PI acquires BIT Group’s North American operations, doubling its medtech manufacturing capacity

Planet Innovation (PI) has achieved record revenue in FY21 driven by strong growth in the global medtech sector.

Atmo Biosciences, a digital health company that is developing the world’s first ingestible gas-sensing capsule for monitoring gut health, has closed an oversubscribed A$9.6m capital raise.

Planet Innovation is redefining what it means to be a strategic investor by providing investee companies with not just funding, but access to its people, facilities and networks.

Lumos Diagnostics, a PI investee company, has been admitted to the Australian Securities Exchange (ASX) with trading commencing on July 5 after raising $63 million AUD in an Initial Public Offering (IPO).

At PI, we believe that work is ‘what we do’ not ‘where we go’. That’s why we’ve introduced new Ways of Working that empower our people to choose where, when and how they work to produce their best outcomes.

Prime Minister Scott Morrison and Federal Member for Chisholm Gladys Liu visited Planet Innovation to tour our expanded manufacturing and design facilities, and discuss the recently announced Patent Box tax incentive.

PI’s business model has been proven a success with another of its investee companies – Visus Therapeutics™ – raising $US36 ($A47) million in Series A financing.

Sue MacLeman, an experienced and respected leader in Australia’s medtech industry, has joined the Planet Innovation Board as a non-executive director.

Planet Innovation has closed an oversubscribed $9.8 million capital raising to accelerate business growth to meet strong international demand for its manufacturing, product development and digital services.

Lumos Diagnostics, a rapid point-of-care diagnostics company spun out of Planet Innovation, has closed an oversubscribed AU$25 million pre-IPO capital raise, ahead of an anticipated 2021 Australian Securities Exchange (ASX) listing.

Hany Massarany, a renowned leader in the global diagnostics industry, is joining the Planet Innovation Board as a non-executive director.

PI has welcomed two experienced company leaders to the PI Board, with Jonathan Ling appointed Chairman and Jim Fox joining as a non-executive director.

Lumos Diagnostics and RPS Diagnostics have merged to create a full-service point-of-care diagnostic development company and support the international commercialization of FebriDx.

Planet Innovation has strengthened its position as a global player in the commercialisation of technology ventures with the strategic appointment of Teresa Engelhard to the Board of Planet Group Holdings.

At a formal ceremony attended by Australian Federal Assistant Treasurer, Josh Frydenberg, Planet Innovation (PI) has officially revealed its all new centre for Product Development and Manufacturing.