Funded Biotechnology Startups in Australia
The 50 most recent funding rounds in Australian biotechnology span June 2020 through November 2025, with deal activity concentrated in Melbourne and Sydney.
The 50 most recent funding rounds in Australian biotechnology span June 2020 through November 2025, with deal activity concentrated in Melbourne and Sydney. Melbourne companies account for a large share of the disclosed capital: Telix Pharmaceuticals raised $431M in July 2024 — the largest round in this set — while Mesoblast ($40M), Prota Therapeutics ($21M), and Aravax ($20M Series B) represent successive layers of the city's biotech stack. Sydney contributes Immutep ($60M, June 2024), Proto Axiom ($20M Series B, August 2024), and Imugene ($54M Post-IPO Equity, September 2022), among others.
Perth emerges as a secondary cluster, with at least eight companies across Nedlands, Melville, and central Perth — including Orthocell ($11M), OncoRes Medical ($7M Series A), and Proteomics International ($4M). Round type distribution is notably skewed toward Series Unknown, consistent with a market where ASX-listed entities raise capital through public placements rather than labeled VC rounds. Conventional venture stages — Seed, Series A through C — are present but less prevalent across these 50 rows.
Most recent rounds
50 shownRelated listings
Frequently asked
What are the largest recent funding rounds in Australian biotech?
Telix Pharmaceuticals (Melbourne) closed the largest disclosed round in this set at $431M in July 2024. Protagonist Therapeutics (Brisbane) raised $132M in June 2021, and Opthea (South Yarra) followed with $114M in June 2024. Immutep ($60M, Sydney, June 2024) and Imugene ($54M, Sydney, September 2022) round out the top five disclosed raises.
Which cities have the highest concentration of funded biotech companies in this dataset?
Melbourne and Sydney each host a substantial share of the companies shown. Melbourne names include Telix Pharmaceuticals, Kinoxis Therapeutics, Mesoblast, and Aravax. Perth shows notable depth as well, with at least eight companies — Orthocell, Proteomics International, OncoRes Medical, Lixa, Zelira Therapeutics, Argenica Therapeutics, Omni Biotech, and BARD1 Life Sciences — spanning Perth, Melville, and Nedlands suburbs.
What round stages are most common, and why does 'Series Unknown' appear so often?
Series Unknown is the most frequent label in the dataset, which is typical for Australian biotech: many companies are ASX-listed and raise capital through public placements, rights issues, or convertible notes rather than discrete VC rounds. Identifiable venture stages do appear — four Series B rounds, one Series C (Vaxxas, Brisbane, $23M), three Seed rounds, and three Pre-Seed rounds — but they are a minority.
Are there any Series B or later-stage rounds visible in this data?
Four Series B rounds are present: Proto Axiom ($20M, Sydney, August 2024), Kinoxis Therapeutics ($10M, Melbourne, August 2024), Aravax ($20M, Melbourne, December 2022), and Ferronova ($6M, Adelaide, January 2023). Vaxxas (Brisbane) closed a Series C at $23M in December 2022, and three companies — Imugene, Trajan, and BARD1 Life Sciences — raised via Post-IPO Equity.
Is there early-stage biotech activity outside of Melbourne and Sydney?
Yes. Brisbane-based Earthodic closed a $4M Seed round in October 2024, and Clinials (also Brisbane) raised $100K Seed in March 2022. In regional New South Wales, both Cauldron Ferm and cannaponics raised $3M Seed or Series Unknown rounds out of Orange. BioCina raised $3M in Thebarton, South Australia, and Ferronova closed a $6M Series B in Adelaide.
How current is the data, and what is the most recent round shown?
RAGE Biotech (Melbourne) closed a $19M Series A on November 10, 2025, making it the most recent round in the dataset. Propanc and Kazia Therapeutics both raised in August 2025, and Levur (Sydney) closed a $780K Pre-Seed in May 2025 — indicating ongoing deal flow into the second half of 2025.
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