MTPConnect Teams Up with Industry Giants
Life sciences accelerator MTPConnect has partnered with health tech leaders CSL and Roche Diagnostics to launch a $28.5 million Targeted Translation Research Accelerator (TTRA). Backed by the federal government’s $22 billion Medical Research Future Fund, the Australian initiative aims to support startups developing innovative drugs and devices targeting cardiovascular disease (CVD) and diabetes.
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Addressing Australia’s Innovation Gap
Despite Australia’s top 10 global ranking in research, the country falls to 30th in turning that research into tangible outputs. The TTRA seeks to close this gap by providing non-dilutive funding, industry expertise, and commercialization support to SMEs. “By backing Australian SMEs with access to leading industry expertise, as well as funding, we’re maximizing chances for commercialization success and working to lift Australia up the global innovation league table,” Dignam emphasized.
Building Domestic Capability
The TTRA also aims to strengthen Australia’s healthcare sector by supporting the development of treatments for chronic conditions like CVD and diabetes. This initiative builds on MTPConnect’s previous successes, such as their support for Victorian medtech startup Nirtek in 2021, which developed a device to prevent heart attacks.
Professor Bronwyn Kingwell of CSL highlighted the accelerator’s alignment with their commitment to Australia’s biotech ecosystem, hoping to see increased therapeutic development benefiting patients both locally and globally.
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