Cardihab, which is part of CSIRO’s new “ON” start-up accelerator, is the first CSIRO invention to be backed by Australian universities. Uniseed – a fund backed by the University of Queensland
, the University of Sydney
, the University of Melbourne
, and the University of New South Wales
– contributed $500,000 of the $1.35m seed funding.
The deal continues KWM’s work for CSIRO, which is a longstanding client.
“KWM has a longstanding relationship with CSIRO, and we are delighted to have advised Cardihab on this significant transaction which supports CSIRO’s vision of commercialising scientific technologies that create tangible and high-impact solutions in the health sector,” KWM partner Scott Bouvier said. “Cardihab is expected to deliver strong economic benefits, which will be reinvested into new science to support the innovation cycle.”
Bouvier led the KWM team. He was supported by senior associate Anthony Boogert.
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King & Wood Mallesons (KWM) has acted in the spin-out of Cardihab from The Commonwealth Scientific and Industrial Research Organisation (CSIRO) and its Series A financing.