Future of MedTech News

$14.7 Million for Innovative Medical Projects

The Federal Government is backing 17 ground-breaking medical projects to help turn innovative medical ideas into reality, helping generations of future Australians.

The Federal Government has announced it is investing more than $14.7 million in these projects through the Medical Research Future Fund (MRFF), comprising $8.9 million through the BioMedTech Horizons (BMTH) program and more than $5.8 million through the Biomedical Translation Bridge (BTB) program.

The BMTH program is a $45 million government initiative, made possible through the Strategic Agreement between MTAA and the Federal Government, that aims to move technologies to proof-of-concept and commercial development.

As part of the second funding round of the BMTH program $8.9 million will be invested in nine projects:

  • Cyban Pty Ltd, Victoria, is developing a novel brain pulse oximeter to monitor brain oxygen levels following traumatic brain injury.
  • Macuject Pty Ltd, Victoria, is developing artificial intelligence-based clinical decision support software for intravitreal management of age-related macular degeneration.
  • PolyActiva Pty Ltd, Victoria, is developing sustained release ocular implants for delivery of steroids and non-steroidal anti-inflammatory medications to the eye for the prevention and treatment of macular oedema.
  • Enlighten Imaging Pty Ltd, Victoria, is developing a novel hyperspectral retinal imaging platform for next generation artificial intelligence diagnostics.
  • Kunovus Technologies Pty Ltd, New South Wales, is developing an elastomeric motion-preserving implant to treat lumbar spine osteoarthritis as an alternative to fusion.
  • IDE Group, New South Wales, is developing a control sleeve for intravitreal injection systems.
  • IntelliDesign Pty Ltd, Queensland, is developing portable bedside low field magnetic resonance imaging.
  • WearOptimo, Queensland, is advancing cardiac microwearables for rapid, minimally-invasive personalised cardiovascular medicine.
  • Advanced Genetic Diagnostics Pty Ltd, Western Australia, is developing genetic tests to identify people at high risk of heart disease.

Industry is backing the BMTH projects by providing $10.6 million in matching contributions.

The BTB program is a $22.3 million initiative that will fund up to $1 million in matched funding to nurture the translation of new therapies, technologies and medical devices through to proof of concept.

Eight projects will share in more than $5.8 million in the first funding round of the BTB program:

  • AdAlta Limited, Victoria, has identified a therapeutic i-body protein, a class of next generation antibodies that demonstrates potent anti-fibrotic properties, and is being developed for the treatment of the lung fibrosis condition Idiopathic Pulmonary Fibrosis (IPF).
  • DBS Technologies Pty Ltd, Victoria, is developing an innovative device providing adaptive deep brain stimulation for people with Parkinson’s disease.
  • MecRx Pty Ltd, Victoria, is developing novel, small molecule therapeutics for the treatment of lung cancer.
  • University of Melbourne’s Melbourne Dental School, Victoria, is progressing a novel dental implant to commercialisation.
  • The Australian National University, Australian Capital Territory, is developing rapid and objective eye and brain testing for better management of ophthalmic and neurological diseases.
  • SpeeDx Pty Ltd, New South Wales, is seeking to commercialise its ResistancePlus® MABSC/MAC test, a rapid in vitro diagnostic tool to accurately and quickly identify bacterial infections related to cystic fibrosis, while using gene markers to predict antibiotic susceptibility or resistance.
  • Vast Bioscience, Queensland, is developing 3D small molecule sodium channel inhibitors for the treatment of postsurgical pain.
  • Noisy Guts Pty Ltd, Western Australia, has developed a non-invasive acoustic belt that uses artificial intelligence to decode gut noises to accurately diagnose and monitor common gut disorders such as irritable bowel syndrome.

Industry is providing an additional $14.6 million in support of the BTB projects.

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