Brandon’s Medical Research Commercialisation Fund and Brandon Biosciences Fund participated in the funding round alongside Yuuwa and angel investors.
The Australian biotech firm said the funds will be used to advance its preclinical and clinical development programmes of its products under development.
These products include two intra-ocular implants to treat glaucoma and severe infections of the eye and an intra-articular product to treat osteoarthritis.
Chris Nave, managing director of Brandon Capital, said “It is a significant achievement in the current financial environment for an early stage company to have attracted this level of funding from new investors and it reflects the confidence the investors have in the quality of PolyActiva’s technology and the commercial potential of its products.”
Brandon Capital Partners makes seed and venture capital investments into emerging businesses in the life science industry.
Yuuwa, a $40m venture capital firm based in Perth, is focused on early stage companies in the of life sciences and information and communications technology sectors.
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