SPB helps buy med-tech start-up stake

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Squire Patton Boggs has played a key role as an investor backs an Australian med-tech start-up.

The global firm has advised Kong Clan on its investment into REX Ortho. The transaction is structured into four tranches, which will allow the investor to acquire just under half of the start-up.

Squire Patton Boggs said that the transaction also involved the negotiation of a shareholder agreement, researcher deed with Curtin University, and several other transaction documents.

REX Ortho is developing a new orthopaedic screw that’s described by the top law firm as possibly transformative for patient outcomes following complex bone-injury surgeries. “The innovative removable, expandable titanium screw aims to improve patient outcomes in complex surgeries involving hip fractures, bone injuries and other spinal conditions,” Squire Patton Boggs said.

The top firm’s team was headed by corporate partner Simon Rear, who was supported by counsel Fiona Ellet and Dominique Hartfield, senior associate Fiona Meaton, and associate Connor McClymont.

“Australia is a front runner in the medical and scientific fields and it is very pleasing to see a home-grown product receiving this investment and support. We look forward to seeing the company flourish,” Rear said.

REX Ortho, which was advised by the Grant Leigh Group, is looking to partner with a manufacturer as it brings its product to market.

Simon Rear