The $22.3 million Biomedical Translation Bridge (BTB) program is an initiative of the Medical Research Future Fund (MRFF) delivered by MTPConnect to nurture the translation of new therapies, technologies and medical devices through to the proof-of-concept stage, with expert industry support and mentoring.
The program launched in 2019, providing funding of between $100,000 and $1 million to 21 projects for up to two years to accelerate the development of their innovations. Across the three funding rounds, the projects addressed clear unmet needs, priority indications or rare diseases. Six projects were from university or medical research institutes and 15 from SMEs.
A new report has been launched summarising the progress and impact of these projects that have now completed the BTB program.
Through a series of case studies, the report highlights the many successes these projects have had developing new therapies, technologies and medical devices – from an anti-viral nasal spray already on sale in 30 countries and a “smart” human-grade bionic implant that treats the symptoms of Parkinson’s disease, to identifying a novel preclinical development candidate for the treatment of prostate cancer and developing and manufacturing a patient isolation hood for use in hospitals for COVID-19 and infectious diseases.
The BTB program successfully achieved its key objective to “nurture, de-risk and develop competitive ventures that are attractive for further funding opportunities” and delivered real outcomes:
- 29 new technologies invented or progressed
- seven new products launched
- 56 new jobs created
Through the $22.3 million BTB program, and with industry contributions and substantial amounts of external development capital raised, a total of $156.4 million has been injected into Australia’s MTP sector.