George Health Enterprises and its subsidiary George Medicines have raised a combined $35m in funding from investors including Bupa Australia to drive pipeline development and commercialisation.
George Health Enterprises, the UK-based commercial arm of George Institute for Global Health operating an integrated healthcare business, and its drug development subsidiary George Medicines secured £27m ($35m) in combined funding yesterday.
The capital is split into $22m for George Health, co-led by health insurer Bupa Australia and private equity fund Federation Asset Management, and $13m for George Medicines, supplied by the Medical Research Commercialisation Fund (MRCF).
MRCF, backed by the government of Australia and managed by Brandon Capital Partners, invested through its Biomedical Translation Fund. Its commitment will be matched by George Health Enterprises.
George Medicines focuses on drugs for diseases such as cardiovascular and metabolic disorders that do not transmit from person to person and which kill an estimated 41 million people each year, according to the World Health Organisation.
The company’s approach involves combining existing treatments to increase efficacy. Its drug candidates include…
