Tenmile

Australia’s untapped biotech potential is beginning to shine! ✨🧬 Translating world-class Australian research into globally competitive companies is one of the country’s greatest, yet often overlooked, opportunities. It’s fantastic to see our portfolio company, Proxima Bio, featured in Forbes Australia, alongside 5 other groundbreaking biotech ventures—all part of the inaugural cohort at Jumar Bioincubator in Melbourne. This recognition highlights the strength of Australia’s biotech ecosystem and the impact of fostering deep science innovation. Excited to see what’s next for these companies as they push the boundaries of medical and scientific advancement. *Link to article in the comments below #Biotech #Innovation #HealthTech

Money to be made and Australian Biotech making waves on the global stage. Thanks to Bronwen Clune & Capital Brief for highlighting the recent AdvanCell funding announcement - in one of the years biggest raises to date, securing an oversubscribed $178m and attracting notable overseas investors SV Health Investors, Sanofi Ventures , Abingworth, and SymBiosis We're excited to be supporting this exciting Brisbane born innovation with our friends Brandon Capital and seeing more great Australian Biotech's take flight Find the full article here 🗞️ https://lnkd.in/gYbj6dgn

AdvanCell Enters Into Strategic Collaboration with Lilly to Advance Novel Targeted Alpha Therapies for the Treatment of Cancer

What's the State of Healthtech Funding? It's an exciting time to be in Health & Life Sciences in Australia - with the data backing it. Our team's Aizaz Syed shared his thoughts on the state of healthtech, along with 100 other startup industry leaders and collaborators in Cut Through Venture’s 2024 State of Startup Funding Report Key Takeaways for the Australian Health landscape: 💰 $347m reported funding for Bio/Medtech (the 3rd most funded category) 💰 $129m reported funding for Healthtech 💰 Health/Bio is the 3rd category of most interest for both VCs & Angels 💰 Numerous new funds for health, including WEHI Ventures, Bupa Ventures & Brandon Capital fund VI 💰A few sizeable deals including our portfolio company Aravax ($66m Series B), Updoc ($20m Series B) & Kismet ($33m Seed) Whilst this is great progress, theres still a long way to go. Particularly on the Growth Capital, Commercialisatin and Talent front. However together, we can no doubt continue to create meaningful improvements and uplift the Australian Health & Life Science Ecosystem 💡 Want to know more about the State of Healthtech Funding in Australia? 👇🗞️ Have a read of the article by our own Emily Casey linked below

We are proud to announce our investment into AdvanCell's US$112M Series C. AdvanCell are developing a new radiopharmaceutical platform that leverages powerful alpha particles to treat cancer. AdvanCell's drugs are based on radioactive lead-212 and are designed to hone into cancer cells and deliver lethal radiation to them, while sparing healthy cells.  This investment, alongside SV Health Investors, Abingworth, Sanofi, SymBiosis, POINT Biopharma, a wholly owned subsidiary of Eli Lilly and Company, Brandon Capital and Morningside Technology Advisory LLC, has been a tremendous effort and we look forward to working with our partners to bring AdvanCell's innovative medicines to more patients who need them. Congratulations to Andrew Adamovich, Simon Puttick, Dr. Anna Karmann and the rest of the AdvanCell team - it's amazing to see an Australian success story innovate at the very edge of what's possible on a global scale. Steve Burnell Arjun Balaji Aizaz Syed Mike Lamprecht Joey Man Emily Casey Kelsee Sewell Read more below:

The Bridge Program has extended its application deadline to 9 February 2025.   If you're a mid-career drug development or biotech professional looking to expand your commercialisation knowledge and networks, now's your chance!   Apply now and join a nationwide biotech network! Link: https://lnkd.in/gCkdvDh

We’re excited to kick off the year announcing our investment into Proton Intelligence who are leading the way in continuous potassium monitoring and just closed a US $6.95m seed round! Proton’s small wearable device is aiming to provide real time insights and data for patients with chronic kidney disease or dialysis to reduce adverse outcomes 🫀With the device entering human trials. We’re proud to be investing alongside SOSV, We Venture Capital, Exor Ventures & LongeVC, and look forward to working together to support bringing this to life Congratulations to Sahan Ranamukhaarachchi & the whole Proton Intelligence Team 🎉 Want to know more? Check out this article in TechCrunch 👉 https://lnkd.in/geBiSvvB

📣 We’re excited to announce our official rebrand to Xylo Bio! This new identity reflects our growth and focused commitment to advancing neuroplastogens - targeted therapies designed to rewire neural circuits and restore brain function. With our lead candidate XYL-1001 moving toward clinical trials and the addition of industry leaders Elaine Stead, PhD and Margarita Chavez, JD to our Board, we’re entering an exciting phase of innovation in neurotherapeutics. 🚀 Learn more about our evolution in our press release: https://lnkd.in/g3nvVRux 🧪 Joshua Ismin 💊 Sam Banister ⚗️ William Jorgensen Jin Tan Joanna Hare Lachlan Whish Nick Everett Dilara Bahceci Krista Licata Alan Kozikowski Alex Kwan Graham Pechenik Dr. Jianmin Duan Bradley Joblin Anna Goldys Ryan Bethencourt Eric J. Nestler, MD, PhD John Krystal Donald Gehlert, Ph.D. Forest Heims Main Sequence Tenmile Lionheart Ventures Focalpoint Partners Negev Capital Possible Ventures Startmate UNSW Founders Radar Ventures Gabrielle Munzer Chris Hitchen Steve Burnell Mike Lamprecht Emily Casey Shelby Clark Brom Rector, CFA Samantha Tabone Ken Belotsky

Happy Holidays and Festive Season from team Tenmile - hope you all have a wonderful, rejuvenating break and end of year ✨ See you in 2025!

Fantastic to see Lumos Diagnostics commence their pivotal FebriDx CLIA Waiver study in the US and receive their first two funding milestones from BARDA. The trial will run through US Spring 2025, after which a formal submission will be prepared for the FDA.