The Medical Technologies and Pharmaceuticals Growth Centre, MTPConnect, is funding Australia’s digital health business accelerator, ANDHealth.
ANDHealth was established two years ago as a vehicle to support digital health companies prepare for investment and international market entry.
It is chaired by former AusBiotech CEO and current Medicines Australia chair Dr Anna Lavelle. It is also supported by a range of organisations, including Novartis Pharmaceuticals and AusBiotech.
MTPConnect has now awarded the organisation $250,000 to deliver 'Digital Health Market Success Bootcamps' for up to 40 Australian digital health companies.
MTPConnect CEO Dr Dan Grant said ANDHealth’s focus is on equipping digital health innovators with the skills needed to turn ideas into commercially successful products.
“Through ANDHealth’s intensive, five-day focused curriculum, representatives from digital health companies will take a deep dive into clinical evidence, regulation, business models, intellectual property, partnering, attracting investment and exploring new international markets,” said Dr Grant.
“These are the real-world skills that underpin successful companies, allowing them to build the capital they need to continue innovating, market their products to the world and employ more Australians.
“Extending ANDHealth’s program through our Project Fund Program recognises its significant successes and lays the ground work for it to continue.”
ANDHealth 'alumni' DoseMe, which has developed a real-time precision dosing software system, was acquired by US-based Tabula Rasa HealthCare for up to US$30 million. Founder Robert McLeay will remain with the company as chief scientific officer.
ANDHealth managing director Bronwyn Le Grice says the funding will boost the business acumen of digital health companies.
“ANDHealth is the only organisation in Australia focused specifically on supporting digital health companies prepare for investment and international market entry. With this renewed support from MTPConnect, we will be able to expand our impact across a greater number of companies, from earlier in their evolution.
“The funding will allow us to leverage our existing skills and programs and the capabilities of our members, partners and global networks to continue building a vibrant, evidence-based digital health industry in Australia.”