OurCrowd Sets Australian Crowdfunding Record for Global Kinetics, Medical IT Startup

OurCrowd set a new Australian funding record, closing out a $1.5 million round of funding for Global Kinetics Corporation (GKC), an Australian medical IT company .

Malcolm Horneandrew maxwellTo recap from an earlier post, GKC was established in 2007 to commercialize innovative technology developed by Professor Malcolm Horne, from the Florey Institute of Neuroscience & Mental Health and Dr. Rob Griffiths, for the precise recording, quantification and reporting of movement symptoms of neurological disease. GKC’s lead product, the Personal KinetiGraph movement recording is a unique and useful tool for neurologists in the management of movement disorders. GKC is helmed by MD and CEO Andrew Maxwell, a successful business entrepreneur in Australia and Asia and the former CEO of Australia’s wealthiest family VC fund, ESCOR Private Equity. Joined by Chief Scientist Prof. Malcolm Horne, a recognized leader in Parkinson’s clinical practice and research and head of the Neurodegeneration Division of the Florey Institute of Neuroscience and Mental Health,  the company is supported by medical VC investors Brandon Capital Partners as well as Dr Thomas Lonngren, an experienced advisor with a track record in European health systems.

GKCAddressing the most common movement disorder, GKC’s wearable tech focuses in on the more than 6 million people affected by Parkinson’s Disease. OurCrowd comments further, “The chronic, progressive condition causes substantial disability with combined direct and indirect costs estimated to be nearly $25 billion in the United States alone. Practitioners with whom we have spoken, consider the KinetiGraph report data to be “excellent for initial diagnosis as well as optimizing difficult-to-treat patients.” With an estimated 67% of the diagnosed global population undergoing treatment, GKC estimates the addressable market for its PKG reports to be in excess of $1.5 billion annually.”

Personal KinetiGraphAdditional reasons for OurCrowd’s investment include how GKC’s proprietary technology aims to remove the guesswork out of Parkinson’s Disease treatment: “Based on over 15 years of R&D, GKC has created the Parkinson’s KinetiGraph (PKG), a wearable sensor paired to a proprietary analysis platform that outputs objective, accurate reports on symptoms’ response to medication. Existing monitoring methods such as clinical assessment and patient diaries are inaccurate and don’t monitor symptoms continually, complicating treatment,” observed OurCrowd. “The KinetiGraph, worn for a period of about 10 days, records movement data that GKC’s proprietary analysis platform uses to provide objective, quantitative monitoring and reporting of a patient’s Parkinson’s symptoms. These reports enable practitioners to maintain a balanced Parkinson’s medication treatment plan, minimizing side-effects and improving overall patient outcomes.”

The Earth Globe WorldIn addition, the FDA-cleared device is already implemented in over 80+ clinics worldwide, clinically validated and cleared for use by regulators in the US, Europe, Australia and many Asia-Pacific countries.  Furthermore, after receiving FDA approval in August 2014, a commercial partnering agreement with a global pharmaceutical company and also commercial pilot project with a global medical device company,  OurCrowd believes that GKC shows a strong foundation for continued growth through and after 2015.

Registered OurCrowd investors may learn more about Global Kinetics Corporation campaign by clicking here.  Interested investors may also click here to view a Sky News film clip featuring Maxwell and the KinetiGraph.

OurCrowd expanded into Australia in early 2014. Since then it has raised more than $25 million from Australia-based investors, according to the platform.


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