Proto Axiom Secures $20M to Boost Australia’s Biotech Innovation

Proto Axiom, an Australian biomedical technology incubator, has secured $20 million in the initial close of its targeted $30 million Series B funding round. This investment aims to enhance Australia’s biotechnology sector by retaining intellectual property (IP) domestically and fostering innovation.

Established in 2021 by CEO Anthony Liveris and Chairman Tristan Edwards, Proto Axiom focuses on supporting early-stage biotech ventures through resources, mentorship, and funding. The incubator distinguishes itself by operating as a holistic enterprise, offering technical oversight, administrative support, future financing, and hands-on research assistance to integrate genomics into healthcare effectively.

The recent funding will enable Proto Axiom to continue strategic investments in innovative biotech startups. Notable investments include Endo Axiom, which is developing an oral insulin delivery method for Type 1 Diabetes, and Swan Genomics, a University of New South Wales spin-out working on rapid, accurate long-read DNA sequencing technology.

For InGeNA members, Proto Axiom’s commitment to retaining IP within Australia and its support for groundbreaking genomic technologies align with national efforts to advance genomic healthcare. These developments underscore the importance of fostering local innovation to achieve better health outcomes.

For more information, read the full article here. Follow InGeNA for updates on the genomics industry worldwide.