Up to $250 million is available from the Biomedical Translation Fund to translate Australian health and medical research into commercial reality.
Biomedical Translation Fund
The Biomedical Translation Fund is an equity co-investment venture capital programme announced in the National Innovation and Science Agenda to support the development of biomedical ventures in Australia. The Biomedical Translation Fund will help translate biomedical discoveries into high growth potential companies that are improving long term health benefits and national economic outcomes.
The Biomedical Translation Fund (BTF) Programme policy objectives are:
- to invest in promising biomedical discoveries and assist in their commercialisation
- by addressing capital and management constraints, to encourage the development of companies which are commercialising biomedical discoveries.
The Australian Government will license one or more private sector fund managers and provide Commonwealth Programme Capital, to be at least matched by Private Capital raised by private sector fund managers, to establish Licensed Funds to invest in and support the development and commercialisation of Australian Biomedical Discoveries.
The Biomedical Translation Fund will make investments in promising discoveries, injecting the necessary funds to progress commercialisation.
A selection process will analyse the merits of proposals, including the expected costs and benefits.
Biomedical Translation Fund (BTF) Managers
The Biomedical Translation Fund (BTF) has announced the three experienced venture capital fund managers to help bring biomedical discoveries from Australian start-ups to market.
The fund managers will:
- invest in promising biomedical discoveries to help commercialise them
- address capital and management constraints to encourage the development of companies who are commercialising biomedical breakthroughs.
The three BTF managers announced are:
- Brandon Capital Partners
- OneVentures Management
- BioScience Managers.
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 Fundcompany 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.
Applications are now open.
Check out our sample application form below for the sort of information you will be required to provide.
Send your applications to
Brandon Capital Partners
(03) 9657 0700
Dr Amir Zalcenstein
(02) 8205 7379
Chief Investment Officer/Director
(03) 9618 8248
The Turnbull Government is helping to fund a revolutionary artificial heart technology that has the potential to save the lives of millions of people worldwide who cannot access heart transplants.
Through the Government’s Biomedical Translation Fund (BTF), venture capital firm OneVentures will invest in BiVACOR, an Australian company that is developing a rotary Total Artificial Heart (TAH) device that could provide a life-saving solution for individuals requiring a new heart.
Through the BTF the Government and private investors will provide over $2.6 million to OneVentures for investment in development of the external TAH controller in Australia.
The technology has the potential to change the need for heart transplantation, transforming the outlook for people with heart disease worldwide.
The BTF consists of at least equal parts Commonwealth and industry funding. It is managed by private sector fund managers who direct investment to commercialise promising Australian biomedical research.
In addition to the funding for BiVACOR, a number of other investments have recently been made through the BTF:
- $1.5 million invested by BioScience Managers in Avita Medical Ltd for improved skin regeneration through a unique process using the patient’s own skin;
- $3.2 million invested by Brandon Capital Partners in Aravax Pty Ltd for a novel form of peptide immunotherapy to treat peanut allergy; and
- $1 million invested by Brandon Capital Partners in GI Therapies Pty Ltd to develop a device to treat a range of gastrointestinal motility disorders.
Minister for Health Greg Hunt said the investments benefited Australian companies and had the potential to improve the health and wellbeing of people across the country and around the world.
“These companies are modern day pioneers bringing hope to people everywhere suffering with diseases, disorders, allergies, and injuries.” Minister Hunt said.
Minister for Jobs and Innovation Michaelia Cash said the BTF assists businesses at their most critical point—where they have a great idea but lack the funds to develop and get that idea to market.
“This tremendous work highlights the impact of innovation – from the generation of new products to making an economic impact, the creation of new jobs and on to helping create a stronger and healthier country,” Minister Cash said.