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Gates Foundation’s Global Health Chief Joins Atomo Diagnostics
- Published May 30, 2016 11:38AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
28th May 2016, The Australian By Sarah-Jane Tasker
The top lieutenant at the Bill & Melinda Gates Foundation’s global health fund is joining the board of Australia’s Atomo Diagnostics after the fund took an equity position in the medical device company.
Atomo, which has developed a rapid blood test for infectious and chronic diseases, had previously received a $US6 million ($8.3m) loan from the Global Health Investment Fund, set up by the Gates Foundation and JPMorgan. But the fund has now gone a step further with an equity stake and a board seat at the Sydney-based company.
“We believe this is a company that can have a major impact, and it will be something Australia will be extremely proud of,” said GHIF president Curt LaBelle, who will join Atomo board.
Atomo chief executive John Kelly said having the head of the GHIF on the board of a “relatively small” Australian company was a huge tick of confidence and credibility for Atomo.
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