evans, Dr Iain McCormick and Dr Dennis Row for their significant contributions and careful stewardship of the company, which has enabled Nexus6 to reach this stage in development.

The company is grateful for the continued support of its existing shareholders K1W1, Ice Angels Nominees, Cure Kids Ventures, NZ Venture Investment Fund (SCIF) and individual investors.

--

About Nexus6
Nexus6 is an innovative medical device company headquartered in Auckland, New Zealand. It has developed the Smartinhaler range of products for remotely monitoring adherence to asthma and COPD treatment regimes. These products help patients adhere to prescribed treatments in the daily management of their condition, and also in clinical trials. Smartinhaler also provides physicians with important information relating to patient control of their condition.


About BioScience Managers Pty Ltd (www.biosciencemanagers.com)
BioScience Managers Pty Ltd (formerly IB Managers) is a leading life sciences investment firm, headquartered in Melbourne, Australia. Established in 2003, BioScience Managers offers a global, multi-disciplinary team, bringing an international perspective together with the track record, networks and expertise required to convert that perspective into informed, high return investment decisions.

The firm operates a high value-add model, providing assistance and support to portfolio companies via a global team and international network of independent industry advisors. With combined experience of over 170 investments, more than 40 IPO’s/ reversals in Europe, the USA and Australia, and a diverse skillset specific to the bio-based industries, BioScience Managers aims to provide investee companies with significant value-add over and above capital invested.

BioScience Managers currently has AU$96.8m under management. Its second fund, the Asia Pacific Healthcare Fund II has completed a first close at $55m and is still open to investors. In addition, BioScience Managers provides management and investment services to Plus listed Union Medtech (www.unionmedtech.com).


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news