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Australian bionic eye business receives multimillion-dollar investment

One firm has advised China Huarong in a multimillion-dollar investment into an Australian company, established to develop and commercialise bionic eye implants.

April 10, 2017 • By Emma Musgrave
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Firm: Herbert Smith Freehills (China Huarong)

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Deal: China Huarong has been advised on its investment into Bionic Vision Technologies Pty Ltd (BVT).

 
 

Value: US$18 million

Area: Finance

Key players: The legal team advising China Huarong was led by Herbert Smith Freehills partners Nick Baker and Alexander Aitken, with assistance from special counsel Amalia Stone.

Deal significance: BVT is an Australian company that has been established to develop and commercialise bionic eye implants that help restore vision to people with retinitis pigmentosa.

According to a statement from Herbert Smith Freehills, China Huarong’s investment into BVT will be used to manufacture, conduct trails in relation to and commercialise bionic eye implants.

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Future capital raising may involve further private investment or an initial public offering, the firm said.

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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