King & Wood Mallesons (KWM) has advised Cardihab, an innovative smartphone app used for remote management of patients who have experienced a heart-related health scare, on its spin-out from CSIRO and Series A financing round.
Cardihab benefited from CSIRO's ON Accelerator program which is helping to make science market-ready to allow technologies to deliver national benefit faster, as well as the HCF Slingshot program.
The KWM team was led by Partner Scott Bouvier and supported by Senior Associate Anthony Boogert.
Commenting on the transaction, Scott Bouvier said; "KWM has a longstanding relationship with CSIRO, and we are delighted to have advised Cardihab on this significant transaction which supports CSIRO's vision of commercialising scientific technologies that create tangible and high-impact solutions in the health sector."
Anthony Boogert added; "Cardihab is expected to deliver strong economic benefits, which will be reinvested into new science to support the innovation cycle."
Cardihab is the first CSIRO invention to be financially backed by Uniseed – a fund backed by University of Queensland, University Of Sydney, University of Melbourne and UNSW – contributing $500,000 to a $1.35 million fundraising.