Medical technology and pharmaceutical manufacturing in Western Australia have received a boost, with five local life sciences companies receiving $450,000 in funding to commercialise their innovations.
The WA Medical Technology and Pharmaceutical (MTP) Manufacturing Voucher Program aims to accelerate the development and manufacturing of medical technology and pharmaceutical products in WA, such as medical devices, diagnostics, biologics and pharmaceuticals.
“The McGowan government is committed to investing in the promising ideas that are generated in our state, as what we produce in Western Australia ends up benefiting the world,” WA State Development, Jobs and Trade minister Roger Cook said.
“We have an enormous opportunity to capitalise on home-grown medical technology to help diversify the economy and create more manufacturing jobs.
“The five successful recipients of this funding represent the type of cutting-edge research and technology that our state is capable of developing, and we want to support these companies to bring their products to market.”
The successful projects will establish capability that does not currently exist in WA, and will enable the manufacturing of MTP products that will help to diversify the economy.
Beyond WA, the projects deliver solutions for global health and medical needs and represent an export opportunity for the state.
The successful recipients are:
- OncoRes Medical – enabling clinical feasibility of a diagnostic imaging device for cancer surgery
- Proteomics International – For manufacturing a next generation in vitro device to predict diabetic kidney disease
- SynGenis – establishing certified oligonucleotide manufacturing capabilities in WA
- VeinTech – developing its ground breaking VeinWave product in WA
- VitalTrace – developing Perth into Australia’s flagship precision healthcare biosensor development and manufacturing hub.
As part of the application process, the successful recipients committed to matching the funding received through the program.
The program was delivered by the MTPConnect WA Life Sciences Innovation Hub, which is currently co-funded through the WA government’s New Industries Fund, industry growth centre MTPConnect and the University of Western Australia.
The New Industries Fund was established to support and accelerate new and emerging businesses to diversify the Western Australian economy, create local jobs and advancing global health and medical solutions.
More information about the program is available here.