Posted: 21 March 2023
We are delighted to announce that, ANDHealth, in partnership with Brandon BioCatalyst, has been selected by the Medical Research Future Fund to deliver the $50m BioMedTech Incubator Program (BMTI).
This investment substantially increases the combined non-dilutive funding and support available through existing Brandon BioCatalyst and ANDHealth programs to more than $115m.
The establishment of the BMTI will accelerate the commercialisation of promising Australian biomedical and digital health discoveries, resulting in new jobs, attraction of private capital and ultimately positive impact for patients.
This new program will allow selected companies to access up to $5m in non-dilutive funding over a 5-year period to support the translation and commercial development of their biomedical and digital health technologies.
With the median amount of capital raised by Australian digital health companies being less than $400,000 and access to capital remaining the single biggest barrier to commercialisation reported by our sector, this new program and partnership creates Australia’s most significant non-dilutive funding opportunity for our most promising digital and connected health companies.
The partnership between Brandon BioCatalyst and ANDHealth will also offer companies access to an unprecedented combination of expertise, spanning early-stage drug development through to cutting edge medical devices and evidence-based digital health technologies.
From an ANDHealth perspective, we are delighted to be partnering with our colleagues at Brandon BioCatalyst, bringing our specialised digital and connected health identification, selection and growth capabilities to this joint initiative.
More details about will be made available as the program comes online in the coming months.
More information about the MRFF BMTI Program can be found here.
Please click here for the Brandon BioCatalyst & ANDHealth Joint Media Release.
