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Angel Investment Puts $1/2Mn Into Asthma Research

Angel investment puts $1/2million into young company's asthma management research

Media Information: 6 April 2005

ICEHOUSE resident Nexus6 has attracted first round funding of $500,000 through a combination of business angel and venture capital funding.

The investment is the result of collaboration between the ICEHOUSE's Ice Angels, Endeavour-iCAP, and K One W One.

Nexus6 CEO Garth Sutherland says the investment will be used to fuel market growth in the company's range of Smartinhaler digital asthma management solutions.

The company is world leading provider of digital asthma management solutions. Asthma is a condition that affects 150millon people world wide, with NZ having one of the highest rates of asthma per capital in the world

Smartinhaler has been developed for use by people with asthma, their care givers and health care providers. It also assists researchers to run more accurate clinical trials faster.

Sutherland says a significant benefit of the investment in addition to the capital is the expertise that comes with it, including new additions to the board of directors and the medical advisory board.

"Additionally, the funding increases the number of experienced business angels who are prepared to give their time and advice to the company" he says.

Cory Williams, CEO of the Ice Angels, says the funding is an excellent example of the collaboration between the organisation's angel investors, a venture capital company and a high net worth organisation.

-ends-


About Nexus6

· Nexus6 was formed in 2001 and became an ICEHOUSE incubator resident in 2003.

· Smartinhaler range of asthma management solutions launched in 2004

· Two thirds of sales are export

· Nexus6 is a participant of the New Zealand Trade and Enterprise Escalator programme

· Nexus6 is a Microsoft Certified Partner and builds its solutions on Microsoft .NET technology

About ICE angels

· The ICE Angels are a network of private angel investors brought together by The ICEHOUSE to facilitate investment in early stage companies, providing structure to the deal revision process and benefiting from scale economies in sourcing deal flow.

· The ICE Angels connects high-potential start-up ventures, with willing investors to facilitate the funding and success of emerging companies. The ICE Angels is an angel investor network -a collective of private investors who have banded together to increase their 'deal flow.

· Members are experienced entrepreneurs and business people who take an active interest in the management of investee companies.

· ICE Angels is not a venture capital fund, though we venture capitalists are affiliate members.

· ICE Angels deal flow is sourced from within and outside of The ICEHOUSE incubator.

ENDS

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