A $28.5 million commercialisation boost will soon be available to MedTechs fighting heart disease and diabetes under the latest round of a Medical Research Future Fund program.
The second round of the Targeted Translation Research Accelerator (TTRA), which focuses on commercialising novel therapeutics and devices for diabetes and cardiovascular disease, will be run by former industry growth centre MTPConnect.
MTPConnect will deliver the grants program in collaboration with CSL and Roche Diagnostics, with expressions of interest to open later this month.
The TTRA intends to support investment in development or commercialisation projects led by small to medium sized enterprises. MTPConnect will award a maximum of $1.5 million to each drug or device project.
Of the $28.5 million to be made available, the organisation must also invest a minimum of $3 million in projects targeting cardiovascular disease, type one diabetes, and type two diabetes.
Successful grant applicants will be partnered with either CSL or Roche Diagnostics to receive access to industry expertise and support.
The first TTRA round in 2020 was also designed and delivered by MTPConnect. As of June 2023, the TTRA had funded two national research centres and 22 individual projects, leveraging $46.5 million in co-contributions.
Unlike the first round, the second round of the TTRA offered separate grants for the cardiovascular disease focused stream and the diabetes stream.
MTPConnect chief executive Stuart Dignam said the translation and commercialisation focused program will make “all the difference for SMEs with moonshot ambitions”.
“By backing Australian SMEs with access to leading industry expertise, as well as funding, we’re maximising chances for commercialisation success and working to lift Australia up the global innovation league table,” he said.
Matthew Hoskin, the chief executive of Victorian MedTech Nirtek, said the support it received in 2021 has enabled it to make “enormous progress” in developing and testing a prototype device for identifying coronary plaque in arteries.
MTPConnect has previously delivered the $19.75 million Clinical Translation and Commercialisation Medtech program under the Medical Research Future Fund, delivering up to $1.5 million to SMEs for prototype development and product testing, clinical trial activity, and regulatory support.
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