Sydney medtech Australis Scientific closes $9.3m raise led by Rohto Pharma
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The news: Sydney-based medtech Australis Scientific has closed a USD6 million ($9.3 million) capital raise led by Japanese-listed Rohto Pharmaceutical to accelerate development of its 'Confidanz Smart Patch'.
The context: The band-aid-sized device is worn near the ankle and uses tibial nerve stimulation to calm the bladder, offering a non-invasive, at-home treatment for overactive bladder and incontinence.
These conditions currently affect more than 400 million people worldwide but existing treatments are often invasive, costly, and hard to access.
The raise will fund Australis’s first-in-human clinical trial now underway in Sydney and Brisbane, and support regulatory submissions in Australia, the US and Japan.
Australis Scientific is also aiming to expand market entry into Asia through Rohto's existing footprint in Japan and China.
What they said: “This partnership with Rohto is transformational,” said Australis Scientific founder Nicky Agahari.
“Not only does it provide the capital we need to scale our clinical program, but it also opens the door to Japan and broader Asia — markets where ageing populations mean demand for bladder health solutions is urgent and growing.”
The source: Australis Scientific media release
