Good morning, Armchair Army,
Welcome to today's edition of The Armchair Analyst, a 5-minute daily update on the ASX life-sciences sector.
We are under two weeks away from the first-ever Armchair Analyst event.
Armchair After Market.
A fireside chat with leaders of my three favourite ASX-listed healthcare stocks:
Will Knox, the CEO of Tetratherix (ASX: TTX)
Jeremy Steele, CEO of Control Bionics (ASX: CBL)
Greg Hutchinson, Exec Chair of Emyria (ASX: EMD)
That crept up quickly!
The idea behind this event is to have great conversations with some of my favourite people about the healthcare industry and life as a publicly listed company.
Each of these individuals is an entrepreneur in their own right.
I want to learn, just a little bit, about what it takes to build a successful healthcare business on the ASX.
… and what the future looks like for these companies that I’ve invested in.
If you’re in Melbourne on Thursday, August 27th, from 3:30 pm, reserve a spot (it’s free).
We’re about 75% to capacity. Snacks and drinks will be provided.
The full event (including drinks + networking) runs until about 6:00 pm.
Let’s dive in…
The Pulse Check
Tumbleweeds again from the public markets today…
So here is some news out of VC/Private world in Australia.
Tenmile has led the $3.5 million seed round for Kantoko, an ADHD diagnostics assessment platform. (Forbes)
🪑 I heard the CEO, Zac Altman, speak at the Digital Healthcare Festival earlier this year.
Big tick for early-stage healthcare startups in Australia, and good luck, Zac!
REPORT: AI Healthcare startup Heidi Health is raising $100M at a $1B valuation - set to be Australia’s next tech unicorn. (AFR)
🪑 Would be another huge win for the ASX-listed healthtech industry.
Six startups have secured A$13.5 million in non-dilutive grant funding from the CUREator+ program. (StartupDaily)
🪑 CUREator+ is a national incubator program funded by the Australian Government’s Medical Research Future Fund.
An important launchpad for scientific research before companies are mature enough to take products through to the clinic.
This is the first deployment since the program secured $33 million in government funding last month.
Private MedTech company Atmo Biosciences has raised $12 million in a down round to develop its gas capsule for measuring gut disorders. (AFR)
🪑 Previous round done at a $75 million valuation; this one at $25 million. Down rounds are never great, but sometimes necessary to bring in the money.
Now it is all about what it does with the money.
See you all next week.
The Armchair Analyst.
PS. Let me know if you guys liked this little Australian private-market news wrap.
