BLUE SKY CASHES IN HATCHTECH INVESTMENT

Written on the 15 September 2015

BLUE SKY CASHES IN HATCHTECH INVESTMENT

BLUE Sky Alternative Investments (ASX:BLA) has marked a milestone in its venture capital division, with the exit of head lice treatment company Hatchtech.

The Melbourne-based pharmaceutical company has entered into a commercial agreement with Dr Reddy's Laboratories in India. The deal is expected to be valued at up to $278 million.

This will be Blue Sky Venture Capital's first exit from its VC2012 portfolio, after investing in Hatchtech in 2013 as part of a $12 million syndicate led by OneVentures.

Along with support from existing backers, the investment allowed the company to complete the final stage of its clinical trial for Xeglyse - a treatment to kill both lice and eggs without the need for a comb.

Blue Sky Venture Capital investment director Dr Elaine Stead (pictured) says the deal is a big win for private capital markets.

"This is a huge deal for Australian venture capital, and for local talent," Stead says.

"It is also a great example of how collaborative the VC industry is in Australia which is a benefit to both investors and the investee company.

"We provided growth capital and, just as importantly, networks and expertise, bringing more smart people and useful networks to the table.

"Without a doubt, we have exceptional and world-class talent in Australia and we are starting to see excellent successes in Australian venture-backed companies that are delivering great results."

Stead says Blue Sky has a policy of taking an active role in all its investee companies to support their expansion.

 


Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter