The federal government has announced that a partnership between BioCurate, MTPConnect, UniQuest and the Medical Device Partnering Program (MDPP), will operate the $22.3 million Biomedical Translation Bridge (BTB) Program.
“These organisations bring decades of industry-based experience to this major research effort. Successful research projects will receive between $200,000 and $1 million over a maximum of three years. MTPConnect will also seek additional funding for these research projects from philanthropic and third-party sources,” said health minister Greg Hunt.
BioCurate CEO Dr Glenn Begley said the announcement was recognition of the organisation's industry-experience in drug development.
Through the BTB partnership, BioCurate and UniQuest will assess and recommend eligible ventures for funding in the area of therapeutics, while MDPP will do the same for medical devices.
A feature of the program is the provision of expert advice, education and mentoring to those preparing applications and those awarded funding. Successful applicants will receive hands-on guidance, mentoring and project management advice throughout the life of the Program, leveraging the industry and commercialisation experience of BioCurate and its partners.
MTPConnect, a not-for-profit organisation formed to accelerate the growth of Australia’s medical technology, biotechnology and pharmaceutical sector, will administer the program.
According to Dr Dean Moss, CEO of UniQuest, “In this partnership with MTPConnect and BioCurate we’ll draw on UniQuest’s commercialisation and drug discovery expertise to help develop Australian technologies to the stage where they can attract further capital and support, bridging the funding gap and giving the country’s ground-breaking medical research the best opportunity to create change in the lives of people in Australia and around the world.”
“BioCurate’s focus is working closely with researchers to address the barriers that limit the translation and commercialisation of their early stage research. The BioCurate team brings extensive ‘hands on’ international industry experience and we look forward to sharing our scientific and commercial expertise as part of the BTB Program,” added Dr Begley.