$47M accelerator program for MedTech, Biotech and Pharma sectors in diabetes and cardiovascular disease

Medical News: The operation of the Australian Government’s $47 million Targeted Translation Research Accelerator (TTRA) initiative for diabetes and cardiovascular disease has been awarded to MTPConnect, the growth centre for the medical technology, biotechnology, pharmaceutical and digital health sector.

“Diabetes and cardiovascular disease affects millions of Australians,” said the Minister for Health, the Hon Greg Hunt MP.

“Heart disease kills one Australian every 12 minutes, while diabetes causes more than one in ten deaths in our nation.”

Minister for Industry, Science and Technology Karen Andrews said the nature of the investment meant there was also great economic potential.

“You can’t put a price on health, but this investment will unlock collaboration that is going to save lives as well as commercialise ideas which can grow our economy and create Australian jobs. 

“A key focus of this accelerator will be on bringing new and innovative drugs and devices to market which can help Australians but also be sold to the world.

“The medtech sector is incredibly vibrant in Australia but the coronavirus pandemic has highlighted the opportunities for us to grow that even further.”

The MTPConnect Diabetes and Cardiovascular Accelerator (Accelerator) program will provide a new integrated research program to improve the management and treatment of diabetes and cardiovascular disease (D&CVD).

The Accelerator will:

• Establish research centres for diabetes and cardiovascular disease

• Establish a contestable funding program to support D&CVD research projects

• Promote the clinical and commercial translation of novel therapeutics and devices for D&CVD

The Accelerator will be guided by an expert Board appointed by the Minister for Health and will work in partnership with leading D&CVD groups to improve the health and wellbeing of local, national and international communities through research, education and clinical practice.

The Accelerator will take a national and inclusive approach to working with clinicians, researchers, health administrators, Aboriginal and Torres Strait Islander health groups and consumers.

MTPConnect Managing Director & CEO, Dr Dan Grant, has welcomed the awarding of the program, through the Medical Research Future Fund (MRFF), which he says MTPConnect is uniquely placed to deliver.  

“At its core, the MTPConnect Accelerator will stimulate collaboration across relevant industry, research and clinical organisations and leverage strengths across the sector to ultimately produce novel preventative interventions, diagnostic and therapeutic approaches and products for D&CVD that reduce the burden on patients, families and communities,” he said.

“The TTRA program will drive a new focus on research efforts for the most pressing areas of unmet clinical and research needs in D&CVD, which are leading causes of death and disability in Australia,” Dr Grant said.

MTPConnect Chair Sue MacLeman says the MTPConnect Accelerator program will establish research centres for D&CVD, provide funding support and promote clinical and commercial translation.

“MTPConnect continues to make a valuable contribution to the growth of the MTP sector. Our Growth Centre work is now complemented by four Medical Research Future Fund programs worth nearly $147 million.Through our work fostering collaboration, addressing workforce challenges, opening-up international markets and optimising regulatory and policy frameworks we are playing a key role to drive Australia’s health and economic wellbeing,” Sue MacLeman said.

Details of partner organisations for the MTPConnect Accelerator will be announced soon.