Investment Highlights

Introduction

Nexsen Ltd (ASX: NXN) was founded with a bold and ambitious purpose to provide accurate, affordable, timely and accessible testing of diseases and threats that are currently constrained by lab-based systems. Too often, critical health decisions are delayed or compromised because diagnostics rely on slow and costly laboratory systems. Their biosensor platform was developed to revolutionise diagnostic testing by delivering laboratory-grade accuracy in a rapid, portable format. They have the potential to transform healthcare, by providing a new generation of diagnostics that are faster, more accessible, and capable of reaching patients and communities worldwide.

Their lead product, the GBS Rapid Sensor is designed to provide clinicians with a faster and more cost-effective way to diagnose Group B Streptococcus (GBS) - a bacterial infection that poses serious risks to newborns and mothers. This product is progressing through clinical evaluation and regulatory preparation. On its own, it represents a substantial global market opportunity.

Nexsen’s strategic vision is for every person, globally, to benefit from at least one of their tests across their lifetime.

GBS testing is only the beginning. Alongside it, they are advancing a pipeline of tests across both medical and agricultural fields - from kidney function diagnostics, to protecting crops from invasive pathogens, through to reducing the spread of Bovine Mastitis in cattle which has the potential to have an enormous global economic impact. Each of these areas represents a significant global market where reliance on lab-based testing highlights the urgent need for faster, point-of-care solutions.

Offer Overview

Nexsen Ltd is looking to undertake an IPO on ASX to raise between $6 million and $8 million via the issue of between 30 million and 40 million shares at an offer price of $0.20. The company will have market cap of $40m at the maximum subscription.

The funds raised under this Offer will allow them to execute their commercialisation strategy with discipline and focus. This includes completing pivotal clinical trials, advancing regulatory submissions in major jurisdictions, scaling their manufacturing capability, and forging strategic partnerships.

Industry Overview

Nexsen operates within the nanobiotechnology industry, with applications of its technology across MedTech, AgTech, and BioTech sectors. The Company is developing portable, rapid diagnostic tools designed for use across diverse healthcare and agricultural environments, including hospitals, general practice clinics, aged care facilities, emergency departments, pharmacies, in-home care settings, and in-field settings. Nexsen’s medical technologies will be particularly valuable in supporting frontline and rural healthcare, where access to conventional laboratory infrastructure may be limited.

In the veterinary sector, Nexsen’s potential products will aim to address on-farm diagnostic requirements for animal health.

In the biosecurity sector, Nexsen’s field-deployable surveillance products expect to enable key agricultural industries and Government bodies to safeguard against emerging biosecurity threats. By facilitating rapid and accurate diagnosis outside of traditional laboratory settings, Nexsen will enhance the efficiency and accessibility of healthcare delivery. This approach supports more equitable outcomes across both human, and agricultural health

Company Overview

Nexsen is a nanobiotechnology company, dedicated to the development of proprietary biosensing platforms for rapid, high-precision point-of-care (POC) medical diagnostics and point-of-use (POU) sensing for veterinary, agricultural and biosecurity applications.

Since its inception, Nexsen has placed a strong emphasis on the establishment of a long-term collaborative partnership with RMIT University – one of Australia’s preeminent research institutions and a global university of technology, design and enterprise. This partnership is focussed on engineering innovative solutions that fundamentally transform diagnostics for some of the world’s most pressing healthcare and food-security challenges.

Nexsen’s Primary Initiative – GBS Rapid Sensor

Nexsen’s most advanced product is the GBS Rapid Sensor – a diagnostic for the detection of human Group B Streptococcus (GBS) in expectant mothers.

The GBS Rapid Sensor product utilises innovative nano-biotechnology to enable timely diagnostics of these important pathogenic bacteria in expectant mothers. This innovation represents a substantial advancement in primary healthcare, offering a rapid alternative to the conventional, pathology-based diagnostic processes currently in use at weeks 36-37 of pregnancy for this critical healthcare need.

Additionally, this rapid and ultrasensitive product allows for the diagnosis of GBS bacteria immediately before the labour, which is currently not achievable due to the lengthy and cumbersome pathology-based testing. This innovation constitutes a significant advancement in the clinical management of GBS in expectant mothers, as the colonisation status of GBS may change from Weeks 36-37 of pregnancy to the time of labour, and it is the latter that is most accurately correlated with the transfer of bacteria from mothers to babies and subsequent infection.

By enabling a POC diagnosis, the GBS Rapid Sensor aims to significantly improve maternal and neonatal health outcomes through early intervention and targeted clinical management. This innovation constitutes a significant advancement in primary healthcare, providing not only a rapid and efficient alternative to the conventional, pathology-based diagnostic methods, but also providing a new opportunity to detect GBS at the point of labour where it is needed the most. This innovation has the potential to influence the prevailing standard-of-care and clinical practices in GBS management.

Nexsen’s GBS Rapid Sensor project has received substantial support through a prestigious ~$7.7 million Cooperative Research Centres Projects (CRC-P) Commonwealth grant, which includes $3 million in direct Commonwealth cash funding. Receiving a CRC-P grant in a highly competitive process reflects the project’s significance and the confidence of the Australian Government in its potential to address a critical healthcare challenge.

Nexsen’s Suite of POC Diagnostics

Building on its proprietary platform for rapid point-of-care and point-of-use diagnostics, Nexsen is developing a range of products targeting unmet needs in globally significant markets. These include on-farm detection of bovine mastitis, rapid diagnosis of various human kidney diseases, and in-field detection and surveillance of biosecurity threats. 

Additional products developed on Nexsen’s proprietary platform currently underway include:

• Kidney Diseases: Rapid POC tests for the screening, detection, and ongoing monitoring of various subsets of Acute Kidney Injury (AKI) and Chronic Kidney Disease (CKD).
• Biosecurity: Rapid, low-cost, field-deployable POC tests for surveillance and detection of important biosecurity threats that can cause significant economic losses to agriculture, particularly grapes and citrus.
• Bovine Mastitis: A rapid, low-cost test for Bovine Mastitis, targeting better outcomes for the dairy industry and addressing a disease that causes significant disruption to agriculture and economic losses globally.

Nexsen is also investing in artificial intelligence (with its Nexsen.AI project) to accelerate the identification of novel molecules which can reduce the development timelines for future projects.

Key Objectives

Nexsen’s key objectives following completion of the Public Offer and successful listing on ASX include:

• completion of clinical trial for its GBS Rapid Sensor and commercialise the product;
• continue research and development into the kidney disease diagnostic tests and prepare for clinical trials and commercialisation;
• continue development of its Bovine Mastitis test and commercialise the product;
• continue development of its Biosecurity surveillance and detection products and plan for field-testing studies; and
• continuing the Nexsen.AI development program to fast track the development of future novel biosensors.

Key Board

Nexsen Ltd is led by Board and management team with deep expertise across biotechnology, diagnostics, regulatory affairs and capital markets. They are united in their commitment to build a company that delivers value for shareholders while improving health outcomes for patients, clinicians, and communities around the world. This includes:

Reece O’Connell – Executive Chairman

Mr O’Connell is a seasoned financial professional and accomplished fund manager with over a decade of experience in capital markets, specialising in high-growth sectors including biotechnology. He is the founding Fund Manager of the Summit Biotech Fund, recognised as one of Australia’s best-performing small-cap biotech funds, consistently delivering annualised returns exceeding 30% and raising over $100 million in investor capital. Mr O’Connell’s expertise spans equity trading, portfolio construction, capital raising, and strategic corporate advisory, underpinned by a BA in Finance and an MBA in Innovation and Leadership. Mr O’Connell brings a unique perspective at the intersection of finance and innovation strategy, with deep networks in institutional investment and biotech commercialisation. Mr O’Connell is also a director of RooLife Group (ASX:RLG) and in the past three years has also been a director of Identitii Limited (ASX:ID8).

Mark Muzzin – Managing Director

Mr Muzzin is an accomplished executive with over 30 years of commercial leadership experience across Australian and international public and private companies, including extensive tenures as Managing Director and CEO. He has led multiple ASX-listed entities across the energy, resources, and advanced technology sectors, driving growth through strategic pivots, capital raisings, and successful demergers. Mr Muzzin brings deep expertise in commercialising university-developed intellectual property, particularly in medical sensors and 2D materials, having worked with institutions such as Monash University, RMIT, and the CSIRO. Mr Muzzin has a long-standing interest in bridging the gap between academia and market-driven innovation. With proven strengths in governance, investor engagement, and regulatory compliance. Mr Muzzin is also an Adjunct Industry Associate Professor of RMIT University, and a member of RMIT University’s Biology Industry Advisory Committee. Mr Muzzin’s roles are honorary positions and. He is not remunerated for his services to RMIT University. He is not considered by the Company to be conflicted in relation to any matters relating to RMIT University. Mr Muzzin was the founder of Nexsen Limited, and Nexgen Nanosensors Pty Ltd.

Martina Mariano – Non-Executive Director

Dr Martina Mariano is a biotechnology executive and researcher with over a decade of experience spanning academic, clinical, and commercial environments. She currently serves as Chief Operating Officer of ASX-listed Singular Health Group With a PhD in Medicine and Pharmacology from the University of Western Australia, Dr Mariano has held leadership roles in research commercialisation, global partnerships, and software innovation.  Her background includes hands-on expertise in molecular diagnostics, forensic genetics, and medical device commercialisation, supported by previous roles at Eurofins Genoma, the Harry Perkins Institute, and the Carabinieri Scientific Investigation Department.

Grant Pestell – Non-Executive Director

Mr Pestell is a commercial and corporate lawyer with extensive experience advising high-net-worth clients at both listed and private companies in the information technology, automation and robotics, biotechnology, resources, energy, and construction industries. Grant advises public companies and directors on mergers and acquisitions, corporate governance, risk management, and strategic contract negotiations. As a Non-Executive Director, Mr Pestell brings significant expertise to the Company across corporate governance, commercialisation, and in contractual negotiations. Mr Pestell is Non-Executive Chair of Roolife Group Ltd (ASX.RLG) and in the past three years has also been a director of Cosol Ltd (ASX:COS).

Key Management

The Company’s key management team, other than the Executive Chairman and Managing Director, includes the following persons, whose profile is set out below:

Vipul Bansal – Chief Innovation Officer

Prof. Vipul Bansal is a globally recognised nanotechnology expert, Fellow of the Royal Society of Chemistry, and Australian Future Fellow with over two decades advancing diagnostics and biosensor innovation. He serves as Head of Research & Infrastructure at RMIT University and Director of the Sir Ian Potter Nano Biosensing Lab, leading pioneering work in nanomaterials, biosensing, and scalable manufacturing.

Sanje Mahasivam – Chief Technology Officer

Dr Mahasivam is an accomplished multidisciplinary professional with over a decade of experience spanning research, innovation, product development, and commercialisation across the MedTech, energy, and advanced materials sectors. With a PhD in Applied Chemistry from RMIT University and an MBA from Cardiff Metropolitan University, Dr Mahasivam combines scientific depth with strategic business acumen. He has led industry-scale R&D collaborations, including with Monash University and Woodside Energy, and holds multiple patents in MedTech and materials science. His leadership has driven the successful transition of patented concepts into commercially viable products and high impact industrial innovations.

Key Offer Statistics

Use of Funds

Funds raised from the Offer will be applied as follows:

For further information on the Key Offer Statistics and Use of Funds, please see the prospectus.

Risks

You are encouraged to read the Prospectus carefully as it contains detailed information about the Company and the Offer. Like all investments, an investment in Nexsen Ltd carries risk. As set out in Section 8 of the prospectus, Nexsen Ltd is subject to a range of risks, including but not limited to limited history, research and development, commercialisation, protection of IP rights, manufacturing, competition, reliance on key personnel, and reimbursement risk.

Section 734(6) disclosure: The issuer of the securities is Nexsen Ltd ACN 655 182 497. The securities to be issued are ordinary shares. The disclosure document for the offer can be obtained by clicking on the link above. The offers of the securities are made in, or accompanied by, a copy of the disclosure document. Investors should consider the disclosure document in deciding whether to acquire the securities. Anyone who wants to acquire the securities will need to complete the application form that will be in or will accompany the disclosure document (which can be done via the electronic application form which will become available by clicking the bid button above).

OnMarket has a limited allocation. The offer may close early and the 'Pay By' dates may change. Duplicate bids under the same investment profile, investor name or residential address may be cancelled.