Breakthrough Victoria and Monash University Back Three Health Startups with $2.25 Million Investment
In a major boost to Victoria’s health innovation sector, Breakthrough Victoria and Monash University have jointly invested $2.25 million into three pioneering startups—Myostellar, Fyton Bio, and Remagine Labs. These ventures are developing cutting-edge technologies aimed at improving lives and easing the burden on the state’s healthcare system.
The investment also marks the official launch of the Monash Ventures Pre-Seed Fund, an $15 million initiative designed to support early-stage research commercialisation. The fund is part of Monash Ventures, a new identity that reflects the university’s growing role as a venture investor.
The Monash Ventures Pre-Seed Fund investment committee, which includes representatives from Monash University, Breakthrough Victoria, and independent experts, has already met with 13 startups and endorsed 10 for investment.
These efforts are part of Breakthrough Victoria’s $100 million University Innovation Platform, which supports research commercialisation across seven Victorian universities. According to a recent EY report, BV’s investments are projected to contribute up to $5.3 billion to the state’s economy by 2035.
With nearly $1.3 billion in co-investment facilitated across its portfolio, Breakthrough Victoria continues to play a catalytic role in attracting private capital and driving innovation-led growth.
"These investments are a powerful demonstration of how the University Innovation Platform is working exactly as intended — backing world-class research at its earliest stages to successfully commercialise and deliver real-world solutions.
"By co-investing with Monash University in companies like Myostellar, Fyton Bio and Remagine Labs, we’re helping to build the next generation of Victorian research commercialisation, improve lives, and deliver long-term economic and social returns for the state," Rod Bristow, CEO of Breakthrough Victoria, said.
"At Monash, we are committed to transforming outstanding research into tangible outcomes that benefit our communities, our economy, and the world.
"The launch of Monash Ventures and the Monash Ventures Pre-Seed Fund marks a bold step in strengthening our impact through innovation and enterprise," Professor Sharon Pickering, Vice-Chancellor and President of Monash University, said.
The three startups are tackling significant health challenges. Myostellar is developing a biologic therapy for Duchenne Muscular Dystrophy that promotes muscle regeneration with minimal fibrosis. Fyton Bio is working on antibody therapies to target and eliminate disease-causing immune cells in autoimmune conditions. Remagine Labs is creating wearable drug delivery devices to improve outcomes for chronic disease patients.
"We’re proud to partner with Breakthrough Victoria and Monash University to advance Remagine Labs’ mission to revolutionise the treatment of chronic conditions through electronically controlled drug delivery. Their investment is a powerful endorsement of our technology and our commitment to building a globally competitive electro-pharmaceutical company here in Victoria," Remagine Labs CEO Pat Kelly said.
Fyton Bio Co-Founder and CEO Chuck Silberstein also added, "I’m thrilled to have received the pre-seed investment from the Monash and the BV UIP Pre-Seed Fund, which enables FytonBio to initiate antibody discovery for our first therapeutic program using the GPCR Rare Epitope Antibody Targeting (GREAT) platform developed by Professor Remy Robert.