Med-tech Start-up Gains Cash Injection With Capital Raising

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    Squire Patton Boggs has advised Kong Clan Pty Ltd on its investment into start-up company REX Ortho Pty Ltd, which is developing an innovative orthopaedic screw that could transform patient outcomes following complex bone injury surgeries.

    The innovative removable, expandable titanium screw aims to improve patient outcomes in complex surgeries involving hip fractures, bone injuries and other spinal conditions.

    The transaction involves a four-tranche subscription to ultimately acquire just under 50% of the company, along with negotiation of a Shareholder Agreement, Researcher Deed with Curtin University and several other transaction documents.

    The med-tech start-up will now seek to partner with a manufacturer as it advances towards bringing its product to market.

    Squire Patton Boggs corporate partner Simon Rear led the transaction and was assisted by of counsels Fiona Ellett and Dominique Hartfield, senior associate Fiona Meaton and associate Connor McClymont. REX Ortho was advised by Grantleigh Group Pty Ltd.

    The transaction is an example of the strength of the firm in the medical technology start-up market.

    Simon Rear said: “Australia is a front runner in the medical and scientific fields and it is very pleasing to see a home-grown product receiving this investment and support. We look forward to seeing the company flourish.”

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