A number of small biotechnology companies have received funding as part of the latest round of grants under the Australian Government’s Entrepreneurs Programme.
Industry and Science Minister Ian Macfarlane announced the grants as part of a further $14.6 million in commercialisation investments under the programme.
AusBiotech member company Ellume will receive $1 million to fund validation of its Respirio Flu Test. The test is the world's first simple and non-invasive flu test.
Avipep will receive $410,000 for the development of high-value cancer targeted therapies, Care Strategic $218,000 for its portable disposable patient isolation system used in infection control, and $490,000 for Cuoretech and its real-time cardiac arryhthmia mapping system.
“The Government’s Entrepreneurs Programme supports innovation in Australian businesses and helps them overcome commercialisation challenges when bringing novel products, processes and services into the marketplace," said Mr Macfarlane.
“Commercialisation drives business growth and competitiveness while also delivering national economic benefits by helping to ensure that Australia’s wealth of intellectual property is more effectively commercialised.
“This announcement brings the total amount through commercialisation investments in innovative Australian businesses to over $30 million since April this year, with 55 companies benefitting from Australian Government Entrepreneurs Programme funding.
“Further investments will be announced as the programme continues to deliver results,” he added.