Startup · $4.5m raised
Develops medical devices for skin diseases, tissue repair and skin rejuvenation using synthesized tropoelastin.
Sydney, NSW
Every investor coverage indicates participated in a round Elastagen Pty Ltd raised.
| Investor | Rounds | Invested |
|---|---|---|
| NSW Government | Grant | - |
| NSW Health Medical Devices Fund | Grant | - |
The transaction that ended Elastagen Pty Ltd's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Allergan plc | Acquisition | 7 Feb 2018 | US$95m (A$122m) | GBS Ventures (28 Sep 2018), GBS Ventures (7 Feb 2018) |
Companies Elastagen Pty Ltd acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Elastagen Pty Ltd. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Sydney-based tropoelastin biotech Elastagen agreed to an Allergan takeover offering US$95 million upfront plus contingent payments; the GBS Ventures-backed company previously drew MDF and federal grant funding.
Also GBS Ventures
NSW Government's 2016 Medical Devices Fund awarded $8.6 million to four medtech companies, Elastagen getting $4 million; earlier winners Saluda Medical and Atomo Diagnostics also feature, the latter having lately drawn Gates Foundation money.
Cell Innovation Partners invested A$1 million in Sydney biotech Elastagen within a second close of its A$14 million Series B, with AMOREPACIFIC Ventures, Korea Investment Partners and the Wellcome Trust also joining the round.
Sydney clinical-stage medical company Elastagen closed a A$13 million Series B, adding KIP, AMOREPACIFIC Ventures and Wellcome Trust to its existing backers; KIP's Sangwoo Lee joined the board.
Two medical technology companies, Elastagen and Endoluminal Sciences, together received $4.5 million from the NSW Government's Medical Devices Fund, a competitive program backing local medical device development and commercialisation.
Also GBS Ventures
Sydney medical device company Elastagen completed a first-in-human study of its synthetic elastin skin products and plans two further trials, targeting a European launch in early 2013.