MTPConnect has been engaged by the Department of Health (DoH) since October 2017 to operate the $45 million BioMedTech Horizons (BMTH) program for the Medical Research Future Fund (MRFF).
The BMTH initiative supports the development of innovative collaborative health technologies, drives discoveries towards proof-of-concept and commercialisation that address key health challenges and maximises entrepreneurship and idea potential.
The objectives of the BMTH1 program are to:
- increase the number of viable biotechnology and medical technology ideas reaching the proof-of-concept stage and beyond that are attractive for private capital or third-party investment
- expedite identification and investment into new technologies that have potential to benefit the health and wellbeing of Australians
- foster multi-disciplinary and multi-sectoral collaboration on biotechnology and medical technology ideas offering solutions for real world health challenges
- complement the $500 million Department of Health-led Biomedical Translation Fund, which provides co-investment to progress ideas past the second ‘valley of death’ to a commercialised output
- promote Australia’s international ranking as a leader in biotechnology and medical technology.
The BMTH program comprises four funding rounds, the first of which – BMTH1 – concluded activities on 29 October 2021 and is the subject of this first Impact report.
Of the 11 projects identified and funded as part of BMTH1, nine successfully completed their program of works resulting in clear advancement of their devices toward achieving their research and commercialisation objectives.
Through a series of case studies, this Impact report highlights the many successes these projects have had, developing exciting new medical products – from a 3D printed ceramic cervical spinal cage and a bioprinting treatment for cartilage injuries to next-generation CAR-T technologies to fight cancer and a microwearable sensor that reads body signals and biomarkers.
Notable achievements include:
- WearOptimo securing $30 million to manufacture its smart sensor technology at an advanced technology facility in Brisbane – for worldwide distribution
- Carina Biotech selling IP licences to the international biopharmaceutical company, Biosceptre
- Anatomics initiating a United States commercial launch of their 3D printed facial implants
- The Garvan Institute selling the fully validated Oncomine Cancer Genomics platform to SydPath
- The Bionics Institute establishing a commercial relationship with a world leading audiology medical device company for their EarGenie product
- Indee Labs generating over $1 million in revenue from top tier pharmaceutical companies.