News
24 July, 2025
$12M pumped into health tech
THE Australian Government is investing $12 million to develop new Australian-made medical devices and medicines for people with cardiovascular disease and diabetes.
Fourteen Australian startup and innovator companies will receive funding and commercialisation support to develop improved treatments for management of cardiovascular disease and complications of type 1 and type 2 diabetes.
Over 1.3 million Australians live with diabetes, and 1.3 million Australian adults are living with one or more conditions related to heart, stroke, or vascular disease.
Cardiovascular disease is the leading cause of death in Australia, and diabetes is among the top 10.
The biotech and medtech companies were selected through a competitive process by MTPConnect’s Targeted Translation Research Accelerator program.
The funding is awarded through the Medical Research Future Fund program targeting commercialisation of Australian medical research and innovation products for cardiovascular disease and diabetes.
The funded projects have attracted more than $17 million in additional contributions from industry.
Minister for Health and Ageing and Minister for Disability and the National Disability Insurance Scheme, Minister Mark Butler, said this funding will support new treatment and management options for Australians with cardiovascular disease and diabetes.
“Our government is expanding the Australian-made medtech and biotech sector as part of our vision of a future made in Australia,” he said.
“The Federal Government is supporting our health and medical research sector to ensure Australia remains a global leader in this field for decades to come.”
MTPConnect CEO, Stuart Dignam, said they want to see these homegrown innovations scale in Australia first rather than offshore.
“We want to drive sovereign success, which will power local job creation and improve health outcomes for Australians and others around the world,” he said.
“Following an open and rigorous assessment process through our Targeted Translation Research Accelerator program, we’re backing established SMEs, start-ups, and spin-outs in New South Wales, South Australia, Tasmania, Victoria, and Western Australia.”
