The Australian Government has committed $12 million to accelerate the development of Australian-made medical devices and pharmaceuticals targeting cardiovascular disease and diabetes, two of the nation's most pressing health challenges. The funding, distributed through MTPConnect's Targeted Translation Research Accelerator program under the Medical Research Future Fund, will support 14 domestic biotech and medtech companies across multiple states.
Addressing Critical Health Burden
The investment addresses significant unmet medical needs, with over 1.3 million Australians living with diabetes and another 1.3 million adults affected by heart, stroke, or vascular disease conditions. Cardiovascular disease represents the second leading cause of death in Australia, while diabetes ranks among the top 10 causes of mortality.
"This funding will support exciting new treatment and management options for Australians with cardiovascular disease and diabetes," said Minister Butler. "Our government is expanding the Australian-made medtech and biotech sector as part of our vision of a future made in Australia."
Medical Device Innovation Portfolio
Six companies received funding to develop advanced medical devices addressing various cardiovascular and diabetes-related conditions:
CathRx (New South Wales) secured $1.1 million for atrial fibrillation treatment solutions, while Theia Medical (South Australia) received $1 million to develop technologies for high-risk coronary artery disease management. Venstra Medical (New South Wales) obtained $1 million for cardiogenic shock interventions.
Wavewise Analytics (Victoria) was awarded $997,000 for stroke-related innovations, and ZiP Diagnostics (Victoria) received $1.019 million for preeclampsia detection in pregnancy. I D & E (New South Wales) secured $1.2 million for ocular drug delivery systems.
Pharmaceutical Development Initiatives
Eight companies are developing novel therapeutic approaches across diabetes and cardiovascular indications:
For diabetes management, Endo Axiom (New South Wales) received the largest pharmaceutical award of $1.079 million for type 1 diabetes treatments, while ProGenis Pharmaceuticals (Western Australia) secured $370,000 for type 2 diabetes therapeutics.
Diabetic complications are being addressed by Anaxis Pharma (Victoria) with $333,000 for diabetic kidney disease, Aspecthera (Tasmania) with $500,000 for diabetic retinopathy, and Inosi Therapeutics (Victoria) with $968,000 for additional diabetic kidney disease solutions.
Cardiovascular-focused pharmaceutical development includes Argenica Therapeutics (Western Australia) with $1 million for acute ischaemic stroke treatments, Atherid Therapeutics (Western Australia) with $750,000 for atherosclerotic cardiovascular disease, and Nanomedx Pty Ltd (New South Wales) with $750,000 for peripheral arterial disease therapeutics.
Industry Partnership and Support
The government investment has catalyzed significant additional private sector engagement, with the funded projects attracting more than $17 million in additional contributions from industry partners. This collaborative approach creates nearly $30 million in total support for Australian life science innovation.
MTPConnect CEO Stuart Dignam highlighted the strategic importance of domestic scaling: "We want to see these homegrown innovations scale in Australia first rather than offshore, and drive sovereign success which will power local job creation and improve health outcomes for Australians and others around the world."
Comprehensive Acceleration Support
Beyond financial investment, the 14 selected companies will receive ongoing acceleration support through mentoring and specialist advice from MTPConnect, along with guidance from industry impact partners CSL and Roche Diagnostics. This comprehensive support structure aims to leverage global industry expertise to enhance the success probability of participating start-ups and SMEs.
The funding announcement was made at the BIO International Convention in Boston, emphasizing Australia's commitment to global leadership in biotechnology innovation. Notably, 50% of the funded SMEs are organizations led by women, significantly exceeding typical representation of women in senior management roles within STEM industries in Australia.
Dignam emphasized the critical timing of this support: "Access to funding remains the biggest challenge for start-ups and innovators. The capital markets, especially when you're at an early stage with your innovation, are particularly tough – and now they have heightened global business uncertainty and tariff turmoil to contend with."
