Posted: 25 July 2023
MTPConnect and the Minister for Health and Aged Care, Hon. Mark Butler MP, today announced $6.2 million of funding for six medical technology projects through the Clinical Translation and Commercialisation Medtech (CTCM) Program.
The CTCM program, a Medical Research Future Fund initiative delivered by MTPConnect, is supporting the development of these promising medtech projects including: a contrast-free combined air flow and blood flow 4D lung function scanner; a new ablation treatment option for atrial fibrillation; a next generation inhaler device for acute pain relief; a more accurate airway pressure monitor to detect respiratory distress in newborn babies on breathing support systems; a novel lactate biosensor to revolutionise fetal monitoring during labour; and a micro sized device implanted in the eye to reduce intraocular pressure and treat glaucoma.
In addition to the program funding, these new projects have attracted $8.9 million in additional contributions from industry, injecting a total of $15.1 million into the sector to drive the development of Australian medical technologies.
CTCM Projects Round 2 Funding Awarded to:
- 4DMedical Limited, (ASX:4DX), VIC, $1,100,000 award for the development of XV-Perfusion: A contrast-free, perfusion-enabled 4D lung scanner
- CathRx Ltd, NSW, $1,500,000 award for the development of a Pulsed Field Ablation System for Treatment of Atrial Fibrillation
- Medical Developments International Limited, (ASX:MDI), VIC, $1,500,000 award for the development of next generation, Self-contained rapid-release Penthrox inhaler for safe, effective, acute pain relief
- Ventora Medical Pty Ltd, VIC, $500,000 award for the Development and Clinical Translation of a Neonatal Airway Pressure Monitor
- VitalTrace Pty Ltd, WA, $656,666 award for Clinical translation of a novel continuous lactate biosensor for fetal monitoring
- Vivid White Pty Ltd, VIC, $1,000,000 award to conduct the Clinical Study, Manufacturing and Registration of a Medical Device to Treat Glaucoma and Prevent Blindness
MTPConnect CEO, Stuart Dignam, said the CTCM program identifies and nurtures high quality medical device projects that have commercial potential and supports their translation through early clinical trials.
“We are backing homegrown Australian innovation and helping to bring new medtech products to market to improve the health and wellbeing of Australians,” Mr Dignam said.
With our program partners Medical Technology Association of Australia, Medical Device Partnering Program, Cicada Innovations, the BridgeTech Program and Therapeutic Innovation Australia we look forward to working with the successful projects to support the development of their innovations.”
About Clinical Translation and Commercialisation Medtech Program
The Clinical Translation and Commercialisation Medtech (CTCM) program, delivered by MTPConnect, is a $19.75 million MRFF initiative. The CTCM program identifies and nurtures high quality medical device projects that have commercial potential and supports their translation through early clinical trials.
