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News & Trends - MedTech & Diagnostics

Funding to take novel medical devices from discovery to manufacture

Health Industry Hub | March 26, 2021 |

MedTech News: Australia’s best and brightest researches can apply for the fourth and final round of the $45 million BioMedTech Horizons (BMTH) program, which has been successful in bringing cutting edge medical devices to market.

The Australian Government, through the BMTH program, offers $3.2 million in partnership projects to help get innovative new medical devices to the next steps of starting human trials and early stage manufacturing.

The funding is available for up to four well-developed projects that can be completed within a year, and will see devices take the final steps towards commercialisation.

Managing Director & CEO, Dr Dan Grant, says this will be the final funding round for BMTH and it will provide a unique opportunity for Australian small to medium size enterprises (SMEs) to accelerate the development of their cutting-edge medical technologies through to early stage manufacturing in Australia.

“The BMTH program supports new medical technologies to reach proof-of-concept, or beyond, so they are attractive for private capital investment and commercialisation,” Dr Grant said.

“In Round 4, $3.2 million will be deployed into four projects that can be completed within 12-months, see the device move beyond a Technology Readiness Level Scale Level (TRL) of 5 and involve manufacturing in Australia.

“Australian-based SMEs are eligible, but they must control or have the legal right to access and use the patent(s), trademarks or other intellectual property necessary to undertake the proposed activities and matched funding is required. 

“The projects we back for this fourth and final round of the BMTH program will see the production of medical device prototypes in Australia, leveraging our domestic manufacturing capabilities and supporting the commercialisation of life saving medical products,” Dr Grant said.

The BMTH program has already achieved great results, with recent funding recipient WearOptimo announcing a deal to manufacture its next generation Microwearable sensor health technology.

The wearable device gives patients, and their doctors, early warning of heart attacks, heat stroke and other life-threatening events. The device will be manufactured in Brisbane and distributed worldwide.

The Government supported WearOptimo’s research through the BMTH program, to develop the Microwearable technology itself and then its application in monitoring dehydration and cardiac health.

The Government funds the program through the $20 billion Medical Research Future Fund (MRFF).

Expressions of interest for funding under Round 4 of the BMTH program close on Monday 19 April 2021 at 5:00pm AEST and details on how to apply can be found at the MTPConnect website.

The BMTH program has awarded funding to 41 projects since the program was launched in 2018.


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