Nexus6, an Auckland-based medical devices company, has closed $4.6m of new investment to support international expansion of its Smartinhaler range.
Australian life sciences investment group, BioScience Managers, contributed $3m. Existing shareholders have contributed $1.6m so far, with a final close in March expected to take the round to a total of $5m.
Existing shareholders include K1W1, Ice Angels Nominees, Cure Kids Ventures, NZ Venture Investment Fund (SCIF) and individual investors.
Nexus6 has successfully sold its products to large international pharmaceutical companies for use in clinical trials. The core Smartinhaler range allows physicians and patients to monitor real life use of inhaled treatments for respiratory conditions, so doctors can remotely ensure users are keeping to their prescribed programmes.
Now it plans to expand globally and increase its sales and marketing capabilities with the new funding.
“Smartinhaler represents a new paradigm in the management of asthma and respiratory diseases. We now have the resources to take this product to the world and continue to build Nexus6 into an international leader in remote patient monitoring solutions," said founder Garth Sutherland.
Nexus6 marks BioScience’s second investment from its Asia Pacific Healthcare Fund II. The AU$55m fund is still open to investors, with a final close expected in September.
"Nexus6 technology holds the key to not only ensuring better patient outcomes, but also in minimising wastage and costs of treatment, by ensuring that asthma sufferers take only what they need and when they need it," said BioScience Managers managing director, Jeremy Curnock Cook.
"In the current climate, technologies that enable remote monitoring of patients and support the delivery of better health outcomes, for less cost and with less wastage, are extremely important."