BioScience Managers Pty Ltd (formerly IB Managers) is a leading life sciences investment firm, headquartered in Melbourne, Australia. Established in 2003, BioScience Managers offers a global, multi-disciplinary team, bringing an international perspective together with the track record, networks and expertise required to convert that perspective into informed, high return investment decisions.  We operate a high value-add model, providing assistance and support to portfolio companies via our global team and international network of independent industry advisors. With combined experience of over 170 investments, more than 40 IPO’s/ reversals in Europe, the USA and Australia, and a diverse skillset specific to the bio-based industries, we aim to provide investee companies with significant value-add over and above capital invested.  Alongside our funds management business, Phillip Bioscience Advisory provides specialist corporate advisory services to healthcare and life sciences companies.

BioScience Managers Limited

GlaxoSmithKline today announced the launch of Action Potential Venture Capital (APVC) Limited, a new $50 million strategic venture capital fund that will invest in companies that pioneer bioelectronic medicines and technologies.   The fund’s first investment will be in SetPoint Medical, a California company considered a trailblazer in creating implantable devices to treat inflammatory diseases.  The fund complements the work of GSK’s Bioelectronics R&D unit, which was established in 2012 after a two-year effort to seek out and engage the most promising researchers in this emerging area of science.   The name of the fund comes from electrical signals called action potentials that pass along the nerves in the body. Irregular or altered patterns of these impulses may occur in association with a broad range of diseases.   GSK believes that miniaturised devices, or bioelectronic medicines, can be designed to read these patterns. The devices could be designed to interface between the peripheral nervous system and specific organs to read, change or generate electronic impulses that help treat disorders as diverse as inflammatory bowel disease or rheumatoid arthritis; respiratory diseases such as asthma and COPD and metabolic diseases including Type 2 diabetes.  The field of bioelectronic medicines is in its very early stages. GSK’s ambition, through collaboration with scientists globally, is to have the first medicine that speaks the electrical language of our body ready for approval by the end of this decade.“We want to help create the medicines of the future and be the catalyst for this work,” said Moncef Slaoui, chairman of R&D and architect of GSK’s early stage investment strategy. “GSK can play the integrating role that is needed to drive this new type of medical treatment all the way from the bench to the patient and this fund is a key part of our efforts.”  Action Potential Venture Capital intends to build a portfolio of five to seven companies over the next five years. The fund will focus investments in three areas:  - New start-up companies that aim to pursue the vision of bioelectronic medicines - Existing companies with technologies that are interacting with the peripheral nervous system  through first-generation devices that can stimulate or block electrical impulses - Companies advancing technology platforms that will underpin these treatment modalities  Action Potential Venture Capital will be based in Cambridge, Massachusetts and managed by a small, dedicated team. The fund has named Imran Eba as its first partner. Imran will move from GSK’s Worldwide Business Development organisation and work closely with the Bioelectronics R&D unit.

Action Potential Venture Capital

Medtronic provides healthcare technology solutions for complex and challenging conditions. They deliver treatments and therapies for the lungs, brain, dental, diabetes, ENT, heart, gastrointestinal, orthopedic, urinary, and women's health. The company's technologies and therapies treat 70 different medical conditions and include patient monitoring systems, robotic surgery, insulin pumps, cardiac devices, and more. Medtronic delivers innovative technologies that change people's lives through to its extensive knowledge, insatiable curiosity, and desire to assist everyone in need.

Medtronic

Saluda Medical

Saluda Medical was established in 2013 with the goal of commercializing four years of research from NICTA, Australia’s information communications technology center of excellence. The company's team is made up of engineers, clinicians, and seasoned professionals with experience in bringing medical technologies to life.

Saluda Medical is a global medical device company revolutionizing the field of neuromodulation with an advanced portfolio of therapies driven by closed-loop technologies designed to treat debilitating neurological disorders. The company's flagship product, the Evoke System, is a groundbreaking spinal cord stimulation (SCS) system that automatically adjusts therapy based on precise measurements of the nerves' response to stimulation over 4 million times per day. This "closed-loop" technology maintains optimal pain inhibition, providing continually optimized therapy tailored to each patient's unique spinal cord activation.

Saluda Medical Announces $150M Equity Financing Led by Wellington Management with Fidelity Management & Research Company and TPG

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Saluda Medical Raises $150M in Equity Financing

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Australia's Saluda Medical closes $150M equity financing led by Wellington Management

Saluda Medical Pty Ltd

Why are there so many Australian med-tech companies in Minnesota?

Transforming neurological care with innovation

Neurostimulation Tech

Saluda Medical Announces Presentation of Two Chronic Pain Biomarker-Based Analyses at ASPN 2024 Annual Conference

Saluda Medical is a global medical device company revolutionizing the field of neuromodulation with an advanced portfolio of therapies driven by closed-loop technologies designed to treat debilitating neurological disorders. The company's flagship product, the Evoke System, is a groundbreaking spinal cord stimulation (SCS) system that automatically adjusts therapy based on precise measurements of the nerves' response to stimulation over 4 million times per day. This "closed-loop" technology maintains optimal pain inhibition, providing continually optimized therapy tailored to each patient's unique spinal cord activation.
The Evoke System received FDA approval in March 2022 for treating chronic intractable pain of the trunk and/or limbs, including pain associated with failed back surgery syndrome, intractable low back pain, and leg pain. The approval was based on the pivotal EVOKE study, the first double-blind randomized controlled trial for an SCS system, which demonstrated the Evoke System's superiority over open-loop SCS in pain relief and improvements in quality of life measures like disability, mood, sleep, and health-related quality of life. Notably, the 24-month results published in JAMA Neurology in January 2024 showed durable clinical outcomes with no explants due to loss of efficacy.
After a limited commercial release in 2022, Saluda Medical expanded the Evoke System's availability in 2023, propelled by a USD 150 million equity financing round led by Wellington Management, Fidelity Management & Research Company, and TPG in April 2023. The company also redomiciled as Saluda Medical Inc., a Delaware corporation, that year. In chronic pain, a debilitating condition affecting over 19 million Americans, the Evoke System offers an innovative approach by automatically self-adjusting therapy to optimize each patient's spinal cord activation.

Aleva Neurotherapeutics is a medical device company specializing in deep brain stimulation (DBS) systems for treating neurological disorders such as Parkinson's disease and essential tremor. Based in Lausanne, Switzerland, the company was founded as a spin-off from the Swiss Federal Institute of Technology. Aleva pioneered the development of directional DBS leads with its flagship product, the directSTIM DBS system. This technology aims to deliver more precise electrical stimulation to targeted areas of the brain, potentially improving therapeutic benefits and reducing side effects compared to traditional omnidirectional DBS leads.
The directSTIM system features a novel 12-electrode lead design based on microelectromechanical systems (MEMS) technology. This allows for smoother electrode surfaces and customized shapes optimized for implantation in the brain. The system also incorporates 24 independent current sources, enabling greater flexibility in programming and personalizing stimulation patterns to each patient's unique needs. In May 2024, Aleva received CE marking for the directSTIM system, allowing its commercial launch in Europe.
Aleva's expertise in DBS technology is reflected in its robust intellectual property portfolio, comprising 13 patent families and 90 granted patents related to DBS for neurological and psychiatric disorders. The company aims to transform DBS therapy by combining advanced technologies with shared clinical data to improve surgical experiences and patient outcomes.

Aleva Neurotherapeutics

BrainsWay is a global leader in advanced noninvasive neurostimulation treatments for mental health disorders. The company has developed Deep Transcranial Magnetic Stimulation (Deep TMS), a proprietary technology that uses magnetic pulses through a patented H-coil helmet to stimulate deeper and broader brain regions associated with various conditions.
Deep TMS received FDA clearance for treating major depressive disorder (MDD) in 2013, making BrainsWay the first and only TMS company with clinical evidence demonstrating efficacy for this indication. In 2018, the technology obtained FDA clearance for treating obsessive-compulsive disorder (OCD), and in 2021, it was cleared as an aid for short-term smoking cessation.
The Deep TMS treatment is administered through a series of daily sessions over four to six weeks, with each session lasting around 20 minutes. It has been investigated in over 30 randomized clinical trials worldwide, demonstrating its safety and effectiveness. As of April 2021, BrainsWay announced that 100,000 patients have been treated globally with Deep TMS.
In addition to the FDA-cleared indications, BrainsWay is conducting ongoing or planned clinical trials exploring Deep TMS for various psychiatric, neurological, and addiction disorders. The company's commitment to clinical research and building upon its substantial body of evidence positions it as a leader in advancing neuroscience through non-invasive solutions.

Brainsway

Cala Health is a bioelectronic medicine company that has developed the Cala kIQ system, a wearable neuromodulation device that delivers transcutaneous afferent patterned stimulation (TAPS) therapy for the relief of hand tremors in adults with essential tremor and Parkinson's disease. The Cala kIQ system comprises a stimulator, a band with integrated electrodes, and a base station. It utilizes a calibrated TAPS output pattern adjusted to match the patient's unique tremor frequency, providing personalized stimulation to the median and radial nerves of the wrist.
The Cala kIQ system received 510k clearance from the US Food and Drug Administration (FDA) in November 2022 and was launched for human use in June 2023. The device offers treatment sessions of 40 minutes, with a wristband life of 90 days and a shelf life of three months. Patients can review their therapy session results through the MyCala.com patient portal and share them with healthcare providers.
Cala Health has reported positive clinical data demonstrating the effectiveness of TAPS therapy in reducing tremors and improving activities of daily living for essential tremor patients. The company has secured reimbursement and coding from various commercial and government payors, including Medicare, to improve patient access to the therapy.

Cala Health

Cardionomic is a medical device company based in Minneapolis that has developed the Cardiac Pulmonary Nerve Stimulation (CPNS) System, an investigational device designed to treat patients suffering from acute decompensated heart failure (ADHF). The CPNS System consists of a stimulation console and an endovascular catheter that delivers targeted stimulation to the cardiac plexus located in the right pulmonary artery.
The company's approach is founded on the principle that stimulating the autonomic nerves improves a patient's clinical condition by triggering a rebalancing of the autonomic system, shifting it from an imbalanced state into a cycle that enhances the patient's condition even after the therapy is completed. The CPNS System has demonstrated the ability to increase cardiac contractility without significantly affecting heart rate in heart failure patients with reduced ejection fraction.
In January 2024, Cardionomic announced the completion of enrollment in the STIM-ADHF and STOP-ADHF pilot studies, which evaluated the safety and performance of the CPNS System in treating ADHF patients. A total of 35 patients were treated across seven countries. Preliminary results suggest that the CPNS therapy may address the unmet need for more effective treatment options for hospitalized heart failure patients. The pooled data from these studies is planned for publication in early 2024.
The CPNS System leverages engineered electrode surfaces from Pulse Technologies, Inc. to deliver durable electrochemical performance for the neural and cardiac interfacing applications.

Cardionomic

Charco Neurotech was founded in 2019 by Lucy Jung, an industrial designer who was inspired to develop assistive devices for Parkinson's after her own experience as a patient. The CUE1 is a small plastic disc with an electric motor that vibrates at a high frequency in a specialized pattern. This pattern, proven through research, can disrupt the overactive brainwaves that cause Parkinson's symptoms, allowing for improved movement.
The CUE1 attaches to the user's sternum using medical adhesive and is relatively inexpensive compared to other treatments like deep brain stimulation implants. Over 2,000 people in the UK are currently using the CUE1, with a waiting list of almost 20,000 across 120 countries as of March 2024. Charco has raised over USD 10 million in funding and grants, employing around 38 people across the UK, South Korea, and the US.
The device is accompanied by a smartphone app that enables users to personalize the stimulation settings and track their symptoms. Charco aims to obtain regulatory approvals for the CUE1 to be prescribed through healthcare systems like the NHS. In April 2023, Addenbrooke's Hospital in Cambridge became the first hospital to trial the device on inpatients with Parkinson's.
Key customers and partnerships
As of August 2023, over 1,700 people are benefiting from the CUE1 in the UK, and there is a waiting list of over 17,000 people worldwide. Charco has partnered with Dr. Alistair Mackett, a consultant geriatrician at Cambridge University Hospitals, to conduct trials and research on the device's effectiveness.

Charco Neurotech

Companies that offer solutions for pain management, neuropathies, and related disorders and migraines.

Companies that provide solutions for Parkinson's disease, epilepsy, and speech and movement disorders.

Companies that offer treatments for depression, Alzheimer's, and other mental health-related disorders.

Companies that offer solutions for heart-related medical issues such as acute decompensated heart failure and high blood pressure.

Companies that offer solutions for urinary or fecal incontinence, autoimmune diseases and other functional impairments

Companies that offer solutions for hearing or vision impairment, sleep-related conditions, and other disorders, including obesity treatments.

Saluda Medical

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