Posted: 23 June 2025
A substantial investment of $12.07 million was announced by MTPConnect to support 14 domestic life science companies developing innovative medical devices and pharmaceuticals aimed at reducing the impact of cardiovascular disease and diabetes (types 1 and 2). This funding was provided through MTPConnect’s Targeted Translation Research Accelerator (TTRA) Drugs and Devices program, an initiative of the Medical Research Future Fund.
The announcement was made concurrently at the BIO International Convention in Boston, one of the largest biotech events globally, bringing together industry leaders from Australia and around the world.
MTPConnect CEO Stuart Dignam emphasized the critical nature of this funding to support Australian innovations in addressing these significant chronic health issues. “Access to funding remains the biggest challenge for start-ups and innovators. The capital markets, especially when you’re at an early stage with your innovation, are particularly tough – and now they have heightened global business uncertainty and tariff turmoil to contend with,” Mr. Dignam stated.
Following a comprehensive and rigorous assessment process, funding was awarded to established SMEs, start-ups, and spin-outs across New South Wales, South Australia, Tasmania, Victoria, and Western Australia. These 14 new projects attracted over $17 million in additional contributions from the awarded companies and their partners.
MTPConnect’s investment, combined with the matching industry contributions, represented nearly $30 million in support of Australia’s brilliant life science innovators. Notably, 50% of the funded SMEs were organizations led by women, significantly surpassing the representation of women in senior management or CEO roles within STEM industries in Australia.
In addition to essential funding, these 14 companies would receive ongoing acceleration support through mentoring and access to specialist advice from MTPConnect, and guidance from industry impact partners, CSL and Roche Diagnostics. This support aimed to leverage global industry expertise to boost the chances of success for these start-ups and SMEs.
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