Australian Mining Billionaire Leans Into Biotech

August 15, 2022

Billionaires have leaned hard into biotech investments in recent years, backing small and large companies alike. Andrew “Twiggy” Forrest has joined the gang with his quarter-billion-dollar venture fund Tenmile. Forrest, whose fortunes come from his Australian mining business, has also acquired two other biotechs in Australia, a market that is regularly overlooked by investors.

According to John Carroll, “Australia has a small and often cash-starved biotech industry, which often leaves their new entries struggling on public markets as penny stock companies. Tenmile, though, is promising to take the long view on supporting companies. That sets up a scene where Forrest will have plenty of investment candidates scrambling to get into the portfolio.”

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(Source: Endpoints News, August 15th, 2022)

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