AFT Pharmaceuticals is a profitable and founder-led pharmaceutical company that develops, licenses, distributes and sells a wide range of pharmaceutical products globally. Its product portfolio has >100 proprietary products that have applications in multiple therapeutic areas including pain relief, eye care, skin care and digestive health.

Atomo Diagnostics (ASX:AT1) develops unique ‘user-friendly’ Rapid Diagnostic Tests (RDTs). Atomo’s technology was developed as a test device platform with the initial clinical application focused on HIV/AIDS where the first products were launched in 2018. The company is at a major juncture where it is building a more comprehensive pipeline.

Bio-Gene Technology (ASX:BGT) is an ASX-listed AgTech company specialising in novel insecticides derived from nature. The company is developing two compounds, Flavocide™ and Qcide™. The former is synthetically produced while the latter is natural, but both are based on a class of chemistry called beta-triketones.

Cyclopharm’s (ASX:CYC) core radiopharmaceutical product, Technegas, is used in functional lung ventilation imaging, particularly for the diagnosis of pulmonary embolism (PE). CYC is already selling in 60 countries around the world, but US FDA approval would open up the vast US market.

Cynata is a regenerative medicine company. Its Cymerus technology can produce vast quantities of Mesenchymal Stem Cells from a single blood donation. Cymerus is now in Phase 1 in acute Graft vs Host Disease. Japan’s Fujifilm has optioned this indication.

Dimerix is a drug discovery company that can identify important drug targets called G Protein-Coupled Receptors. Dimerix’s lead DMX-200 candidate, a combination of irbesartan and propagermanium, is in a Phase 3 clinical trial.

ECS Botanics Holdings Ltd (ASX: ECS) is a fast-growing Australia-based provider of medicinal cannabis and hemp-based wellness products. With a focus on medicinal cannabis, it operates a specialised business model, with regenerative and organic medicinal cannabis cultivation/manufacturing facilities in Tasmania and Victoria. ECS has its own hemp food/wellness brand, and cultivation and white-label manufacturing medicinal cannabis products.

Imagion Biosystems’ (ASX:IBX) revolutionary MagSense imaging technology is potentially orders of magnitude more effective than CT and MRI at detecting cancer. MagSense was granted Breakthrough Device status by the FDA in June 2019 and is currently being prepared for its first clinical study, potentially in Her2-positive breast cancer.

Immuron (NDQ: IMRN, ASX: IMC) is an Australian biotech company developing commercial assets that help transform the standard of care for gastrointestinal disorders. Through its proprietary technology platform, IMC creates pharmaceuticals to treat gut-mediated diseases through oral immunoglobulin-based therapies. IMC has 2 flagship commercial products – Travelan and Protectyn – and 3 clinical-stage assets – IMM-529, IMM-124E and CampETEC.

Invion is developing a new Photodynamic Therapy (PDT), in which a light-sensitive drug is used to kill cancer cells. Invion’s PDT, called IVX-P02, has generated some interesting case studies and early clinical data, and the company is moving towards larger studies aimed at registration in Australia and New Zealand, possibly by 2021.

Island Pharmaceuticals (ASX: ILA) is an ASX-listed biotech company developing its flagship drug ISLA-101 against mosquito diseases. After years of research and successful clinical data, the company has commenced a Phase II study of ISLA-101 for Dengue fever. Results from the first cohort are expected prior to Christmas, with full results in the first half of CY25.

Neuren Pharmaceuticals is a Melbourne-based drug developer. The company’s lead compound is Trofinetide, for the treatment of two Autism Spectrum Disorders, Rett Syndrome and Fragile X Syndrome. The company has generated favourable Phase 2 data in both these conditions.

Paradigm Biopharmaceuticals is an ASX-listed drug development company. Paradigm’s flagship asset is Zilosul, an injectable form of pentosan polysulfate sodium (PPS). Zilosul is a non-opioid, anti-inflammatory drug that Paradigm is seeking to use to treat multiple indications, most particularly osteoarthritis. Zilosul is in Phase 3 for osteoarthritis having passed multiple Phase 2 trials. The drug has been Fast Tracked by the FDA and has the opportunity for expedited approval in Australia through TGA Provisional Approval.

Percheron Therapeutics is an Australian drug developer whose lead compound is HMBD-002, a potential immuno-oncology drug. HMBD-002 is a monoclonal antibody that targets an immune checkpoint called VISTA. The drug has shown promise in a recently completed a Phase 1 study in multiple tumour types, in terms of both its safety and potential efficacy. Percheron in-licensed the drug in June 2025.

Prescient Therapeutics is a Melbourne-based drug developer focused on cancer, with several platforms and products in its portfolio. Prescient Therapeutics’ lead compound is a small molecule called PTX-100, which is potentially a significant future treatment for T-Cell Lymphoma. The company also has two cell therapy platform technologies: OmniCAR, which allows next-generation CAR-T (Chimeric Antigen Receptor T-cell therapy) products to be developed, and CellPryme, which allows enhances adoptive cell therapy performance.

Proteomics International Laboratories (ASX: PIQ) is a biotech company that is developing precision diagnostic medical tests that identify protein biomarkers via blood samples and consequently, medical indications. The company is poised to commercialise 3 of them in the first half of CY25 (1H25) – PromarkerD for Diabetic Kidney Disease (DKD), PromarkerEndo for Endometriosis and PromarkerEso and Esophageal cancer – all named after the Promarker platform these tests were developed from.

Race Oncology Limited (ASX:RAC) is an Australian pharmaceutical company focused on the development of its key drug, Zantrene, which is currently being studied for pre-clinical and clinical efficacy in several cancer indications.

Rhythm Biosciences (ASX: RHY) is a medical diagnostics technology company based in Melbourne. Currently it is developing ColoSTAT, a simple blood-based test for the efficient detection of colorectal cancer at all stages, including the early stages.

Singular Health Group (ASX:SHG) is the developer of 3DICOMTM, a fully integrated solution that enables radiology data (specifically those in the DICOM format) to be accessed and shared across siloed healthcare systems.

TruScreen Group Ltd (NZX: TRU) provides an opto-electrical technology-based real-time, low cost and portable system for the detection of cancer or pre-cancerous cells in cervical tissues. TRU’s disruptive technology is non-invasive for women and provides objective and fast screening, thus providing an efficient alternative to the conventional Pap smear test that requires collection of tissue samples from the cervix. We believe TRU is well-positioned to benefit from the rapid commercial roll-out of its devices in the low-and middle-income countries (LMICs), with a primary focus on China.