Five Australian health science startups will share in $3.25 million in additional funding from the Medical Research Future Fund (MRFF) as part of stage two of a program being managed by digital health accelerator ANDHealth.
The five companies – Eugene, Atmo Biosciences, Immunosis, Metabolic Health Solutions and Humanetix – will use the funding to conduct further studies and scale their businesses to solve challenges across genomics and genetic testing, gut and metabolic health, immune deficiencies and improving clinical efficiencies.
“Funding from the Australian Government’s MRFF will support these high-growth potential companies to tackle major health issues impacting Australians on a daily basis,” ANDHealth chief executive Bronwyn Le Grice said.
These issues include “gastrointestinal disorders, immune deficiencies and obesity, as well as provide streamlined genetic testing and counselling, and improved care management in the understaffed aged care sector”.
The five companies are a part of the third cohort of ANDHealth companies that were started with the program last August and funded by the MRFF.
Each project has to meet commercial and clinical milestones, and as part of the program receives access to expert support and advice, introductions to global partnerships and non-dilutive funding to ensure their solutions get into the healthcare sector as swiftly as possible.
Ms Le Grice said support through grant programs like the MRFF were more important than ever.
More than half of digital health startups said that grant funding was their most likely source of future future – and the access to capital and experienced digital health investors was their top challenge in moving toward commercialisation.
“The MRFF funding paired with access to industry-led real-world experience and expertise is a crucial part of continuing to grow Australia’s digital health opportunity,” she said.
Atmo Biosciences is developing a novel, ingestible gas-sensing capsule to provide unique insights into gut health and microbiome function. Its primary focus is improving the diagnosis of motility disorders; however, there are many potential applications.
Genomics company Eugene helps Australians make informed health decisions in areas such as carrier screening for pregnancies or assessing genetic risk factors in cancer or cardiovascular areas. With the new funding, Eugene will conduct a health and efficiency benefits study, and further scale its platform.
Immunosis is a clinical stage startup company developing diagnostic products for patients with life-threatening immune deficiencies. A significant challenge for these patients is the lengthy time to gain an accurate diagnosis. Immunosis’ goal is to reduce the time it takes to get a diagnosis and access treatment.
Metabolic Health Solutions (MHS) provides a MedTech and software solution for health professionals to measure and manage a patients’ metabolic rate through indirect calorimetry. These measures can inform long-term weight management strategies and monitor metabolic health
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