GOVERNMENT INVESTS $14.7 MILLION IN INNOVATIVE MEDICAL PROJECTS

The Hon. Alan Tudge MP.
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2 months ago
GOVERNMENT INVESTS $14.7 MILLION IN INNOVATIVE MEDICAL PROJECTS
The Hon. Alan Tudge MP
The Morrison Government is backing 17 ground-breaking medical projects to help turn innovative medical ideas into reality, helping generations of future Australians.
 
The Government 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 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.
 
The Morrison Government is proud to provide unprecedented backing for our best and brightest researchers, and for entrepreneurs to turn ideas into treatment.
 
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Industry, Innovation and Science