Bill Gates Invests In An Aussie Biotech Startup
Local Technology Dreams to Go Global!
About Atomo Diagnostics
Microsoft founder Bill Gates backs Australian biotech startup Atomo Diagnostics. Launched in 2010, Atomo has developed a unique testing platform that enables quick, accurate and cost-effective point-of-care and consumer diagnostics. These developed solutions cut down the error rates, improve care and has significant commercial potential in both the developing world and in developed healthcare markets. Atomo has come up with an outstanding, accurate and user-friendly testing device that can detect HIV and other diseases in Africa and globally. John Kelly is the founder of the startup.
Bill Gates- backed Global Health Investment Fund will fund the startup. However, it has lent money to many startups. Gates have taken a direct stake in Atomo. The latest funding round was closed at $6 Million. Till date, $10-15 M has already been invested in the business. With this, the share of John Kelly and the main shareholder, Lang Walker who is a Sydney businessman were reduced in the company; reportedly below 30% each. The Managing Partner of the Global Health Investment Fund, Dr. Curt LaBelle will join the Atomo Board.
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