This Month
How this $115b ASX giant plans to win from both sides of the trade war
On the front line of the tit-for-tat tariff fight between the US and China, Australian companies are trying to find a way to play both sides.
Pharmaceuticals to be hit by ‘major’ Trump tariff, CSL slumps 5pc
Investors are in panic as Australian drug companies could be the next victims in an expansion of the US trade war.
Teal corflute bandit could have been a medtech star
Peter Jordan’s timing at leaving dud businesses is better than his ability to get away from scenes of election poster shenanigans.
Phil King’s Regal writes Opthea to zero and backs off risky bets
The veteran stockpicker told investors the firm would review how its $220 million wager on the biotech went so wrong “to ensure it does not occur again”.
March
Opthea in active talks with funders after second trial fails
The little hope left for Opthea shareholders has been crushed after the biotech said a second late-stage trial of its eye disease treatment had failed.
TPG Capital seals $3b-plus Novotech sale with Singapore’s GIC, Temasek
The two sovereign wealth funds have taken a “significant stake” in the clinical research business owned by the private equity giant for eight years.
The clinical trial result from hell has biotech investors on edge
From Phil King’s Regal Partners to Russel Pillemer’s Pengana Capital, fund managers loved vision treatment hopeful Opthea. Now they risk being wiped out.
Pengana freezes fund redemptions as it braces for big Opthea loss
The firm’s unlisted high-conviction equities strategy is more than 44 per cent invested in healthcare stocks. The biotech has warned it could be insolvent.
Regal’s listed funds slash value of biotech Opthea by two-thirds
The hedge fund run by veteran stockpicker Phil King has told investors that the eye treatment play is worth 20¢ per share. It is the company’s largest investor.
Investors fret over clinical trial failure’s hit on Regal funds
Phil King’s investment firm was the largest shareholder in Opthea, the eye treatment play that could become insolvent after a poor medical result.
Imricor Medical Systems passes can around for $80m, Morgans on ticket
The ASX-listed medtech began wall-crossing investors over the weekend, seeking support for an equity raising of as much as $80 million.
OneVentures-backed artificial heart start-up rattles the tin for $100m
BiVACOR has made the world’s first titanium heart and is hoping to manufacture the device commercially in Australia and the US within three years.
David Williams says he makes no apologies for ‘aggressive’ style
The outspoken investment banker is the chairman of PolyNovo. The burns treatment company’s chief executive is leaving after a falling out with the board.
‘CEOs can get away with it’: Why Australia’s R&D is in 13-year slide
Australia’s booming start-up ecosystem has funnelled billions into software makers. But investment in R&D is in decline.
Full service! Eyes on Barrenjoey’s PYC Therapeutics coverage
The optics aren’t great, agreeing to sell a company’s raise days after you’ve told the market it’s a buy.
February
Singapore heavyweights in final sign-off for TPG Capital’s Novotech
While the interfund transfer was not yet signed off, it was on track to complete in coming weeks, limited partner sources said.
CSL war games manufacturing network in a world heading for trade war
The ASX-listed giant says it can switch manufacturing sites if Donald Trump imposes tariffs on pharmaceuticals. It expects double-digit earnings growth.
Biotech company Alterity Therapeutics seeking to raise $40m
MST Financial is managing the raise and has split it into two tranches. Shares were placed in a trading halt on Thursday.
January
The scientist-turned-banker’s mission to fund cancer breakthrough
Alan Taylor has swapped his early years on the sports field and a stint as an investment banker for the boardroom, in his quest to get medical breakthroughs to patients.
Spray-on skin hopeful Avita Medical nosedives 19pc on revenue miss
The regenerative medicine company disappointed its shareholders with a revenue miss that has dragged down full-year results as hospitals slowed buying.