A laboratory technican of the company Icon Genetics prepares proteines from Tobacco plants (Nicotiana benthamiana) for weighing in a laboratory in Halle, August 14, 2014. Icon Genetics develop a technology to mass produce Ebola vaccine with the help of to
In Photo: A laboratory technican of the company Icon Genetics prepares proteines from Tobacco plants (Nicotiana benthamiana) for weighing in a laboratory in Halle, August 14, 2014. Icon Genetics develop a technology to mass produce Ebola vaccine with the help of tobacco plants. REUTERS/Axel Schmidt REUTERS/Axel Schmidt

Brandon Capital Partners, one of the leading science venture investing firms in Australia, has closed a deal for the Medical Research Commercialisation Fund (MRCF), worth AU$200 million. This fund, so-called as the MRCF3, is the largest fund ever provided for the life sciences research in Australia.

MRCF3 is supported by current investors of the MRCF, namely AustralianSuper and Statewide Super, as well as new collaborators HESTA (existing Brandon investor), and Hostplus. The framework of the MRCF is innovative and wide in scope as it extends to over 50 hospitals and medical institutes that will grant the investors access to their latest medical discoveries and laboratories.

Approximately AU$50 million will be used for about 20-30 early seed stage investments in auspicious biotechnology or medical device technologies. The most successful researches out of these initially funded efforts, together with existing MRCF investment, will be the recipients of the remaining AU$150 to further their studies and enable them to perform testings. Under this new programme, the investors will have an option to release more funds to researches which their companies think would pose the most promising results in the future.

“We believe that there is significant potential in Australian life sciences, which has always outperformed in terms of research innovation, but has fallen short when it comes to commercialising those discoveries,” Dr Chris Nave, principal executive of the MRCF and managing director of Brandon Capital, said. “This failing has been largely attributed to the lack of sufficient early stage investment capital and access to hands-on investment expertise to guide the development and commercialisation of these medical technologies.” Furthermore, he noted that the success of the MRCF funds in the past seven years can testify that the unique investment scheme has overcome these shortcomings.

The chairman of the MRCF, Alan Stockdale, said that the unique model of the MRCF is showing proof of its success. He backs this up by saying that the procurement of one of MRCF’s first investments, Fibrotech Therapeutics, by Shire Plc, was a milestone for the biotech division of Australia. He adds that the huge acquisition was a testament that their investment model is effective in supporting the medical advancements of the country and subsequently benefit patients, the economy and investment returns.

This new fund is the third to be promoted by Brandon Capital Partners. The first fund was raised in 2007 and the second one (MRCF2) in 2011. The investment firm also raised about AU$50 million in 2008 for the Brandon Biosciences Fund 1. The total funds raised by Brandon Capital is estimated at AU$251M. The Australian life sciences companies that the firm helped through the years include Vaxxas, Global Kinetics Corporation, PolyActiva, Osprey Medical Inc. and Spinifex Pharmaceuticals.

To contact the writer email rinadoctor00@gmail.com

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