Project Title: Development of the next generation, self-contained rapid-release Penthrox inhaler for safe, effective, acute pain relief
With support of the CTCM funding, the next generation Penthrox Inhaler project will be accelerated by 18-24 months. Progress of this Project is impacted as Medical Developments International's (MDI) immediate focus and dedication of raised capital is directed to expanding sales and distribution teams as committed to in its annual report.
This project will capitalise on unique Australian IP. MDI is the only company globally with the IP and specialised skills and manufacturing capabilities (cGMP) in both Pharma (API) and medical device manufacturing (ISO13485) to manufacture a Penthrox inhaler. This project will also create economic benefits through cost-savings and reducing the human resource burden to healthcare systems, including anticipated better patient and social outcomes through reducing the use of opioids in pain management. MDI will hire staff and dedicate R&D and engineering resources to the project for its entirety. MDI will also dedicate clinical, regulatory and market access staff members throughout the project.
The next generation Penthrox Inhaler is expected to generate significant international and domestic demand, through opening new market opportunities, including new international market registrations (e.g., the US) as well as expanding into new segments (e.g., emergency departments and surgical procedures). Revenue generated from this project will be reinvested locally and support up to 40 manufacturing and commercialisation jobs at MDI over the next five years.
Hence this project will meaningfully expand Australian-based local medical manufacturing activities (both in medical devices and pharmaceutical API manufacturing) and provide skills in medical manufacturing and commercialisation. This project will transform MDI into a competitive global medical device company, headquartered in Victoria.
CTCM Project Round: Two
- CTCM Grant: $1,500,000
- Industry Contribution: $1,805,800
- In-kind: $240,000
Duration: 15 August 2023 - 30 June 2025
LinkedIn: Medical Developments International (MDI)