Companies at ATP Innovations secure $7.88M from NSW Government Dept of Health
Health science companies at ATP Innovations Sydney were last night awarded $7.88m from the $8.63m NSW Department of Health Medical Devices Fund.
“This is an outstanding result for our portfolio companies and for the medtech industry in NSW,” says ATP Innovation’s Chief Innovation Officer, Ben Wright.
“ATP Innovations is all about encouraging the state’s talent and we have an unsurpassed record in helping medical technology start-ups and scale-ups build and commercialise their intellectual property.”
Elastagen awarded $4m http://www.elastagen.com/
Elastagen is a world leader in the development and application of products based on its unique tropoelastin-based biomaterial platform. The company is applying its tropoelastin platform technology to three main product areas including atrophic scars such as stretch marks and acne scars, derm-aesthetics, and tissue repair.
Recipient of a 2013 NSW Department of Health Medical Devices Fund award, Elastagen established the key benefits of tropoelastin in skin regeneration and wound repair. This led to international interest and support.
The 2016 MDF award will enable commercial-scale manufacture of Elastagen’s proprietary tropoelastin protein, create skilled jobs and support the company’s pathway to a commercially successful NSW device company.
Nano-X awarded $2.58m http://nano-x.com.au/
Nano-X is an innovative cancer treatment system, set to change the delivery of radiation therapy from large reference centres to small-town hospitals. Nano-X’s advanced on-board imaging/planning system captures 3D images in real-time, controls the radiation beam, and automatically delivers the correct amount of energy to targeted tissue. By moving the complexity of a radiotherapy system from hardware to software, Nano-X is less expensive to produce, less expensive to site, and can deliver a more complete therapy to patients outside major urban locations.
The 2016 MDF award will enable Nano-X to commence animal treatments using the prototype machine, translate learnings from prototype to final design of clinical system, obtain ISO-13485 certification, and build a strong team to enable a scalable and sustainable NSW medical device company.
Respiratory Innovations awarded $1.3m http://www.breathewell.co/
Breathe Well is an interactive medical device that allows breast cancer patients to improve their own treatment, simply by breathing. In breast cancer radiation therapy, nearby healthy issues such as the heart and lungs are at risk of receiving unnecessary, and potentially fatal, radiation damage. Breathe Well educates patients to hold their breath to put as much distance as possible between the heart and radiation beam and this action enables the most accurate breast radiation treatment possible.
The 2016 MDF award will enable Respiratory Innovations to expand its team, complete manufacture of a device for certification by the Australian Therapeutic Goods Administration, and accelerate sales nationally.
“None of this incredible technology comes about without collaboration between talented entrepreneurs, researchers, universities and industry,” says Mr Wright. “The NSW government’s approach of supporting medical innovation and increasing the uptake of locally produced devices in the health system is not only cost effective, but contributes to improved patient outcomes in our own backyard.”
About ATP Innovations
ATP Innovations is Australia’s leading incubator for advanced technology startups. The incubator is internationally recognised and jointly owned by four of Australia’s leading universities: Australian National University, University of New South Wales, University of Technology Sydney and University of Sydney.
ATP Innovations partners with technical founders to help them accelerate and achieve global commercial success. Its portfolio currently has more than 70 companies across life sciences, hardware and enterprise software technology sectors. In the past 12 months ATP Innovations has helped its portfolio of companies raise $79 million in public and private funding.
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