Mimetic is a MedTech venture foundry. It co-founds and operates medical device companies alongside exceptional clinical innovators to bring cutting edge medical technology to market faster. Through venture studio methodology, Mimetic commercialises research in partnership with clinicians and creates a solid operating model for success.
Mimetic is actively seeking foundational investors for its current seed equity round. Expressions of interest are welcome from sophisticated and wholesale investors for participation in the foundry and future investment rights in generated portfolio companies. Funds from this seed round will support the progression of the first two early-stage innovations that have the potential to literally save lives.
Forging the Next Generation of Australian MedTech Ventures
Australia boasts a vibrant and innovative medical technology landscape. Mimetic’s MedTech Foundry is at the forefront of nurturing early-stage technologies into companies with the potential to revolutionise healthcare.
Innovative medical technology is crucial for advancing the diagnosis and treatment of medical conditions such as stillbirth, cardiovascular diseases, and neurodegenerative disorders, impacting countless lives.
These groundbreaking technologies are often developed by clinical innovators, physicians, or academics in our hospitals and universities, addressing unmet clinical needs and driving the development of tomorrow’s solutions.
Bridging the Gap: From Research to Market
Australia excels in world class medical research, backed by strong government incentives and programs, totally north of $8 billion in annual investment. Yet despite these fertile conditions, Australia lags behind its peers in translating new technologies into clinical practice and patient impact.
Current commercialisation pathways for clinical innovators focus mainly on advice and education, expecting clinical innovators to develop entirely new skills, leave clinical practice and take on incredibly high personal and professional risk to fulfill their dreams of medical device development and new venture building.
The result? Low participation and poorly formed new ventures that struggle to gain commercial momentum.
And lifesaving medical devices that never reach patients.
Mimetic – A MedTech Venture Foundry
Mimetic was founded to address this fundamental gap in the market, offering clinical innovators an alternative commercialisation pathway.
Mimetic is Australia’s only MedTech focused foundry that partners with clinical innovators to co-found and run medical device companies. Inspired by the venture studio operating model, Mimetic builds new medical device companies around intellectual property assets, rapidly assessing the commercial viability upfront, before investing and forming experienced multidisciplinary teams to kick start initial development and de-risk the commercialisation process.
Once critical development milestones have been achieved, the technology is spun out to form a new entity as a portfolio company under Mimetic, with a dedicated specialised team and a mandate to take the medical device to market and/or seek acquisition by a market leader.
Large multinational medical device companies are programmatic acquirers, holding over $300 billion in dry powder (cash and cash equivalents), according to McKinsey. This year alone, medtech corporates have acquired:
- Shockwave Medical, a company that develops a medical device that treats calcium deposits in coronary and peripheral arteries. US$13.1 billion by J&J.
- Axonics, a device that treats urinary and bowel dysfunction. US$3.7 billion by Boston Scientific.
- Sonio, an ultrasound AI company. US$92.4 million Samsung.
- Attune Medical, a device to help cool the oesophagus during radiofrequency ablation procedures. US$160 million by Haemonetics.
- Innovalve Bio Medical, a transcatheter mitral valve. US$300 million by Edwards Lifesciences.
And many more…
The opportunity for Australia to lead in both medical research and medical device development is clear. But it takes talent, investment and a commercial focus to make it a reality.
Investor highlights:
- Validated businesses with experienced teams: The venture studio/foundry model, as demonstrated by success stories like Moderna (a portfolio company of Flagship Pioneering), has proven efficacy in funding, speed, and return on investment.
- Vetted early-stage deal flow: Founder-like equity positions in early-stage technology assets that have already received significant investment from universities and government agencies and have been decades in the making to reach a translational moment.
- Foundational investment in the foundry – A start up factory: Curated portfolio of medical device companies, maximising impact and returns. Mimetic intends to invest and build 1 to 2 medical device companies annually.
Traction
Since inception in February 2024:
- Mimetic has identified over 50 medical technology opportunities.
- Active partnership discussions underway with clinical innovators from NSW based universities and local health districts.
- 5x industry professionals signed on as Board of Directors / Advisors, including the current Director of Strategy at CSIRO.
- Ecosystem support and referral pathway from industry bodies, start-up accelerator and incubator programs, specialist consultancies, biomedical faculty heads and university commercialisation translation offices.
Founder Spotlight
Mimetic is the brainchild of Ben Wright and Edwina Lim. Together, they bring extensive experience in:
- Strategy and global product roles within ASX-listed MedTech firms (Nanosonics, ResMed).
- Managing corporate venture funds and business unit portfolios.
- Global markets exposure across North America, EMEA, and APAC.
- Advising over 100 Australian start-ups and training over 100 academics/clinicians in Australia’s largest deep tech incubator, Cicada Innovations.
- Developing and launching over 20 new products.
- Holding tertiary qualifications in business, engineering, and biological sciences.
Mimetic offers a novel opportunity for investors to participate in Australian medical innovation – transforming healthcare outcomes across the globe and redefining standards of care. Use of funds from this seed round will support the first two early-stage innovations to progress from proof-of-concept to product development.
For investment enquires, contact Ben Wright, CEO and co-founder of Mimetic: contact@mimetic.au
Visit the Mimetic website or follow Mimetic on LinkedIn to learn more.