# Hatchtech Pty.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hatchtech-pty

- Industry: Pharmaceuticals
- Headquarters: Melbourne, Australia
- Website: www.hatchtech.com.au
- Total disclosed funding: $2.2M
- Latest round: Series A (May 30, 2005)
- Investors on record: 5

## About

Hatchtech Pty. Ltd. is an Australian biopharmaceutical company pioneering innovative treatments for head lice infestations, focusing on the development and commercialization of its unique prescription product, Xeglyze® Lotion.Founded in Melbourne, Australia, Hatchtech Pty. Ltd. specializes in developing medical solutions for head lice. The company achieved FDA approval for its flagship product, Xeglyze® Lotion, in June 2020. Hatchtech has successfully raised AUD 12.6 mn in its latest funding round led by OneVentures, attracting a diverse group of investors including Blue Sky Private Equity, QIC, Uniseed, and the University of Melbourne. The firm has completed 7 deals.Hatchtech Pty Ltd's primary product is Xeglyze® Lotion, a prescription pediculicide specifically designed for the topical treatment of head lice infestations in patients aged six months and older. Approved by the FDA in June 2020, Xeglyze® offers a unique lotion formulation that requires only a single 10-minute application, eliminating the need for nit combing, which is often a challenging aspect of traditional lice treatments. The active ingredient, abametapir, operates through a novel mechanism of action that inhibits metalloproteinases critical to egg development and lice survival, significantly reducing the likelihood of resistance that has been observed with other treatments containing permethrin, malathion, and pyrethrin. The product is geared toward addressing the substantial global burden of head lice infestations, which exceed 100 million cases annually, with particular focus on the North American market, where it is estimated that there are between 6 to 12 million cases each year.The revenue model for Hatchtech Pty Ltd is primarily driven by the sale of its flagship product, Xeglyze®, through a direct-to-consumer approach and partnerships with healthcare providers and pharmacies. Transactions occur on a prescription basis, with healthcare professionals facilitating the initial patient access and treatment recommendation. The company benefits from established relationships with pharmacies that stock Xeglyze®, ensuring accessibility for end-users while simultaneously managing supply chain logistics. Pricing strategies reflect the product's novel formulation and clinical efficacy, positioning it within the competitive landscape of pediatric dermatological treatments. Hatchtech’s revenue is strengthened by its comprehensive patent protection and FDA approval, providing a competitive edge in both existing and emerging markets.Hatchtech plans to leverage the recent funding of AUD 12.6 mn to further develop its pipeline of products aimed at treating head lice. The company is working on expanding its market presence in North America and Europe by the end of 2023, focusing on strategic partnerships with healthcare providers to enhance distribution and accessibility. Additionally, Hatchtech aims to introduce new formulations of Xeglyze® in the coming years, addressing various treatment needs within the pediatric population.

## Funding rounds

- Series A, May 30, 2005, $2.2M — GBS Venture Partners, Uniseed, QIC, Westscheme Pty. Ltd., Biocomm Services Pty. Ltd.

## Investors

- GBS Venture Partners (https://capitalatlas.ai/funds/gbs-venture-partners) — Series A
- Uniseed (https://capitalatlas.ai/funds/uniseed) — Series A
- QIC (https://capitalatlas.ai/funds/qic) — Series A
- Westscheme Pty. Ltd. — Series A
- Biocomm Services Pty. Ltd. — Series A