The funds will be used to support the development of immunotherapy for peanut allergies
Biotech company Aravax has tapped MinterEllison for advice on a Series B raising that secured US$68m from a growing investor syndicate.
Aravax is known for its significant progress in raising funds for peanut allergy-targeted immunotherapy. In December 2022, the company announced the commencement of the funding round, with an initial US$20m investment from Brandon Capital and Tenmile.
Novartis Venture Fund, Breakthrough Victoria, Uniseed, Unisuper, and Agati Capital joined the syndicate of investors, committing an additional US$22.2m towards the fundraising effort.
Aravax is leading the development of PVX108, which MinterEllison said is the first targeted immunotherapy for peanut allergies. The funds will be used to progress phase II trials and accelerate the development of the immunotherapy.
The MinterEllison team was led by James Hutton, who heads the firm’s national life sciences practice.
“Funding the new trials is a step closer to making a significant difference in the lives of children and families affected by peanut allergies. This funding highlights our strength in the life sciences sector and draws international investor interest towards these vital healthcare advancements”, he said.
Aravax is part of Brandon Capital Partners’ life sciences portfolio.
MinterEllison also provided legal guidance to global healthcare technology and services group Clanwilliam’s HealthLink as it acquired Telstra Health's secure healthcare messaging and e-referrals services: Argus, Connecting Care, and eReferrals.
According to the firm, the new acquisition aligns with HealthLink's strategy to broaden its network of healthcare providers and progress its technologies.
The firm’s M&A team was led by Siobhan Doherty. The team comprised lawyers from the competition and regulatory, FIRB, privacy, IT, transitional services, IP, and tax groups.
“This acquisition marks an exciting time for Clanwilliam and HealthLink. The landscape of e-health is evolving, and we are committed to collaborating and partnering closely with stakeholders and customers, recognising the shared vision we all have for an exciting future marked by increased interoperability”, Australia managing director David Young said.
