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Culture of innovation spawns global spin out

WEHI’s culture of fostering entrepreneurial thinking has led to the success of spinout company, IonOpticks, which is now scaling to global heights following its new partnership with Nordic private equity firm, Adelis Equity Partners (Adelis).

The evolution of IonOpticks, from its early-stage research and development to a global market presence, underscores the value of nurturing entrepreneurial scientists and leveraging robust internal incubation expertise.

Incubating excellence

In just six years, Dr Jarrod Sandow journeyed from researcher at WEHI to co-founder of spinout company, IonOpticks. The company’s groundbreaking chromatography columns are used in mass spectrometry, a critical research tool in scientific labs around the world.

Dr Sandow’s thirst for innovation, combined with WEHI’s culture of excellence, created a formidable formula for entrepreneurial incubation.

Problem solving is in Dr Sandow’s DNA. He says the secret to his entrepreneurial success is having an insatiable appetite for improving things that don’t work.

“I spot a problem and just want to fix it. IonOpticks sprung from this simple pursuit of wanting scientific tools that worked well,” he says.

“The best commercially available chromatographic instruments were not performing. It was frustrating, so we started building our own.”

IonOpticks’ technology was developed at WEHI and the company was incubated at the institute for two years. Tireless product refinement transformed the underperforming columns from an unsatisfactory 20% to a 99% success rate.

The chromatography columns are used to separate and analyse complex mixtures in mass spectrometry to help researchers identify individual components like proteins.

“We created an improved method of manufacturing the columns which enhances their sensitivity and performance for their use in mass spectrometry,” Dr Sandow says.

Mass spectrometry is a vital tool used in proteomics, the study of proteins within cells. It helps uncover important information about diseases, how cells work and potential targets for new medicines.

Supporting innovation – going to market

Validation of IonOpticks’ high-performance columns by industry partner Bruker was a critical steppingstone in the early commercialisaton of the product.

The pairing of IonOpticks columns with Bruker’s product enabled Bruker to win an estimated 80% of tenders in Europe and through this success, IonOpticks was able to find its ‘market sweet spot’, gain a foothold and capitalise on the market gap.

The incredible performance of the IonOpticks’ column is evident in its rapid market take up worldwide.

“We now ship to 35 different countries and our customers include 16 of the top 20 global pharmaceutical companies, as well as academia including Harvard Medical School, Princeton University and the University of Oxford,” Dr Sandow says.

In 2024, IonOpticks won the Top 50 Most Innovative Manufacturers Award and has featured in over 1000 publications (averaging 400 publications per year).

In less than eight years, it has grown to over 30 employees, continues to have strong customer growth and has just released a range of new products that will significantly boost market share.

A rapid global success story

Transitioning from the lab at WEHI to co-founding a global success story has not come without growing pains.

“These have been the hardest seven years of my life. I’ve worked two full time jobs and 80+ hour weeks, negotiated multimillion dollar deals in my board shorts on holidays in a micro-cupboard-office and I now have many more grey hairs than before,” says Dr Sandow.

Managing the rapid growth was one of the biggest challenges for Dr Sandow, and initial WEHI co-founders Associate Professor Andrew Webb and Dr Giuseppe Infusini – a team that comprised purely of scientists and a business consultant.

“We learned on the fly about how to establish, run and scale a business. But there was a point where we had outgrown our WEHI incubation space – fondly known as the ‘broom closet’. We needed more space and a CEO.”

In 2020, IonOpticks moved to an office in Fitzroy – picking a location so Dr Sandow could cycle between his two job sites (WEHI and IonOpticks) on his bike. Shortly after, a CEO was hired and an additional founder secured. Four years later they have outgrown Fitzroy and are now transitioning to a new manufacturing base, headquartered in nearby Collingwood.

The new partnership with Adelis will boost IonOpticks’ global presence and drive innovation. It will fast track its expansion into key markets and consolidate its leading position in the exciting and rapidly growing field of proteomics and life science.

Above: IonOpticks’ Board of Directors (L to R): Mårten Winge, Sibel Arnes, Xavier Perronnet, Dr Peter Wrighton-Smith, Dr Jarrod Sandow, Rasmus Molander.

Unlocking and accelerating opportunities

WEHI currently has 18 spinouts and other entities, including 10 that are developing new products.

Half of the for-profit spinouts are related to WEHI’s infection, inflammation and immunity work. Most engage WEHI to complete early-stage research and development or to utilise WEHI infrastructure.

WEHI’s long-tested history of innovation, partnerships and ventures means that it stands alone in its sophistication of commercialisation compared to its peers, with other landmark ventures including Anaxis Pharma, Ternarx, Entact Bio and the Australian Genome Research Facility .

Funding initiatives like these helps WEHI access diverse income streams and remain sustainable to continue doing impactful work that helps millions of people live healthier lives.