Grants available for medtech and biotech nationally

The Medical Research Future Fund has committed to an early stage translation and commercialisation support grant with the following streams:

  • Stream 1: preclinical medical research or medical innovation projects with commercial potential
  • Stream 2: early clinical development of novel drugs, or novel uses for existing drugs, with commercial potential
  • Stream 3: early clinical development of medical devices with commercial potential
  • Stream 4: early stage development of digital health technologies with commercial potential

Each stream has almost $20M committed to it with investment to be mostly placed in 2022. 

CUREator is the new national biotech incubator select to support streams 1 and 2. The program has already closed one round and will run a second in 2022.The Preclinical Stream offers (non-dilutive) grant funding up to $500,000 for preclinical medical research or medical innovation projects – including devices, therapeutics and vaccine development. For the EOI stage, all applications must provide a budget for their ‘proof of concept’ research plan (i.e., submit a budget up to $500,000).  

The Clinical Stream will provide (non-dilutive) grant funding of up to $1,500,000 to support the clinical development of novel, clinical stage drug therapies to treat disease. Opportunities that successfully receive funding through this stream, will also have the opportunity to apply for matching (dilutive) investment from MRCF/Brandon Capital Partners or third-party funding. 

The next round is expected to open in June 2022, with an EOI. Selected applications will be provided with 10 weeks to finalise the full application. Project will have no more than 2 years to be completed. Refer for more details: https://www.mrcf.com.au/cureator/ 

Stream 3 is being supported by MTPConnect, providing funding of between $250,000 and $1.5M towards the development of a medical device for human use and that has already been validated with research and/or preclinical studies. Expressions of interest can be made here: https://www.mtpconnect.org.au/programs/ctcm/R1 

Round 1 closes on 11 March 2022. 

Finally stream 4 is being supported by ANDHealth for the development of digital health technologies and will be open to companies who have ‘technologies that use computing platforms, connectivity, software and sensors, either alone or in combination with physical products, to treat, diagnose, cure, mitigate and/or prevent disease or other conditions”. We note that this does not include digital health records, secure messaging, ePrescribing or other national digital health infrastructure. Another round is due in July/August 2022 and five companies will be selected. They will work with a group of industry specialists to identify gaps in the business strategy and then funding is provided to third parties to address those gaps. 

Details of the previous round can be found here:
https://www.andhealth.com.au/our-programs/plus

If you would like to know more or have any questions regarding this email, please contact your accountant: 

Melbourne team

Brendan Brown – brendanb@primefinancial.com.au

Simone Quin – simoneq@primefinancial.com.au

Brisbane team

Matthew Smith – matts@primefinancial.com.au

Sean Fincham – seanf@primefinancial.com.au

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