Three Victorian HealthTech startups have secured pre-seed funding from Breakthrough Victoria and Monash University, marking the official launch of a new $15 million fund and the university’s new commercialisation arm, Monash Ventures.
Announced on Friday, the $2.25 million investment supports Myostellar, Fyton Bio and Remagine Labs – all Monash spinouts developing cutting-edge biomedical technologies aimed at reducing pressure on the health system and improving health outcomes.
The funding has been partially sourced from Breakthrough Victoria’s $100 million University Innovation Platform, which co-invests with Victoria’s seven universities to accelerate the commercialisation of high-impact research.
Breakthrough Victoria chief executive Rod Bristow said the investments demonstrate how the University Innovation Platform is helping “build the next generation of Victorian research commercialisation”.
All of the spinouts are targeting different challenges in chronic disease and regenerative medicine.
- Myostellar is developing a first-in-class biologic to stimulate muscle regeneration in Duchenne muscular dystrophy
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Fyton Bio is advancing antibody therapeutics that target and eliminate disease-causing immune cells in autoimmune conditions
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Remagine Labs is creating wearable, electronically controlled drug delivery devices for improved chronic condition management
As of 31 July, Monash Ventures’ investment committee — comprising Monash, Breakthrough Victoria and independent venture and biotech experts — has reviewed 13 startups and endorsed 10 for investment.
Monash University vice-chancellor Sharon Pickering said the initiative demonstrates Monash’s commitment to translating research into real-world impact.
“The launch of Monash Ventures and the Monash Ventures Pre-Seed Fund marks a bold step in strengthening our impact through innovation and enterprise,” Professor Pickering said.
Fyton Bio co-founder and chief executive Chuck Silberstein said the investment would enable the company to begin discovery efforts using its proprietary GREAT platform, marking “an exciting step forward in our mission to deliver potential functional cures in autoimmunity and inflammation by deleting pathogenic immune cells.”
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