Grants and funding, Manufacturing News, Medical Manufacturing

WA med-tech innovators awarded new grants

Three WA med-tech manufacturers are among innovators that have been awarded a total of $5 million in grants.

The grants come through the State Government’s successful Future Health Research and Innovation (FHRI) Innovation Seed Fund.

Medical research minister Stephen Dawson said the funding is intended to support local innovators to fast-track “world-leading ideas to the market”.

“We are keen to position WA as a global leader in medical research and innovation and the Innovation Seed Fund is an important cog in our strategy to make this happen,” said Dawson.

“Congratulations to all the recipients on their efforts and hard work that have been recognised through this round of funding. Your projects will contribute towards the ongoing evolution of the health and medical landscape in WA.”

For early to intermediate-stage start-ups, the Innovation Seed Fund grants help advance innovation initiatives and better position them to attract further investment from traditional funding sources.

WA Innovator of the Year 2022, Neurotologix, is among 11 innovators awarded funding, receiving $500,000 to further enhance its world-first Remote Oculography Monitoring Informatics (ROMI) system.

ROMI is an at-home remote patient monitoring system for dizziness and vertigo, allowing clinicians access to critical information that had previously been unavailable.

Australian Institute of Robotic Orthopaedics Pty Ltd received $479,251 to support the development of Precision Laser-Assisted AIRO-x™ Knee Implant for Advanced Osteoarthritis.

This will pave the way to local manufacturing, job creation, and regulatory approval.

Como-based company REX Ortho also received $500,000 to support the development of the F-REX Screw, an expandable screw designed to improve outcomes for hip fracture patients and significantly reduce the need for revision surgeries.

Cardiovascular disease is responsible for nearly 30 per cent of deaths in WA, and advanced manufacturer CoraMetix has been awarded $500,000 to support research into the next generation of 3D-printed heart valves.

The Cook Government established the productive FHRI Fund in 2020, which is backed by the State’s almost $1.8 billion sovereign wealth fund.

This has resulted in nearly $250 million being available over the next four years to support health and medical research and innovation in Western Australia.

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