Investment Pillar: Healthcare
Venture Equity Financing for Advancing Healthcare Companies
Healthcare investment is part of our DNA here at OneVentures. Our first fund, our first investment, our first exit and our first investor returns came from OneVentures’ Partners wanting to improve the quality of life of people around the world, while generating strong returns for our investors. Now, we have even stronger ambitions to accelerate the healthcare companies of tomorrow.
We are interested in transformative technology that will deliver best-in-class patient outcomes with global reach and impact.
Healthcare Investment Cases
Testimonials
David Hoey
CEO, Vaxxas
OneVentures have been terrific to work with as a lead investor, but it’s what they add in addition to investment that has been critical to Vaxxas’ growth.
Their biotech team comes from leadership roles with hands-on industry experience spanning technology to business development. Vaxxas is tremendously fortunate – working with the OneVentures team has translated into sharpening all aspects of our development and commercialisation strategy, and actively helped us forge connections and partners with industry. I cannot recommend them highly enough.
Daniel Timms
CEO, BiVACOR
OneVentures are a unique, one of a kind investor in the venture capital world.
They put tremendous faith in their portfolio company’s teams to deliver results, and are always on hand to provide pointed advice or step in to fill organisational gaps. BiVACOR has fortunately been part of the OneVentures family for nearly 4 years now, and their unyielding support has allowed our organisation to pursue our dream of developing a practical replacement to the failing human heart. Without the OneVentures team, we would not be where we are today!
Wendye Robbins
CEO, Blade Therapeutics
I first met the OneVentures team in July 2018. They quickly impressed me with their broad knowledge and capabilities.
Shortly afterwards, they led Blade Therapeutics‘ Series C round. It has been a pleasure to build the company with the support of Paul, Sarah, Michelle, and Gabriel, and their LP’s over the past 3 years. The fund is a true value add investor with deep connections to academic institutions and opinion leaders.
Healthcare Investment Team
Dr Paul Kelly
Founding Partner & Director
| Healthcare
| Location: Sydney, AU
Paul is a Founding Partner of OneVentures, leading the Healthcare and Biotechnology practice. He serves as Fund Lead and Chair of the Investment Committee for Healthcare Fund III and is a voting member of the Investment Committees for Funds I, II, III and V.
With over 30 years of experience in biomedical innovation, Paul provides strategic guidance to portfolio companies. He is Chair of Vaxxas and a Non-Executive Director for BiVACOR and Prota Therapeutics. Previously, he served on the boards of Hatchtech (Chair, licensed to NYSE: DRL), CharmHealth (acquired by ASX: CGL), Clinical Genomics (Enterix acquired by 3TM), Blade and Find Me.
As co-founder of Gemini Genomics (Nasdaq: GMNI), he led one of the UK’s largest biotech IPOs (US$250M valuation) before its merger with Sequenom (Nasdaq: SQNM). Earlier in his career, he co-founded Agamatrix, a bio-sensing medical device company operating in the US and Southeast Asia as well as Atomera (Nasdaq: ATMR). As CEO of Orchid Cellmark (Nasdaq: ORCH), he drove a tenfold valuation increase and significant revenue growth.
Paul began his career as a researcher and endocrinologist at St Vincent’s Hospital Sydney before transitioning into biotechnology. In the US, he held executive roles in leading biotech and medical companies driving the growth of several industry leaders.
He has authored over 100 publications in leading journals and is a Non-Executive Director at the Garvan Institute of Medical Research, a member of the UNSW Medicine Dean’s Advisory Group and serves on the Advisory Board of the Australian Government’s Australia’s Economic Accelerator (AEA) program.
Paul holds medical degrees from UNSW and is a Fellow of the Royal Australasian College of Physicians.
| MBBS(Hons), MD, FRACP
Portfolio Board Roles
In the news
29 November 2023
US FDA Grants the BiVACOR Total Artificial Heart IDE Approval for First-in-Human Early Feasibility Study
Media Release
18 June 2023
Vaxxas opens world-class manufacturing facility to produce needle-free vaccine patch
News, Announcement
07 October 2021
Blade Therapeutics Announces Publication of Preclinical Evidence Supporting Neuroprotective Effects of Proprietary Calpain Inhibitor in a Rare Inherited Neurodegenerative Disease
Media Release
02 June 2021
Preclinical studies from Vaxxas and Collaborators Reveal Potential of Vaxxas’ Novel High-Density Microarray Patch (HD-MAP) to Effectively Deliver SARS-CoV-2 Spike Vaccine
News, Media Release
Anne-Marie Birkill
Co-Founder, Venture Partner & Director
| Location: Brisbane, AU
| BSc(Hons), MBA, GAICD
Portfolio Board Roles
In the news
06 November 2019
iStaySafe Acquires Find-Me Technologies, Strengthens position in the IoT Industry
Media Release
16 September 2018
VC-backed women’s health company Madorra to begin clinical trials in Australia
Media Release
13 August 2018
OneVentures invests in regional Queensland company developing treatments for autoimmune diseases
Media Release
Sarah Meibusch
Partner
| BAgrSc(Hons), M.P.S, GAICD | Location: Brisbane, AU
Sarah is responsible for sourcing life sciences companies and actively shaping their future. She applies her global executional experience and entrepreneurial passion to nurture their success. Her enterprise level leadership experience has been forged over 20 years in a wide spectrum of organisations, including start-up, private companies, ASX and NASDAQ-listed companies, a multi-national pharmaceutical company and university research organisations.
Prior to OneVentures, she was the Asian Business Development lead for Shire Pharmaceuticals (now Takeda), a global specialty pharmaceutical company. Sarah identified technologies and developed collaborations across Japan, Korea, Australia, New Zealand, Singapore and Taiwan including playing a key role in sourcing the $300M Fibrotech deal announced in 2015.
Sarah has held senior management roles at Progen Pharmaceuticals, The University of Queensland’s QAAFI institute, Beef CRC and Pyxis Genomics. From 2011-2017 she led the development of the new UQ QAAFI research institute from 32 people to 450 people and a financially profitable position within 5 years. This included leading the negotiation of a complex $70+M staff transfer and research agreement for QAAFI between the University of Queensland and the Queensland Government. In 2012, Sarah spearheaded the IP asset assignment and company wind-up of 20 year $168M Beef Co-operative Research Centre, involving five universities across five state jurisdictions, MLA, CSIRO and Meat and Lamb NZ and pastoral companies. At Progen Pharmaceuticals, Sarah worked collaboratively with the CEO and CFO over several years to secure a total financing of ~$125M via five capital raisings for oncology drug development, and in 2008 led the $22M acquisition of an oncology drug discovery company.
Sarah has a strong understanding of the pharmaceutical, medical device and healthcare industries including key inflexion points, intellectual property, regulatory and reimbursement strategies, business development options and strategic product management. She combines this with the ability to understand scientific information quickly and build credibility with technical experts and industry players. She is passionate about commercialising new technologies, and has the strategic vision and positive energy to deliver under tight timeframes in a team environment.
Sarah is a graduate of the Australian Institute of Company Directors (GAICD) and currently holds directorships with Kira Biotech, QAAFI Advisory Board and Life Sciences Queensland. She holds Bachelor level science qualifications from the University of Queensland and a Masters from Cornell University and has completed a postgraduate course at Harvard Business School focusing on negotiation and decision making.
Dr Jeannie Joughin
Venture Partner
| Healthcare
| Location: Melbourne, AU
Jeannie is a Venture Partner at OneVentures, supporting healthcare portfolio company operations and strategic initiatives.
She serves on the board of ImmVirX (deal lead), BiVACOR Pty Ltd, BiVACOR Australia and Hatchtech, and has previously held board roles with BiVACOR Inc (as Chair and Director).
A biopharmaceutical and medical device leader with 20+ years of global experience, Jeannie has held senior executive and advisory roles in Australia and the US. Her expertise includes business development, strategic partnerships, and operational leadership across research, clinical trials, and commercial management.
In the US, she led global business development, licensing medical device technologies to major pharmaceutical companies and securing milestone and royalty payments. Her career includes roles with organisations such as Bristol-Myers Squibb, Mayne Pharma, CSL, and Enable Injections.
Jeannie holds a PhD and a Bachelor of Science (Hons) in Immunology from Monash University and a Diploma of Marketing from the Melbourne Business School. She currently serves as a Non-Executive Director for ASX-NASDAQ listed Immuron and ASX-listed Argenica.
| BSc(Hons), PhD
Dr Lu Li
Investment Analyst
| PhD, Pathobiology | Location: Sydney, AU
Dr Lu Li is an investment analyst in OneVentures’ Healthcare team.
Lu supports the Healthcare team by performing quantitative and qualitative research to inform investment, valuation and exit decisions. Lu also assists with deal screening and performing due diligence whilst also reporting and monitoring existing and prospective fund investments.
Lu regularly practices meditation and loves to study herbal medicine. She also paints and sketches in her free time.
Lu brings over 7 years of biomedical research experience in academia to the OneVentures team. She has a strong technical background on research & development in general, and always follows the latest research progress.
In addition, Lu brings her depth of experience for financial modelling and equity research, along with her keen interest in finance.
Prior to joining with OneVentures, Lu joined CITIC’s Biotech Equity Research area as an intern. She later worked as a scientific writer and technical consultant at DeepTech, a new media platform, where she covers biotech startups and latest biomedical research, and simultaneously completed level 2 of the CFA.
Lu received her Ph.D in Pathobiology from the University of Connecticut in the US, where she focused her research on infectious disease pathogenesis.
Criteria for Entrepreneurs
To fit our mandate, your company must be:
- Developing products or technologies that are first or best in class
- Innovative solutions that meet a large unmet medical need
- Clinical stage or less than a year from first in-human studies
- Privately owned and unlisted
Funds allocated
Healthcare Fund III
We invest in entrepeneurs and technologies that have the potential transform healthcare and health outcomes globally with a focus on therapeutics, devices and diagnostics at or near clinical development. Our healthcare team look to partner with founders and CEOs who have a clear commercial, regulatory and reimbursement pathway, who have strong ESG principles as a foundation of their business.
Licenced under the Commonwealth Government’s Biomedical Translation Fund (BTF) programme, the fund targets investments of $10 to $20 million per company in Australian domiciled companies. The OneVentures team provides support to drive these opportunities through the clinical, regulatory and reimbursement processes to achieve prominence in global markets.
Key Features
Funds Allocated
Innovation & Growth Fund II
The capital for this Fund has been fully deployed.
The Fund invested in early and later stage technology and healthcare companies seeking growth and development capital including for offshore expansion – particularly those with a strong product market fit and a clear path to revenue.
Funds Allocated
Innovation Fund I
The capital for this fund has been fully deployed.
Backed by the Commonwealth Government’s Innovation Investment Fund programme, the fund invested in early-stage Seed and Series A technology and healthcare companies.
Investment process
A pathway to partnership.
01. Apply
Do you believe your company is a good fit to our investment mandate?
We’re excited to learn more about your business and what you are building. Apply now, and one of our team will be in contact.
BROADENING THE SCOPE OF IMPACT
There are many different types of companies, so we provide many different solutions for raising capital.
Responsible investment
We believe that the world’s most transformative companies will be those that benefit society.
That’s why we apply a Responsible Investment filter to all prospective portfolio companies, especially seeking those that demonstrate strong ESG principles.
Apply for
Clinical Healthcare Investment
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