Nanosonics chief Michael Kavanagh wants to build Australia's next medical device success story, replicating the success of his old employer, bionic ear maker Cochlear. Photo: Louie Douvis After a disappointing year for local biotechnology stocks, in which a number of high profile companies faltered on the back of poor clinical results or internal blunders, investors are scouring the sector for the next big thing in 2015.