On 30 June 2025, Australia’s Federal Government announced a targeted investment of $12 million to support 14 domestic biotech and MedTech companies developing innovative medical devices and therapeutic solutions for cardiovascular disease and diabetes. The funding has been allocated through MTPConnect’s Targeted Translation Research Accelerator program, part of the Medical Research Future Fund.
The funding recipients span a range of technologies and applications:
Medical devices:
- CathRx (NSW): $1.1 million for atrial fibrillation solutions
- I D & E (NSW): $1.2 million for ocular drug delivery
- Theia Medical (SA): $1 million for high‑risk coronary artery disease
- Venstra Medical (NSW): $1 million for cardiogenic shock
- Wavewise Analytics (VIC): $997,000 for stroke diagnostics
- ZiP Diagnostics (VIC): $1.019 million for pre‑eclampsia detection
Pharmaceutical treatments:
- Endo Axiom (NSW): $1.079 million for type 1 diabetes
- ProGenis Pharmaceuticals (WA): $370,000 for type 2 diabetes
- Anaxis Pharma (VIC): $333,000 for diabetic kidney disease
Aspecthera (TAS): $500,000 for diabetic retinopathy
- Inosi Therapeutics (VIC): $968,000 for diabetic kidney disease
- Argenica Therapeutics (WA): $1 million for acute ischaemic stroke
- Atherid Therapeutics (WA): $750,000 for atherosclerotic cardiovascular disease
- Nanomedx (NSW): $750,000 for peripheral arterial disease
Combined with $17 million in industry co-funding, the total investment pool exceeds $29 million—boosting the development pipeline and demonstrating strong public–private collaboration
Health Minister Mark Butler emphasised: “This funding will support exciting new treatment and management options for Australians with cardiovascular disease and diabetes… expanding the Australian-made MedTech and biotech sector as part of our vision of a future made in Australia.”
MTPConnect CEO Stuart Dignam added: “We want to see these homegrown innovations scale in Australia first, driving sovereign success, local job creation and improved health outcomes at home and abroad.”
This initiative supports innovations addressing major health burdens—over 2.6 million Australians are affected by these conditions. It also reinforces Australia’s commitment to health technology commercialisation, domestic manufacturing, and reducing reliance on imported solutions.
