VC funds are moving further into the clinical trials space.
They're backing new technology start-ups such as HealthMatch which has developed an app allowing patients or "users" to identify relevant trials and then sign up to participate.
This will help grow the $1b+ pa Australian industry - and the strategic drug cold storage logistics business run by Cryosite.
According to a report in today's Australian Financial Review HealthMatch has raised $6m in a round led by venture capital funds Square Peg and Tempus Partners.
Square Peg co-founder Paul Basset is joining HealthMatch's board.
Basset says he was impressed that founder and CEO Manuri Gunawardena had put aside her dream to become a surgeon in order to hit the entrepreneurial road, once she observed how old-school the clinical trial system was.
Basset says the clinical trials market is "broken".
‘‘The process of pharmaceutical companies and their partners finding patients for their trials, and patients finding out about trials and getting onto them, is very inefficient, driven by a lot of legacy processes and legacy systems.’’
Ms Gunawardena says she plans to use the money to beef up her team of six, recruit more drug trials onto the site, and get more patients on the platform across Asia-Pacific and ultimately the United States.
The new commercial partnership means the platform can list clinical trials from Roche directly, rather than just off public registries, and it will take a cut each time a patient is successfully matched to one of their trials.
So far 2000 of those 7000 patients have been ‘‘matched up’’ with an appropriate clinical trial.
Other HealthMatch backers include WhatsApp founding team member Anton Borzov, Google director of litigation Catherine Lacavera and former chief executive of Goldman Sachs Australia Stephen Fitzgerald.
I think its a plus for Cryosite that these "heavy hitters" are recognising potential in the clinical trials space.
Another VC fund - CPE/CHAMP Private Equity - controls Cell Care Australia, CTE's #2 ranking shareholder.
It may not be CPE. It may not be Square Peg. But one day I expect a "heavy hitter" to knock on the boardroom door of Cryosite.
- Forums
- ASX - By Stock
- CTE
- Paul Basset moves on CTE trials space
CTE
cryosite limited
Add to My Watchlist
0.00%
!
70.0¢

Paul Basset moves on CTE trials space
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
|
|||||
Last
70.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $34.16M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1404 | 68.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
75.0¢ | 2057 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 0.600 |
1 | 107000 | 0.545 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.750 | 2057 | 1 |
0.795 | 1965 | 1 |
0.800 | 10000 | 1 |
1.100 | 3333 | 1 |
0.000 | 0 | 0 |
Last trade - 16.21pm 07/08/2025 (20 minute delay) ? |
Featured News
CTE (ASX) Chart |
Day chart unavailable