Government invests $14.7 million in innovative medical projects
A media release from The Hon Alan Tudge MP, Acting Minister for Health, announcing $14.7 million for 17 ground-breaking medical projects to help turn innovative medical ideas into reality, helping generations of future Australians.
The Hon Greg Hunt MP
Minister for Health and Aged Care
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.