What is the Biomedical Translation Fund?
The Biomedical Translation Fund (BTF) is a funding provided to companies with venture capital through licensed private sector fund managers. It will help you to develop your biomedical discoveries into tangible products, services and outcomes.
The funding is available through 3 licensed private sector venture capital fund managers. The BTF fund managers screen investment proposals and make venture capital investments. They also provide Australian biomedical companies with the expertise and access to networks to be a success.
Each BTF fund manager will build a portfolio of investments. They’ll invest in companies that develop and commercialise innovative science to improve the health and wellbeing of Australians.
The government announced this fund in the National Innovation and Science Agenda.
The BTF Program policy objectives are to:
- invest in promising biomedical discoveries and assist in their commercialisation
- encourage the development of companies commercialising biomedical discoveries by addressing capital and management constraints
A total of $501.25 million is available through the Biomedical Translation Fund. A total of $250 million is from Commonwealth capital and $251.25 million is from private sector capital.
Eligible Biomedical Translation Fund Projects
The program supports biomedical discoveries that commercialise health and medical research outcomes. This will improve the health and wellbeing of Australians through targeted investment in prevention, diagnosis and treatment.
The discoveries can be therapeutic, medical or pharmaceutical. They can be a product, process, service (including digital health services), technology or procedure.
Biomedical Translation Fund Managers
The Biomedical Translation Fund has announced the three experienced venture capital fund managers to help bring biomedical discoveries from Australian start-ups to market.
The Biomedical Translation Fund managers are:
The Biomedical Translation Fund focuses on supporting early stage companies that are (or will be) developing and commercialising biomedical discoveries, for the health and economic wellbeing of Australians.
Biomedical discoveries include: therapeutic, medical or pharmaceutical products, processes, services (including digital health services), technologies or procedures that represent the application and commercialisation of the outcomes of research that serve to improve health and wellbeing. It does not include alternative or complementary medicine, or traditional medicine.
At the time of the first investment, an eligible Biomedical Translation Fund company must have:
- a majority of its employees and assets inside Australia, or will use the whole of the initial investment within Australia, and
- an average annual revenue over the previous two years below $25 million per year.
Biomedical Translation Fund applications are open on an ongoing basis.
Send your applications to
ProTA Therapeutics Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has committed $10 million to ProTA Therapeutics to advance the development of a promising new treatments of food allergies in children and adults.
Rex Bionics (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has invested $7.5 million to Rex Bionics to develop a hands-free robotic device to help people with severe disability to walk, exercise and rehabilitate.
Saluda Medical (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has invested $3.3 million to Saluda Medical for neuromodulation technologies for people suffering from chronic back pain and other debilitating conditions.
SummatiX Pty Ltd (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has committed $10 million to SummatiX Pty Ltd for data aggregation and commercialisation services for makers of ‘smart’ medical devices.
Global Kinetics Corporation (MRCF-BTF Fund)
Brandon Capital Partners’ MRCF BTF Fund has committed $7.75 million to Global Kinetics Corporation to accelerate the development and commercialisation of a wrist-worn device that measures symptoms and provides clinical reports to assist with planning routine care for Parkinson’s patients.
BiVACOR Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has invested $2.6 million to BiVACOR, a company that is developing a rotary total artificial heart device that could provide a life-saving solution for individuals requiring a new heart.
Avita Medical Ltd (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has committed $1.5 million to Avita Medical Ltd for improved skin regeneration through a unique process using the patient’s own skin.
Aravax Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners’ MRCF BTF Fund has invested $3.45 million into Aravax Pty Ltd for a novel form of peptide immunotherapy to treat peanut allergy.
GI Therapies Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners’ MRCF BTF Fund has invested $1.3 million to GI Therapies Pty Ltd to develop a device to treat a range of gastrointestinal motility disorders.
Certa Therapeutics Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners’ MRCF-BTF Fund has committed $22 million to Certa Therapeutics to progress the clinical development of a drug to treat kidney disease.
Paragen Bio Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has committed up to $2 million to Paragen Bio Pty Ltd, a company that is developing treatments to target autoimmune diseases using the beneficial proteins found in parasitic hookworms.
Three promising new treatments – one for cystic fibrosis, the second offering relief for women who have survived cancer, and the third to treat fibrosis – have been selected for commercial development assistance through a venture capital fund backed by the Liberal National Government.
The $500 million Biomedical Translation Fund (BTF) consists of equal parts Commonwealth and business funding and is operated by three private sector fund managers who select promising Australian biomedical ideas for BTF support.
One of the managers, Brandon Capital Partners, through its Medical Research Commercialisation Fund BTF, has allocated $20 million from the BTF to fund clinical trials and product development of Respirion Pharmaceuticals’ novel antibiotic adjuvant.
Respirion’s therapy is an inhaled version of the existing antibiotic to treat cystic fibrosis, combined with an agent which boosts the effect of the antibiotic. The cystic fibrosis bacteria, pseudomonas aeruginosa, exists in protected biofilms which makes infection very difficult to eradicate. Respirion’s novel formulation helps to break down the biofilms, which will improve the efficacy of the antibiotic.
This therapy represents a powerful new tool to improve treatment of infection, and also a cystic fibrosis patients’ quality and duration of life. Cystic fibrosis causes increased inflammation and infection in the lungs and ultimately leads to respiratory failure.
Another of the three fund managers, OneVentures, has allocated $4 million from the BTF towards clinical trials and development of a therapeutic device that could relieve the suffering of millions of women.
Madorra Pty Ltd’s device treats problems associated with vulval and vaginal atrophy. The initial target group will be women who have survived cancer where hormone replacement therapy (HRT) is not a viable treatment option. Ultimately, the non-hormonal, non-invasive treatment will be aimed at post-menopausal women as a substitute to HRT, which has become less popular due to health concerns.
OneVentures has, to date, also invested $17.2 million from the BTF for development of a drug to treat fibrosis. Fibrosis is a disease with a high morbidity rate which affects many organs, for which there is no effective treatment. It particularly affects the lungs, kidneys and liver.
Minister for Health, the Hon Greg Hunt MP, said the Biomedical Translation Fund has both social and economic benefits.
“The BTF combines Government and private support with industry expertise in choosing promising commercial ventures for development,” Minister Hunt said.
“These projects will potentially improve the quality of life not only for affected Australians, but for millions of people worldwide.”
Minister for Industry, Science and Technology Karen Andrews said the Biomedical Translation Fund provides a significant boost to Australian innovation and commercialisation.
“The BTF shows that Australia has the resources and expertise required to assist our world-leading research organisations deliver life-changing outcomes for patients through commercialising great Australian ideas,” Minister Andrews said.
“The investments of fund managers in these three innovative companies producing leading-edge technologies is a very positive signal for the Australian innovation system.
“As one of the Liberal National Government’s key initiatives, the Biomedical Translation Fund is just one way that we are supporting small and medium businesses to take their research from the lab to the marketplace, which improves individuals’ lives.”
The Biomedical Translation Fund is an equity co-investment venture capital program announced by the Coalition Government in the $1 billion National Innovation and Science Agenda, to further drive investment into research and develop scientific, mathematical and technical skills of the younger generation. This is part of our strategic economic plan to help create 1.25 million additional Australian jobs in the next five years.
Check out our sample application form below for the sort of information you will be required to provide.