Bioscience Managers Expands Asia Pac Presence -- Invests NZ$3m in NZ Patient Monitoring Company
MELBOURNE, Australia, Feb. 21, 2013 /PRNewswire/ -- Leading Asia Pacific healthcare fund manager, BioScience Managers Pty Ltd, today announced a NZ$3m investment in innovative New Zealand asthma technology company Nexus6.
Nexus6's SmartInhaler product remotely monitors adherence to asthma treatment regimes, ensuring patients comply with treatment protocols in general use and in clinical trials, giving clinicians transparency over inhaler use and dosage in real time.
"Nexus6 technology holds the key to not only ensuring better patient outcomes, but also in minimising wastage and costs of treatment, by ensuring that asthma sufferers take only 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 asthma clinical trials."
Nexus6 marks BioScience Managers' second investment from its Asia Pacific Healthcare Fund II. The AU$55m fund is still open to investors, with a final close expected in September 2013. The investment was also supported by up to NZ$2m raised from existing investors, including leading NZ venture firm K1W1.
The firm is increasingly active in the medical technologies space, providing investment management services to Plus listed UnionMedtech (UMT). UMT marks the first of a planned series of tailored investment vehicles to bring together investor appetite for specific aspects of healthcare with technologies sourced from around the globe.
BioScience Managers Chief Investment Officer Matt McNamara commented, "The healthcare sector is increasingly important at a global macroeconomic level, with both the cost and the effectiveness of healthcare solutions coming under increasing scrutiny."
"We believe there is a significant opportunity in the investment in and consolidation of medical technologies from around the world to enable those companies better access to international markets and economies of scale across synergistic businesses."
From the company
Auckland based medical devices company Nexus6 has secured NZ$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 NZ$1.6m so far, with a final close in March anticipated to take the round to a total of NZ$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 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 AU$55m and is still open to investors. In addition, BioScience Managers provides investment management services to Plus listed company Union Medtech.
About Nexus 6 (www.smartinhaler.com)
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 with 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 Union Medtech (www.unionmedtech.com)
Union MedTech Plc (UMT) is a listed company focused on acquisitions in the medical technology sector, excluding pharmaceuticals.
Its goal is to find medical devices, diagnostics and other healthcare products and services that, although capable of generating healthy profits, need assistance to bring them to market or expand their markets internationally.
UMT works with inventors and small companies that have created high value technologies which have the power to transform lives, yet have struggled to achieve international market penetration due to lack of capital, expertise or resources. UMT provides a solution for those companies and their shareholders that will enable them to achieve international success and recognition.
SOURCE BioScience Managers Pty Ltd