2. Australia puts $6m into Global Kinetics
An investment arm of the Australian government put another $6 million into Global Kinetics and the KinetiGraph wrist-worn device it’s developing to monitor Parkinson’s disease patients.
Brandon Capital, which manages A$230 million of Australia’s A$500 million Biomedical Translation Fund, put A$7.8 million in Global Kinetics. The cash is intended for commercializing the KinetiGraph device and winning U.S. reimbursement, according to the Australia Financial Review.
Global Kinetics also won a small grant from the Michael J. Fox Foundation for Parkinson’s Research, the Shake It Up Australia Foundation and Parkinson’s Victoria to back a global clinical trial, the newspaper reported.
“We’re working with a number of sites in the U.S. already using the device in routine clinical care and we’re partnering with the U.S. National Parkinson’s Foundation, but we have had to be strategic about the rollout until the point of reimbursement,” Global Kinetics COO Michelle Goldsmith told the paper.
Brandon Capital also invested in Global Kinetics’ A$14.8 million raise in 2015 (~$11.5 million at today’s exchange rate).
($1 = A$1.28853)
