Big cash down under

Australian biotech got a shot in the arm last week when Brandon Capital Partners unveiled the A$200 million ($156.3 million) final close of its Medical Research Commercialisation Fund 3. MRCF3 is Australia's largest-ever life sciences-focused venture fund and could seed a generation of newcos in a country that Brandon's Chris Nave said has struggled to translate basic science.

"Australia has always been very good at medical research, but we've always been very poor at translating that and making money out of it," Nave told BioCentury...