Business
Millions in Australian taxpayers’ dollars invested in struggling NZ exoskeleton company – Sydney Morning Herald
An Australian government fund meant to support local biomedical development spent millions to buy a close-to-insolvent New Zealand-based exoskeleton company that…
However, Rex does not appear to be an obvious candidate for investment for the fund, which requires companies to either have most of their employees or assets in Australia, or plan to use the whole of the initial investment in Australia.
BioScience Managers did not reply to repeated requests for comment, and the federal government says it has no role in selecting investments for the $500 million fund.
Rex has paid tens of thousands of dollars in consultancy fees to BioScience Managers, according…
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