NSW Announces $10 Million for Cutting-Edge Medical Technologies
The NSW Government has granted $10 million through the Medical Devices Fund (MDF) to a record seven companies to bring innovative medical technologies to market.
Health Minister Jillian Skinner presented the third annual MDF grants at a NSW Parliament House ceremony. The grants, which will help develop new medical devices and deliver hope for people with a range of medical ailments, were awarded to:
PAFtec Australia Pty Ltd ($2,196,000): for CleanSpaceTM Respirators, the smallest and lightest powered respirators in the world and a game changer for respiratory protection.
Atomo Diagnostics Pty Ltd ($1,800,000): for an innovative ‘all-in-one’ rapid point of care HIV diagnostic test device that replaces the need for multiple kit components and extensive procedural steps. PAFtec is an ATP Innovations portfolio company.
AllVascular Holdings Pty Ltd ($1,750,000): for a novel Arterial & Venous Access System (AVAS) that allows clinicians to isolate the liver when delivering anti-cancer agents, minimising whole body side effects and reducing treatment time.
University of New South Wales ($1,590,000): for Thru-FuzeTM Spinal fusion, a new orthopaedic device for fusion of adjacent spinal vertebrae to help alleviate chronic back pain, such as that caused by degenerative disc disease.
Kleer-i ($1,314,000): for a breakthrough next-generation biological “patch”, which is bonded over an eye wound by a low-powered laser to seal lacerations and deliver faster wound repair, without loss of vision from scarring or infection. Kleer-i is a graduate of the NSW Medical Device Commercialisation Training Program 2015.
cmee4 Productions Pty Ltd ($1,078,740): for Sound Scouts, a novel mobile game to check a child’s hearing before or during their first year of school. It aims to detect undiagnosed hearing issues that could affect their social or academic development.
Maverick Biomaterials Pty Ltd ($337,500): for innovative materials used in the manufacture of cardiovascular devices implanted via keyhole surgery, reducing the patient’s time in intensive care facilities.
One special grant of $199,000 was awarded to:
Nano-X Pty Ltd: for a new radiotherapy machine that will transform global access to cancer care. Nano-X is a graduate of the NSW Medical Device Commercialisation Training Program 2014 and an ATP Innovations portfolio company.
Mrs Skinner said the government is determined to capitalise on the growth of the state’s medical technology industry through the MDF, a key election commitment.
“The road from innovation to commercial reality can be fraught with challenges, which is why I am delighted to present more than $10.2 million to projects this year and help them along the way,” Mrs Skinner said.
“My vision is for NSW to enjoy a global reputation as a resilient, innovative centre of excellence for health and medical research, providing hope for the future and changing the lives of people who face significant health challenges.”
An independent expert panel, chaired by NSW Chief Scientist & Engineer Professor Mary O’Kane, selected this year’s MDF grant recipients from a shortlist of 12, which was drawn from 86 applications.
Due to the overwhelming response in the first two rounds of the MDF since 2013, and the early successes of the grant winners, the NSW Government has increased funding for the next four years, taking the fund from $20 million to $32.8 million.
The NSW Government will now invest $8.2 million annually in the MDF to help other innovators bring new technologies to market.
The 2016 round of the MDF is now open. For more information and details on the online self-assessment, visit: www.health.nsw.gov.au/ohmr/mdf