OneVentures appoints US expertise

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Australian healthcare venture capital firm OneVentures has announced the appointments of Jim Scopa and Dr Dan Baker.

The company said the appointments will help OneVentures through insights and access to networks in the US healthcare system.

OneVentures launched the $170 million Healthcare Fund III in December 2016. It is a licensee of the federal government's Biomedical Translation Fund (BTF) and investing $10-20 million in companies commercialising medical devices, drugs in clinical development or diagnostics.

The Fund has currently invested in five healthcare sector companies including Blade Therapeutics in October 2018, a company developing small molecule drugs for the treatment of fibrosis, and BiVACOR in early 2018, creators of the first Total Artificial Heart for replacement of a patient’s failing heart.

According to Dr Paul Kelly, managing partner at OneVentures, “We are seeing the Australian healthcare landscape producing truly exceptional medical innovations based on decades of sound research being conducted by world-leading research teams. OneVentures is focused on commercialising these technologies globally. Jim Scopa and Dr Dan Baker are invaluable additions to the team in enabling these companies to achieve this.”

Dr Dan Baker joined OneVentures as Venture Partner in March 2019. He brings 19 years of clinical and business development experience to OneVentures, having previously held senior management roles covering drug development, product commercialisation and research and growth strategy. Most recently, Dr Baker was a vice president at Janssen, heading immunology drug development.

Mr Jim Scopa joins OneVentures as the firm’s director on the Board of Blade Therapeutics and member of the fund's advisory and investment committees. He previously served as managing director and member of the Investment Committee at MPM Capital, a US$2.6 billion US-based venture capital firm.

“I look forward to joining the OneVentures team in driving their healthcare investment strategy, including offering a US and global perspective and network, in order to realise the global potential of these exciting new technologies,” said Mr Scopa. 

“The OneVentures team has a track record of selecting and managing some of the most promising biomedical innovations Australia has to offer through to commercialisation. I look forward to joining the team in my capacity as Venture Partner,” added Dr Baker.