Roche Diagnostics and CSL back local start-ups in industry partnership

Diagnostics & MedTech News: While Australia is recognised as a global research leader, ranking in the top 10 of the Global Innovation Index, the nation slip down to 30th for outputs from that research.

MTPConnect is injecting much-needed funding and support for Australian small to medium enterprises (SMEs) to commercialise innovative medicines and medical technology to better treat cardiovascular disease and diabetes when it rolls out new investment through its Targeted Translation Research Accelerator (TTRA).

MTPConnect CEO Stuart Dignam said the new investment will open for expressions of interest later this year.

“Our new TTRA initiative, covering both therapeutics and devices, is designed with translation and commercialisation in mind, making all the difference for SMEs with moonshot ambitions,” Dignam said.

“Supporting translation of research into the clinic will also develop domestic research and development (R&D) talent skilled in commercialisation, improve healthcare options and create more jobs in our life sciences sector.

“Our experience running similar accelerator programs has revealed that the value of non-dilutive funding – along with access to industry knowledge, mentoring, market expertise and commercialisation skills – is a powerful multiplier for SMEs that truly boosts their chances of success.

“That’s why we’re delighted to bring industry giants CSL and Roche Diagnostics into the program to ensure our home-grown innovators can tap into the very best of industry expertise and support.”

“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.

“And at the same time, by tackling chronic health problems like cardiovascular disease and diabetes complications, we are building Australia’s medical industry capability to make more medical products, here in Australia,” Dignam added.

Victorian medtech startup Nirtek is a recipient of MTPConnect accelerator support, receiving TTRA backing in 2021 for its device that can identify unstable coronary plaque in arteries and help cardiologists prevent future heart attacks.

Nirtek CEO Matthew Hoskin said the support made all the difference.

“With funding and advisory support from MTPConnect’s accelerator, our company has made enormous progress in developing and testing a prototype device and we’re now seeking the next stage of investment to enable us to build and test a complete trial-ready system and conduct our first in-human clinical trial,” said Hoskin.

Professor Bronwyn Kingwell, Research Portfolio Strategy and Therapeutic Area Lead at CSL explained the company’s support for the initiative.

“CSL’s support of this research commercialisation Accelerator dovetails nicely with our long-term commitment to supporting Australia’s biotech ecosystem. With the Accelerator’s support, we hope to see increased therapeutic development in cardiovascular disease and diabetes to benefit patients in Australia and around the world,” said Professor Kingwell.

Kenny Lean, Head of Access and Innovation (Interim) at Roche Diagnostics Australia said “By leveraging our expertise in diagnostics and partnering with Australian SMEs, we aim to drive innovation and commercialisation in the field of cardiovascular disease and diabetes.

“This initiative aligns with our commitment to advancing healthcare through innovative solutions and emphasises our dedication to supporting local talent and improving patient outcomes.”

The TTRA’s program will call for expressions of interest from SMEs developing medicines and medical devices by late September 2024.

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