9year low..., page-36

Just noted from CFO's email, $20m was US$20m, so will be A$19.2m

I noticed another news as quoted below, will venture funds invest Pharmaxis more?


Govt pledges $100m for tech start-ups
BY:GILLIAN TAN From: The Wall Street Journal March 27, 2013 1:59PM

THE Australian government?s Innovation Investment Fund has pledged at least $100 million to local venture capital funds, climate change, industry and innovation minister Greg Combet has announced.

The government funding will be matched dollar-for-dollar by private sector investors such as superannuation funds and high net worth individuals. It will see MH Carnegie & Co.’s Carnegie Venture Capital receive a combined $80 million, while GBS Venture Partners and Innovation Capital Associates will each receive $60 million.

“Successful start-ups are essential to creating new products, jobs and economic growth," Mr Combet said. "The IIF will continue to co-invest government capital with private investor capital into early-stage Australian technology based companies."

The IIF has been investing since 1998, and has backed companies including online job classifieds company Seek and biotechnology firms Bionomics and Pharmaxis.


GBS Venture Partners’s portfolio includes lice treatment group Hatchtech; AiMedics, which is developing a medical device to help diabetics detect low blood sugar and AirXpanders, which is developing a device stretches the skin to accommodate a permanent implant after breast cancer reconstructive surgery.

“We think it’s fantastic that the government continues to back life science, which has historically accounted for half of all venture capital investing in Australia.,” GBS co-founder and managing partner Brigitte Smith told Deal Journal Australia.

Carnegie Venture Capital has stakes in start-ups such as Minomic International, a developer of prostate cancer diagnostic technology, and domain trading organisation Winged Media.

Innovation Capital has investments in early stage companies such as Wine Preserva, which owns a technology that can preserve the quality of wine once a bottle is opened, and CallJourney, a cloud-based technology company that can monitor and record phone calls.