MTPConnect’s CTCM program invests $7.2 million to accelerate medical device innovations
21 October 2022
MTPConnect and the Minister for Health and Aged Care, The Hon. Mark Butler MP, today announced $7.2 million funding for five cutting edge medical technology projects through the Clinical Translation and Commercialisation Medtech (CTCM) program.
The CTCM program, a Medical Research Future Fund initiative delivered by MTPConnect, is supporting new medtech innovations to improve the health of Australians, while also helping local manufacturing activity.
The exciting projects include a wearable device providing functional vision for blind and low vision people, a hand-held imaging device to improve outcomes from cancer surgery including breast conserving surgery, a device to improve the accuracy of catheter placement in critically ill babies and children, a compact platform technology to speed up microbiology workflow and a next generation condom for better contraception and sexual health.
On top of the program funding, these projects have attracted $12.9 million in additional contributions from industry, injecting a total of $20 million into the sector.
CTCM Projects Round 1 Funding Awarded to:
- ARIA Research Pty Ltd, NSW, $1,500,000 award for ARIA Non-Invasive Bionic Vision System Clinical Trial and Pilot
- Eudaemon Technologies Pty Ltd, NSW, $1,500,000 award for Clinical Trial of the Next Generation Condom
- LBT Innovations Ltd, SA, (ASX Listed) $1,500,000 award for APAS Compact – Development of a desktop device for automated microbiology culture plate reading and reporting
- Navi Medical Technologies Pty Ltd, VIC, $1,239,187 award for Safer care for critically ill children: clinical translation of a new medical device to place and monitor paediatric central vascular catheters
- OncoRes Medical, WA, $1,500,000 award for the commercialisation of a diagnostic imaging system for cancer surgery
MTPConnect CEO, Stuart Dignam, said this funding from the CTCM program provides a substantial boost for the translation, commercialisation and implementation of Australian medical devices.
“These five promising projects selected in NSW, South Australia, Victoria and Western Australia have the potential to address unmet needs and improve the health and wellbeing of all Australians,” Mr Dignam said.
“The projects awarded funding are providing new solutions for blind and low vision people, critically ill children, breast cancer patients, patients with infectious diseases and those requiring alternative contraceptive options.
“A distinctive feature of the CTCM program is the emphasis on translation and we thank our program Partners – Medical Technology Association of Australia (MTAA), Medical Device Partnering Program (MDPP) and Cicada Innovations, for their work in providing mentoring and commercialisation advice to applicants and those awarded funding,” said Mr Dignam.
The successful awardees will be supported by our education partner The BridgeTech Program and infrastructure partner Therapeutic Innovation Australia (TIA).