XING Technologies Success Story
In March 2016, 180 Partners were referred to Prof Matt Trau (University of Queensland) and Dr Paul Mainwaring (Medical Oncologist) of Xing Technologies.
Xing Technologies possesses potentially ground-breaking technology in the cancer field, however were struggling to sell its story and attract investment. Commercialisation in the med-tech space is particularly difficult due to long development lead times and surmounting regulatory hurdles requiring significant patience, sizable investment and high uncertainty of returns.
180 Partners devised a business plan which encompassed a very lean and focussed start-up with early cash flows. 180 Partners were subsequently engaged in September 2017 to provide CEO, CFO and CIO services to attract investment, establish operations and provide senior management services on an as-required basis to achieve sustained and profitable operations. 180 Partners presented the plan to high net worth individuals and attracted start-up funds in December 2017.
As of early May 2018 XING has constructed and equipped a fully functioning laboratory which is on track to provide commercial services to the medical community and research organisations by the end of May. It has contracts in place with 2 key overseas institutions, one being one of the largest global pharma companies keen to utilise the expertise XING has to offer.
XING is also on track with the development of a fully-integrated point-of-care device which will revolutionise the detection of cancers and infectious diseases without requiring any laboratory facilities or special training. A prototype device will be unveiled to the global diagnostic community in August 2018 at a major Diagnostics conference in USA.
180 Partners have structured and positioned XING to optimise future value and mitigate risk through a company structure which will enable a number of potential public listings in Australia and USA. 180 Partners are developing systems, procedures and a corporate governance framework which will enable a smooth transition to public company operations.