TLDR:
- WEHI Ventures has established a $66 million venture capital fund, 66ten, to support medtech startups.
- 66ten aims to bridge the gap between scientific discoveries at WEHI and commercial viability in healthcare.
Victoria’s Walter & Elizabeth Hall Institute (WEHI) has launched a $66 million venture capital fund, 66ten, to support the development of medtech startups. Managed by WEHI Ventures, the fund will focus on backing pre-Seed and Seed rounds to translate scientific discoveries into commercial biotech companies in the healthcare sector. The institute, founded in 1915, is known for its research in cancer, infectious and immune diseases, developmental disorders, and healthy living. The fund has already made investments in startups based on WEHI discoveries, with a goal of delivering both patient outcomes and financial returns for investors.
Dr. Anne-Laure Puaux, CEO of WEHI Ventures, highlighted the fund’s unique position in the Australian venture capital landscape, thanks to WEHI’s contributions to medical science. 66ten aims to support researchers in the early translational stages of their projects, providing not only financial resources but also guidance to advance technologies with commercial potential. The fund has already supported projects such as a potential treatment for Prader-Willi Syndrome, a rare neurodevelopmental disorder. Prof. Marnie Blewitt, leading the research, expressed optimism about the fund’s support in accelerating drug discovery efforts to improve the lives of patients worldwide.
Overall, 66ten represents a strategic initiative by WEHI to leverage its scientific expertise and research capabilities to drive innovation in the medtech sector and bring tangible benefits to both patients and investors.
