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King & Wood Mallesons has advised a digital health company on its spin-out from CSIRO and Series A financing round.
Firm: King & Wood Mallesons (Cardihab)
Value: Undisclosed
Area: Finance
Key players: The legal team advising Cardihab was led by KWM partner Scott Bouvier, with assistance from senior associate Anthony Boogert.
Deal significance: Cardihab is a smartphone app, designed for the use of remote management of parties, who have experienced a heart-related health scare.
According to a statement from KWM, Cardihab is part of CSIRO’s new “ON” start-up accelerator, which is making science “market-ready to allow medical technologies to deliver national benefit faster”.
The statement noted that Cardihab is the first CSIRO invention to be financially backed by Australian universities, with Uniseed – a fund backed by the University of Queensland, University Of Sydney, University of Melbourne and UNSW – contributing $500,000 to $1.35 million fundraising.
“KWM has a long-standing 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,” said KWM partner Scott Bouvier.
Senior associate Anthony Boogert added: “Cardihab is expected to deliver strong economic benefits, which will be reinvested into new science to support the innovation cycle”.
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.
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