Innovation is rarely a straight line. It’s a series of inflection points, hard-won lessons, and quiet persistence that gradually build into something transformative.

Behind every deep tech success story is a long road of reinvention and resilience. That’s why we’re especially proud to share a moment like this: the culmination of years of work, from early conviction to real impact. Being part of that journey and watching it unfold up close has been incredibly rewarding.

Recently, Kylee Hall, former CEO of Cylite, led the company through a successful acquisition by Alcon in early 2025. It marks a major milestone for the Cylite team and for us at Main Sequence. Cylite is redefining the future of eye health with a breakthrough OCT, delivering imaging precision of both the retina and anterior segment that was previously out of reach. It's a meaningful shift for optometry, ophthalmology, and vision science around the world.

This is an example of what happens when bold technology, thoughtful leadership, and an A-team come together with a clear sense of purpose. Below, Kylee shares her journey, from stumbling across Cylite in an article to helping scale the business through COVID, securing global partnerships, and steering the company through to acquisition. It’s a powerful reminder that big outcomes often start with a small moment of curiosity and the right people around the table.

Can you share with us the origin story of how you started with Cylite?

I was wrapping up the final module of my GEMBA studies at Cambridge when an old school friend sent me a link to an article about Cylite. I quickly scanned the article and replied, “This technology 

isn’t something that comes out of Australia; they must be crazy to think they can take on the established multinationals in this field.” My curiosity got the better of me. I dove deeper into researching what I could find out about Cylite’s OCT and was genuinely impressed by the technology they had developed. I reached out through their website to express my interest. Within a week, I met two of the founders, and a few weeks later, I was introduced to the rest of the team in Melbourne. I joined Cylite just before Covid hit Australia.

What are you most proud of?

It’s been a team effort to bring Cylite to where we are today. When I joined, we were a small group of around 20, and now we’ve grown to over 100 staff members. We’ve moved into a facility three times our original size and achieved ISO13485 certification. Our technology, both hardware and software, has been entirely designed and developed in-house. Along the way, we’ve won Engineering Australia’s highest award and numerous design accolades.

We’ve collaborated with local and international key opinion leaders and significant strategic partners to elevate our technology. We’ve worked with some of Australia’s finest research universities, assisting us to validate our technology for global regulatory approvals. Seeing our first commercial device sold and installed into a busy Optometry practice and then reading this article https://www.insightnews.com.au/first-in-line-for-the-hp-oct/ from that customer was a proud moment. 

Reflecting on this journey, I’m filled with pride and gratitude. Our growth and success are a testament to the team’s dedication and shared vision for the future of eye health.

What has your experience been like transitioning to a healthcare deep tech CEO?

Transitioning to a healthcare deep tech CEO has been both challenging and rewarding. When I moved into the CEO role from a commercial and clinical position at Cylite, I became MSV’s first non-founder CEO in their portfolio. The support from the Board has been invaluable, and I’ve learned a great deal from their guidance.

This role has provided numerous learning experiences, from navigating the complexities of the healthcare industry as a manufacturer to understanding the nuances of deep tech optical innovation. Each challenge has been an opportunity to grow and develop new skills. The journey has taught me the importance of adaptability, strategic thinking, communication and collaboration.

These experiences have not only shaped my leadership style but also reinforced the value of continuous learning and resilience.

As Cylite continued to grow and evolve, how did your thinking shift toward maximizing value for a successful exit?

For later-stage MedTech startups, the value of your technology often hinges on founding IP and regulatory approvals. If you lack approvals for markets like Europe or the US, it’s vital to identify and address the steps required, such as clinical trials, safety evaluations, and compliance with regulatory standards.

Ensuring you have the right people with the right skills in the right positions is key for maximizing deliverables and thus the value of the company. The team members who were instrumental in your early development might not be the best fit for the next phase of growth. Change management is challenging. Transitioning from a small, cohesive team to a larger organization can lead to silos and a more rigid structure. While change is rarely embraced, it is essential for growth. Having a supportive Board that understands what is needed to maximize the business's potential and value is key.

Engaging Key Opinion Leaders (KOLs) early can seed the market with strong messaging, their endorsement builds credibility and visibility within the industry.

Belief in the technology is key. When external partners see your passion, they become more 

interested and engaged. It's a delicate balance: determining how much equity to dilute to position yourself for growth while considering potential exit strategies. This involves weighing the pros and cons and requires constant planning, often internally, but ideally with the support of an engaged Board.

Strategic partnerships with established industry players often present the best exit opportunities. Whatever you’re thinking around an exit, it's crucial not to rely solely on one option; always have a plan B, and possibly even a plan C, and remember, everything takes longer than you imagine, even with your best planning.

What would people be surprised to know about you?

I grew up in country NSW, where I became a proficient swimmer thanks to our only swimming option—an ocean pool. When I finally had a black line to follow, my skills really took off! Later we moved to a small beef cattle farm, where I discovered a new passion for riding horses. This upbringing and lifestyle led me to need a truck license. So, not many people know that I’m not only a good swimmer but also quite handy behind the wheel of a truck or tractor.