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.

 

Background

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.

 

Objectives

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

 

Funding

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:

 

Eligible Applicants

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.

 

Timing

Biomedical Translation Fund applications are open on an ongoing basis.

 

Application Process

Send your applications to

Brandon Capital Partners
Alexandra Giannakopoulos
Office Manager
[email protected]
(03) 9657 0700

 

OneVentures Management
Dr Amir Zalcenstein
Investment Manager
OneVentures
[email protected]
(02) 8205 7379

 

BioScience Managers
Matt McNamara
Chief Investment Officer/Director
[email protected]
(03) 9618 8248

 

Recipients

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 dev