, though valuations have slid and share prices have taken a hit amid this year’s global market selloff. The ASX health care index is down by 7 per cent over the past year, with even giants like CSL and ResMed declining over the past 12 months.Burnell said there is still plenty of cutting-edge research that needs funding to produce long-term value beyond the pandemic. Tenmile is willing to be patient with its holdings, looking at investment horizons from a couple of years to a decade.
The fund’s maiden investments are focused on relatively new therapeutic areas, including personalised cancer treatments and the use of psychedelics and medicinal cannabinoids.The first Australian companies to join the portfolio are Emyria, which is working on a psychedelic-assisted treatment for post-traumatic stress, and Carina Biotech, developing ‘CAR-T’ therapies that harness the human immune system to help fight cancer.
“There’s no denying the last couple of years has been very challenging for small innovative biotechs,” she said.State and federal governments have long been the major source of funding for research-focused businesses, with only a few local investors running funds exclusively for healthcare investments.
MsEmmaK Healthcare? Two words, not one. And neither should be associated with profit, but there we are. WTF, Australia?
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