VC firm blog
Everything we hold that GBS Ventures published.
The most recent 60 of 165 articles we hold from GBS Ventures.
GBS Venture Partners marks Pharmaxis winning US approval for its cystic fibrosis drug Bronchitol, the fifth FDA clearance across four companies the Australian fund has backed.
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GBS Ventures marks its fourth FDA drug approval as Hatchtech's head lice treatment Xeglyze clears the regulator, recalling earlier wins behind Picato, Synribo and Aridol with Australian biotech firms.
ASX-listed medical device maker AirXpanders is winding down, cutting staff to about eight, halting product sales and support, and expecting a US Chapter 7 bankruptcy filing by late July 2019.
ASX-listed medical device maker AirXpanders, headquartered in California, extends its voluntary trading suspension while reviewing financial and strategic alternatives, and postpones its 2019 annual stockholder meeting.
ASX-listed breast reconstruction device maker AirXpanders, based in California, has appointed financial services firm Cowen to review financial and strategic options; no transaction has been agreed.
ASX-listed medical device maker AirXpanders announced a restructuring cutting roughly 45% of staff and about a third of quarterly cash use, and said it is pursuing capital raising options via a preliminary SEC filing.
AirXpanders' release, republished by GBS Ventures, reports a retrospective study in which its AeroForm expander showed fewer infections and quicker expansion than saline devices; the company is noted as ASX-listed under ticker AXP.
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AirXpanders, an ASX-listed medical device maker headquartered in California, halted trading in its securities while reviewing operations, facing an expected loan covenant breach, and weighing options for a future capital raise.
Device maker AirXpanders marks 4,000 AeroForm tissue expanders placed globally, noting growing US and Australian hospital adoption, a rebuilt US sales team and reduced spending; the company trades on the ASX as AXP.
GBS Ventures marks Elastagen winning the 2018 AVCAL best venture capital investment award, recalling its portfolio sales of Spinifex, Hatchtech and Neurovance, with managing director Brigitte Smith honoured for her industry contribution.
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Medical device maker AirXpanders completed a private placement first announced in August 2018, issuing shares to Vivo Ventures and its chairman Barry Cheskin to raise about US$3.4 million, notifying the ASX accordingly.
Medical device maker AirXpanders appoints US industry veteran Frank Grillo as chief executive, succeeding interim leader Scott Murcray, with co-founder Barry Cheskin welcoming the hire ahead of Grillo fronting July's investor call.
AirXpanders' quarterly update: steady revenue, cost cuts and headcount reductions, Scott Murcray interim CEO while the board searches for a permanent chief, and a planned move to Australian distributors.
ASX-listed medical device maker AirXpanders, based in California, released its 2017 full-year results, reporting growing AeroForm sales, a US$34 million equity placement, and a US$15 million debt facility with Oxford Finance.
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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.
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US-based medical device maker AirXpanders, listed on the ASX, proposes adding Liz Hammack to its board as co-founder Teddy Shalon departs and fellow director Dennis Condon faces re-election at its May annual meeting.
AirXpanders wins US regulator clearance for an improved film material in its breast reconstruction device, reporting sales hires and clinic conversions as its American rollout begins ahead of schedule.
A breast reconstruction device maker presented its needle-free tissue expansion technology at a Barcelona surgical conference, where a US trial investigator shared results and the chief executive outlined plans for European availability.
A US television segment showcased AirXpanders' CO2-based tissue expander for breast reconstruction, with its surgeon-investigator and a patient describing their experience; the post recaps the device maker's background, US approval and ASX listing.
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AirXpanders, a Palo Alto-based medical device maker listed on the Australian exchange, announced completion of its A$45 million placement, in a release republished on GBS Ventures' news page.
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ASX-listed medical device maker AirXpanders, based in California, has committed investors for a A$45 million private placement at A$0.92 per CDI, with Canaccord Genuity as sole lead manager, to fund its US commercial launch.
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The ASX-listed medical device maker AirXpanders has published an investor presentation, weeks after US regulators granted clearance for its tissue expansion product.
Breast reconstruction device maker AirXpanders gained US regulator clearance for its needle-free AeroForm tissue expander, enabling a January 2017 American launch; an amended CE Mark also covers an enhanced version.
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.
AirXpanders shared new clinical data for its AeroForm breast reconstruction device at a major plastic surgery meeting, showing faster expansion times, and an Australian study author received a best-paper award.
GBS Ventures marks a second straight AVCAL early-stage award, this time for its Hatchtech investment, after Spinifex Pharmaceuticals' sale to Novartis and earlier wins for Peplin and Pharmaxis.
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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.
ASX-listed breast reconstruction device maker AirXpanders secured commitments for a 20 million dollar placement at 76 cents per CDI, and appointed Scott Murcray CFO/COO ahead of its planned US launch.
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.
AirXpanders reported positive results from its XPAND pivotal trial of the AeroForm tissue expander at a major plastic surgery meeting, showing faster expansion than saline devices, as it seeks US FDA clearance.
AirXpanders reports brisk early adoption of its AeroForm tissue expander after its Australian launch, citing surgeon training, hospital onboarding, and steps toward a US market entry.
AirXpanders' needle-free breast-reconstruction device is showcased at a major American plastic surgery conference, with trial results presented; the ASX-listed company awaits a US regulatory decision.
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Breast reconstruction device maker AirXpanders has lodged a 510(k) regulatory submission with US authorities for its needle-free AeroForm tissue expander, following positive clinical trial results, as it moves toward entering the American market.
ASX-listed breast reconstruction device maker AirXpanders reports its pivotal XPAND trial met its primary endpoint, with results to go to the US regulator and be presented at a plastic surgery meeting in Boston.
Australian diabetes biotech Verva sold all its IP to two biotechs and entered liquidation with PKF Australia appointed; background recalls early Adipogen backing from Uniseed, QIC BioVentures and GBS Ventures.
GBS Ventures reports Novartis has agreed to acquire chronic-pain drug developer Spinifex Pharmaceuticals for US$200 million upfront plus milestones, recalling the company's 2005, 2008 and 2014 venture rounds and its Australian investors.
Also GBS Ventures·novartis.com·clinicalleader.com·Startup Daily·Startup Daily·anthillonline.com·@AuManufacturing·materresearch.org.au·Business News Australia
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Pain-drug developer Spinifex Pharmaceuticals hires Dr Ronald Marcus as chief medical officer; CEO Tom McCarthy cites a recent $45 million raise backing further phase 2 trials of EMA401.
A brief GBS Ventures news post announcing Spinifex Pharmaceuticals' US$45 million Series C raise, with particulars left to an attached download.
GBS Ventures news stub linking to an attached document reporting Phase II trial results for Spinifex's EMA401, which showed the drug reduced pain in postherpetic neuralgia.
Hatchtech announced FDA sign-off on its DeOvo Phase 3 trials and two extra patents; its profile names GBS Venture Partners among the company's investors.
Melbourne drug developer Hatchtech raised A$12.6 million, with OneVentures Innovation Fund leading, to advance its head lice treatment toward Phase III trials; board changes brought in Richard Treagus and Hugh Alsop.
Australian medtech Endoluminal Sciences has licensed its technology for sealing leaks around artificial heart valves to Swiss valve maker Symetis for use in transcatheter valve products; backers of both companies are named.
A brief 2013 GBS Ventures news post pointing to a press release stating MEI Pharma has acquired the PI3-kinase delta inhibitor candidate PWT143; the post itself gives no deal terms or locations.
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
Air Liquide, through its start-up investment subsidiary ALIAD, has taken an equity stake in HYDREXIA, a Brisbane-based University of Queensland spin-off developing solid magnesium hydride hydrogen storage for industrial markets.
Heart-failure device developer Sunshine Heart, dual listed on NASDAQ and the ASX, closed an underwritten public share offering netting roughly $14 million, with Canaccord Genuity as sole book-runner.
The ASX and NASDAQ-listed heart device maker names an investment banking executive to its board, citing his deal experience, as it readies a key US trial and a European study.
GBS Ventures' news page points to an attached document announcing Sunshine Heart's appointment of Warren Watson to its board; the page itself carries only the headline and date.
GBS Ventures reposts a 2013 notice that Sunshine Heart signed a $25 million financing agreement with Aspire Capital Fund, with details only in an attached download.
Brief November 2012 notice reporting that Sunshine Heart won unconditional American regulator clearance to run a pivotal United States trial of its C-Pulse heart device, with detail left to an attached document.
Profile of Australian biotech Spinifex Pharmaceuticals and its neuropathic pain drug EMA401, covering phase II trials, the science behind its AT2 approach, and its venture backers as it weighs a future series C.
A January 2012 post on GBS Ventures' news page announces Julie Cherrington as the new board chair of Xenome, tasked with steering the company through a pivotal stage; details sit in an attached document.
A brief post on the venture firm's news page records that Xenome has completed an eight-million-dollar financing, referring readers to a downloadable file for particulars.
A one-line dated brief on the venture firm's site noting that company Uptake has received an approval described as Australian; no further detail appears in the item.
A bare stub on GBS Ventures' site dated December 2011, pointing readers to a downloadable ASX announcement about Sunshine Hearts; the page itself gives no details of the announcement's contents.
Australian pharmaceutical developer Hatchtech appoints Tim Waugh, a former Roche divisional vice president, as chief executive officer to lead development and commercialisation of its head lice treatment DeOvo and establish a United States presence.
A stub news post on GBS Ventures' site flagging that Sunshine Heart's feasibility trial findings were due for presentation at a cardiology conference, with an attached document available for download.
GBS Ventures announces it has fully wound down its 1998 biotech fund with returns in the top quartile of US peers, recalling portfolio listings, Dynamic Hearing's sale to Wolfson, and its $122.5m fourth fund.
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A brief 2011 post from GBS Ventures linking to an attached ASX announcement about early results from Sunshine Heart's C-Pulse feasibility trial, released by Ohio State.
Deals recorded from GBS Ventures's coverage. A round is listed once, however many of their articles mention it.
| Company | Stage | Announced | Amount | Investors |
|---|---|---|---|---|
| AirXpanders | Unnamed stage | 2017 | $45m | |
| Spinifex Pharmaceuticals | Series C | 13 May 2014 | US$45m (A$48.3m) | |
| Elastagen Pty Ltd | Grant | 1 Aug 2013 | $4.5m | |
| Spinifex Pharmaceuticals | Unnamed stage | Jul 2005 | $3.2m |
Companies named in GBS Ventures's articles, most-covered first.
| Company | What it does | Articles |
|---|---|---|
| Acrux | 1 | |
| Amgen | 1 | |
| Atomo Diagnostics | 1 | |
| Boston Scientific | Global medical technology company | 1 |
| Bourns Semiconductor Inc | 1 | |
| Bristol-Myers Squibb | 1 | |
| BT Imaging | 1 | |
| Canaccord Genuity | 1 | |
| Cedars Sinai | 1 | |
| Cicada Innovations | Deeptech incubator supporting investment-readiness for startups | 1 |
| Cogstate | 1 | |
| Columbia University Medical Center | 1 | |
| Cowen Inc. | Investment banking and capital markets services | 1 |
| Deakin University | 1 | |
| Dynamic Hearing | 1 | |
| Fibrotech | 1 | |
| Fultec | 1 | |
| Genesis Fund | 1 | |
| Government of Western Australia | 1 | |
| IIF | app-based farm investment platform that lets consumers invest in farms to earn returns fr… | 1 |
| Intuitive Surgical Inc | 1 | |
| Johns Hopkins University | 1 | |
| Monsoon Communications | Financial public relations and communications for listed companies | 1 |
| MRCF | 1 | |
| Neuren Pharmaceuticals | Melbourne-based biotechnology company developing therapies for serious neurological disor… | 1 |
| New South Wales state government | 1 | |
| Northwestern University | 1 | |
| Novartis Venture Fund | 1 | |
| Pfizer | 1 | |
| Queensland Government | 1 | |
| Quest Software Inc. | 1 | |
| Roche | 1 | |
| Saluda Medical | Healthtech startup | 1 |
| Shire plc | 1 | |
| Smart Sparrow | 1 | |
| State Government of New South Wales | 1 | |
| State Government of Victoria | 1 | |
| SYNthesis Med Chem | 1 | |
| TGA | Therapeutic Goods Administration | 1 |
| The Australian Bioscience Trust | 1 | |
| the federal government | 1 | |
| Tufts University | 1 | |
| US Food and Drug Administration | 1 | |
| Vintela | 1 | |
| Western Technology Investments | 1 | |
| Wolfson Microelectronics | 1 | |
| Aesthetx | 2 | |
| Allergan plc | Bold, global biopharmaceutical company headquartered in Dublin, Ireland | 2 |
| American Society of Plastic Surgeons | Professional society of plastic surgeons whose 2016 annual meeting hosted the AeroForm da… | 2 |
| Australian Securities Exchange | 2 | |
| Canaccord Genuity Australia | 2 | |
| Correlation | 2 | |
| Endoluminal Sciences | 2 | |
| Heron Capital Venture Fund I | 2 | |
| Hydrexia | 2 | |
| Leo Pharmaceuticals | 2 | |
| Medtronic | Global medical technology company | 2 |
| MSLGROUP | 2 | |
| Novartis | Swiss giant | 2 |
| Novo A/S | 2 | |
| Spiran | Australian Distributor | 2 |
| Sunshine Heart, Inc. | 2 | |
| Teva | 2 | |
| University of Sydney | 2 | |
| Verva Pharmaceuticals Limited | 2 | |
| Xenome | 2 | |
| Chemgenex | 3 | |
| Columbia University | University where Dr. Jeffrey Ascherman leads the plastic surgery division and presented t… | 3 |
| Peplin Inc | Australian technology used to treat Actinic Keratosis | 3 |
| University of Melbourne Endowment | 3 | |
| University of Queensland | Research university where Cortisonic's underlying phononic computing research originated | 3 |
| Buchan Consulting | 4 | |
| Pharmaxis | Australian company that developed a treatment for bronchiectasis | 4 |
| Elastagen Pty Ltd | Develops medical devices for skin diseases, tissue repair and skin rejuvenation using syn… | 6 |
| Sunshine Heart, Inc | 6 | |
| sunshineHeart | 6 | |
| Spinifex Pharmaceuticals | UQ spin-out sold to Novartis in 2015 | 7 |
| Hatchtech | Developing a new treatment for head lice | 8 |
| WE Buchan | 9 | |
| AirXpanders | Tissue expander system for breast reconstruction | 26 |
Investors named in GBS Ventures's articles, most-covered first.
| Investor | What it does | Articles |
|---|---|---|
| GBS Ventures | Venture firm backing early-stage healthcare companies | 15 |
| Uniseed | Venture fund backing early-stage deep tech and life science companies | 8 |
| Brandon Capital | 6 | |
| Australian Government | 5 | |
| AustralianSuper | country’s largest industry fund | 5 |
| GBS Venture Partners Ltd. | 4 | |
| UniQuest | UQ’s commercialisation company | 4 |
| University of Melbourne | University operating the Melbourne Connect innovation precinct | 4 |
| AMOREPACIFIC Ventures | The corporate venture fund of Amore Pacific, the largest cosmetic company in Korea. | 3 |
| Korea Investment Partners | 3 | |
| OneVentures Innovation Fund | 3 | |
| Queensland Biotechnology Fund | 3 | |
| Wellcome Trust | A global charitable foundation that supports medical research. | 3 |
| Blue Sky Alternative Investments | 2 | |
| Canaan Partners | 2 | |
| Cell Innovation Partners Limited | Japanese venture group investing in regenerative medicine and stem cell venture companies. | 2 |
| NSW Government | 2 | |
| Oxford Finance LLC | 2 | |
| Vivo Ventures | 2 | |
| Air Liquide | 1 | |
| ATP Innovations | 1 | |
| Bill & Melinda Gates Foundation | 1 | |
| Innovation Investment Fund (IIF) | 1 | |
| Medical Research Commercialisation Fund | Venture fund commercialising biomedical research into medical products | 1 |
| MTAA Super | 1 | |
| Novo Ventures | 1 | |
| NSW Health Medical Devices Fund | 1 | |
| StatewideSuper | 1 | |
| The University of Queensland | 1 | |
| University of New South Wales | 1 |