Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Biotech start-up Clarity Pharmaceuticals raises $1.1m on blue sky, backed with revenue

2/05/2014 by

W1siziisijiwmtqvmtavmjgvmtuvndivntuvmtuxl2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Biotech start-up Clarity Pharmaceuticals has just raised $1.1 million in a round dominated by Sydney Angels, thanks to a rare combination of existing revenue – $500,000 projected in calendar 2014 – with the blue-sky potential that’s customary in the sector.

Clarity uses patented diagnostic and imaging technology developed by the Australian Nuclear Science and Technology Organisation (ANSTO) and the University of Melbourne, which it claims can be used to “personalise” and increase the effectiveness of targeted antibodies-based therapies.

“There might be a cancer drug which has been tested on a general population and deemed ineffective,” explains Clarity’s managing director Matt Harris.

“We can perform diagnostic tests on that trial population, which might show the drug travelling to the tumour in 100 out of 200 cases. Those 100 could then be selected for further treatment by the drug, so it’s got a much better chance of being effective.”

Harris founded the company in 2010 after raising $650,000 from individual investors, many of them medical professionals. The new fundraising was lead by Sydney Angels member Alan Taylor, who became chairman last November after a decade of investment banking. Much of that was spent at boutique, Inteq, raising money in Australia for US-owned life sciences companies.

This article has been extracted from http://www.brw.com.au, please click on this link to read the article in full http://www.brw.com.au/p/entrepreneurs/biotech_start_with_clarity_pharmaceuticals_BUJGfyJG8HBianOVD9XV7O

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

For more information please visit www.montash.com

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtcvmdkvmjkvmdgvmtmvmjkvmjgyl1vudgl0bgvkigrlc2lnbiaomjuplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Are PSLs a Blocker or an Enabler?

2017-10-02 11:00:00 +0100

The use of a Preferred Supplier List (PSL) was intended to support and strengthen relationships and performance between organisations and their third party suppliers. As the technical landscape continues to evolve at rapid rate recruitment and demand for new skills becomes more intense. Are PSLs still the solution or an obstacle to sourcing the right talent? The traditional PSL A dedicated list of partners intended to guarantee quality and availability ...

W1siziisijiwmtcvmdkvmjevmdgvndmvmduvmtmxl1vudgl0bgvkigrlc2lnbiaomjmplmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Why do we punish the victims of hacking?

2017-09-21 09:00:00 +0100

Hacks occur every 39 seconds, with 95% of them targeting governments, retailers and the tech industry. If the hackers are caught, they'll face prison time under the Computer Misuse Act. More often than not, the businesses who are victims of those attacks expose themselves to punishment of their own. The laws that determine the duty of protection owed to businesses and their customers is both vague and broad, making them question just how much protection...