PolyActiva eyes $9.5m

Feb 25, 2013 •

Australia-based biotech PolyActiva receives AUS$9.2m ($9.5m) series B from a consortium of new and existing investors to develop glaucoma and osteoarthritis treatments.

PolyActiva, a joint venture biotech between the Bionic Ear Institute, the Centre for Eye Research Australia, and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), has raised AUS$9.2m ($9.5m) in a series B round that saw new investors join existing backer the Medical Research Commercialisation Fund (MRCF).

The latest round also saw investment from the Brandon Biosciences Fund 1, early-stage venture firm Yuuwa Capital, and a number of angel investors. The MRCF previously raised AUS$2.4m ($2.47m) of financing for Melbourne-based…

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