Biomedical Translation Fund delivering for Australian patients
BioScience Managers have today announced investments in three leading edge biomedical innovations, with $13.3 million from the Biomedical Translation Fund.
These high-potential Australian innovations include:
- $5 million for a hands-free robotic device to help people with reduced mobility, including severe disability, to walk, exercise and rehabilitate, developed by Rex Bionics;
- $3.3 million to develop neuromodulation technologies to help people suffering from chronic back pain and other debilitating conditions, developed by Saluda Medical; and
- $5 million for data aggregation and commercialisation services for makers of ‘smart’ medical devices, developed by CHARM Informatics.
Bill Ferris AC, Chair of Innovation and Science Australia, welcomed the announcements as further evidence that the BTF is providing a significant boost to Australian innovation and commercialisation.
“Of special note is that the principal co-investors with Government include leading superannuation funds, namely Australian Super, Hostplus, Hesta, and Statewide Super. This marks a new era for long term institutional venture capital into the health and medical research sector.” He said.
“The investments by BioScience Managers in these three innovative companies producing leading-edge technologies is a very positive signal for the Australian life sciences sectors and broader innovation system.”
“The BTF is demonstrating that Australia has the resources and expertise required to assist our world-leading researchers and life science companies deliver life-changing outcomes for patients through commercialising great Australian ideas.” Mr Ferris said.
ISA is an independent statutory Board tasked with providing whole-of-government policy advice on all innovation, science and research matters. The ISA Board has oversight of the BTF and responsibility for selecting participating fund managers.
Tim Powell, Office of Innovation and Science Australia
Phone 0428 558 384