Former Australian prime minister Malcolm Turnbull and his wife have invested in the €18M funding round of the Australian health-tech startup HealthMatch through their family office. The funding round, which follows a $6M Series A announced in November 2019, will be used to grow HealthMatch’s team to continue developing the product, and to push market launch and strength in the Asian market.
HealthMatch: solutions for the $1B clinical trials industry
Founded in 2017, HealthMatch matches upcoming clinical trials with patients who meet the specific requirements and want to be part of it. Thanks to the experienced user base’s exponential growth (from 8,000 people in February 2020 to 80,000 nowadays), the company is now placing some 2,000 people into clinical trials each month, for treatments tackling everything from cancer to eczema to endometriosis. Despite the Covid-19 crisis has raised awareness and relevance for this pressing issue to the general population, the need has always been there. So many people put their lives hopes into these clinical trials’ success, even though many times they do not even know about their existence. The company’s platform closes this gap and this match not only gives patients access to potentially revolutionary new treatments that may help them live better or even save their lives but helps also the industry to find eligible candidates and to speed up the entire drug development process
Turnbull Family Office: Investing in Australian Startups
Malcolm Turnbull and his wife, former chair of the biotech company Immutep, are not only investing in a successful-potential company but in a game-changing platform to foster research and pharma solutions for many others. They own a big fortune due to many successful operations and investment positions in quite profitable funds. Among them, it stands out the deal of OzEmail, one of Australia’s first internet service providers. Malcolm reportedly bought a stake for $500,000 in 1994 and sold it for $57m five years later.
Source (1): SmartCompany. 08.12.2020
Picture Source: Freepik
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