PERTH, Australia – Australia’s biopharma sector fared better than the country at large at the end of the financial year that ended June 30, as the country saw GDP fall 7% in the final quarter, the largest drop since 1959. Australia’s trading relationship with China helped the country sidestep the global financial recession of 2008, but the recent divide between the U.S. and China is also putting a wedge between Australia and China relations.

Photonicare Inc., which has developed the Tomi Scope for noninvasive imaging of the middle ear, has attracted the attention of investors. It has reported an oversubscribed $5.2 million series A financing led by I2e Management Co. Inc., with OSF Ventures, Sony Innovation Fund and Dreampact Ventures also participating.

Lixte Biotechnology Holdings Inc., a small OTC-listed company developing inhibitors of protein phosphatases to be used alone and in combination with cytotoxic agents and/or x-ray and immune checkpoint blockers for treating cancer, has filed to raise $10.7 million in a public offering of shares on Nasdaq.

Biofourmis Inc. scooped up $100 million in a series C round that was led by Softbank Vision Fund 2. The funds are earmarked to accelerate U.S. and global expansion of Biofourmis’ artificial intelligence (AI)-powered health analytics platform and to advance its pipeline of digital therapeutics. The company focuses software-based therapeutics and AI tools for personal predictive care and has U.S. FDA-cleared products that aim to boost clinicians’ ability to remotely monitor and treat patients.