Message from the CEO

As you and your colleagues across life sciences know only too well, developing new medical devices and therapeutics is a formidable challenge. For all of us at MTPConnect, it has been our pleasure working with you this year, doing our bit to support Australia’s life science innovators meet the commercialisation challenge.

Our FY2024 Annual Report details our efforts to accelerate the commercialisation of research; providing funding to start-ups and SMEs through our accelerator programs, building sector capabilities and cementing collaborations between industry and research to help bring life-saving medical products from bench to bedside.

All told, our programs have injected $152 million into the sector, supporting 199 life science projects. We have seen:

1,696 technologies progressed
374 products released to market
931 new patents, trademarks and licences registered
2,447 jobs created.

And beyond the direct funding we’ve provided, with substantial additional industry contributions and flow-on external investments, MTPConnect has so far contributed to over $1.9 billion flowing into Australia’s life sciences sector.

These outcomes have been achieved on the back of an enormous amount of work from the dedicated MTPConnect team members across Australia. In fact, we’ve delivered 89 MTPConnect-led events this year, here and internationally.

So, I would like to acknowledge our talented team and their passion for Australia’s life science sector with a ‘Take Twelve’ highlights for 2024:

Opened a new $28.5 million Targeted Translation Research Accelerator - Drugs and Devices to support SMEs to commercialise innovative medical products to better treat cardiovascular disease and diabetes.
Launched the Biomedical AI Sprints Accelerator with ARMHub to help high growth biomedical companies harness the power of data and artificial intelligence.
Welcomed 48 fascinating guests for 18 episodes of the MTPConnect Podcast reaching 95 countries and topping 64,000 downloads!
Went global, leading four international delegations to major industry conferences in US, Korea and Taiwan and actioning cooperation agreements with the Korea Health Industry Development Institute (KHIDI), Medical Alley and Biocom California.
Partnered with AusBiotech to deliver a first-ever national Summit in Canberra to shape the future of the life sciences sector with a unified voice.
Launched a new 12-month Australian Clinical Entrepreneur Program in NSW and Victoria in partnership with Australian Society for Medical Entrepreneurship & Innovation (ASME), supported by LaunchVic and NSW Health.
Started work supporting start-ups and SMEs as part of the national Industry Growth Program.
Released blockbuster reports – delving in to the opportunities for Australia as a global hub for radiopharmaceuticals with the Mines to Medicines paper, exploring the size and scope of Australia's clinical trials sector and sharing the successes and impacts of our TTRA diabetes and cardiovascular accelerator program and REDI workforce and skills initiative.
Saw Queensland-based TTRA awardee BiVACOR announce a successful first in human implantation of its Total Artificial Heart
WA’s government confirmed additional funding to expand activities of the WA Life Sciences Innovation Hub in a partnership between MTPConnect, the WA Government and the University of Western Australia.
AAMRNet continued to play a leading role in Australia's AMR policy dialogue through submissions to Australian Government inquiries, attendance at the major United Nations AMR meeting in New York City and hosting a multi-stakeholder workshop in Canberra to build the case for a subscription model for Australia to improve access and R&D into novel antimicrobials.
The Global Market Navigator program wrapped-up in Adelaide supporting 10 innovative healthtech companies to expand their global footprint.

We are proud of what we have been able to achieve this year, in collaboration with hundreds of companies and organisations and the people making a difference within them, and just as excited about what we can do in 2025 and beyond.

I would also like to acknowledge the contribution of Deb Sippitts, our Senior Communications Manager as we bid her farewell after almost three years with the team. Deb has been instrumental in profiling the valuable impact of our MRFF programs through a range of communication activities including webinars, reports and case studies. We wish her all the best for the future.

Take care and all the best for the festive season.

Kind regards,

Stuart Dignam
Chief Executive Officer

MTPConnect & Industry News

Delivering $7.4 Billion Impact to Australia's Life Sciences Sector
Developing new medical devices and therapeutics is widely recognised as a formidable challenge - it is risky, expensive and commercial returns can take decades to be realised. MTPConnect has continued its work across FY2024 supporting Australia’s life science innovators to meet the commercialisation challenge, providing funding through our accelerator programs, building sector capabilities and cementing collaborations between industry and research to help bring life-saving medical products from bench to bedside. Read all about our work, achievements and impact in the 2024 Annual Report now!

Visit Opens Up Australia-Taiwan Biotech Collaboration Opportunities
Our CEO Stuart Dignam recently visited Taiwan as a guest at the Healthcare Plus Expo Taiwan at the Taipei Nangang Exhibition Center and took the opportunity to make new connections with life science leaders from across the Asia Pacific. He also met with Taiwan Bio Industry Organization (Taiwan BIO), connected with the team at the Biotechnology and Pharmaceutical Industries Promotion Office (BPIPO) and attended the launch of the Australia New Zealand Chamber of Commerce in Taiwan (ANZCham Taiwan) 2024 White Paper in Taipei. Read on...

MTPConnect Welcomes Next Steps in Australia’s R&D Performance Review
MTPConnect welcomed the Australian Government’s announcement of the Terms of Reference for the strategic review into Australia’s R&D system and the independent expert panel charged with leading it. MTPConnect CEO, Stuart Dignam, says now is the time to ensure our innovation ecosystem is fit for purpose. “We look forward to working with the Expert panel to share our organisation’s many years of independent experience supporting the development of home-grown and cutting-edge medical technology, biotechnology and pharmaceutical innovations and successfully driving better industry and research collaboration.”

Start Making Plans with MTPConnect’s 2025 Conference Calendar
MTPConnect has developed a program of international conference delegations, site visits and activities for 2025 to help you and your company access international markets and global supply chains. Our international activities are backed by strategic cooperation agreements in priority markets and are focused on putting you in front of international customers and investors.
They also promote the strengths and capabilities of Australian medical technology, biotechnology, pharmaceutical and digital health innovators to the world. Start planning your international outreach activities and budgets and add these dates in your diary for 2025!

New Podcast Episode Features BiVACOR's Dr Daniel Timms
In the year's final episode, we meet Dr Daniel Timms, the Australian biomechanical engineer behind BiVACOR, who has dedicated his life to developing a titanium Total Artificial Heart (TAH) to restore the lives of people with end-stage heart failure. In 2024 Daniel made history in Texas, with the first successful implantation of the titanium heart into a patient awaiting a heart transplant, as part of an FDA feasibility study. MTPConnect’s Targeted Translation Research Accelerator program has been supporting BiVACOR ’s development of a more portable external controller to allow for long-term use with the heart. Listen to the episode!

ASHRA Partnering Summit 2024 – A Tangible Impact Over Three Years and Partnering for Impact
The Australian Stroke and Heart Research Accelerator (ASHRA) Partnering Summit – jointly hosted by ASHRA and MTPConnect’s Targeted Translation Research Accelerator program – was held in Sydney recently. The event highlighted ASHRA's vision and outcomes over the last three years and its commitment to doing research differently. Other sessions included valuable and thought-provoking First Nations panel on cardiovascular equity and the benefits and palpable value of partnering for impact.

Registrations open for new Victorian Commercialisation Training Program
Registrations are now open for a new training program, 'Commercialisation Training for Medical and Med Tech Researchers' led by AAMRI VIC in partnership with Swinburne University of Technology and MTPConnect. With a specific focus on the pre-seed stage of research innovation, training program will equip early career researchers with fundamental knowledge in research commercialisation and the opportunity to partner with industry to progress their ground-breaking research ideas. If you are a researcher in a Victorian MRI register here.

Consider BioCom California's Partnering and Investor Conference
Have you heard about Biocom California’s 3 day Global Life Science Partnering & Investor Conference near San Diego (Torrey Pines) on Feb 25-27 2025? The event brings 600 people together including investors, representatives from the multinational strategics and C-suites from emerging companies with the aim of progressing deals. Through an MOU made earlier this year, MTPConnect and Biocom California have committed to working closely together to support the growth of life sciences companies, and this conference has been identified as an opportunity for Australian companies to consider. Find out more!

Connect with the Adelaide Intermediary Program's Fee-Free Services
Do you need to elevate your research impact, build connections and access advice to identify funding opportunities? MTPConnect's Adelaide Intermediary Program team will be working from the Tonsley Innovation District on the first Thursday of each month for drop-ins or one-on-one consultations. Access the fee-free services of the program now and book a meeting.

Join the MTPConnect Team!
MTPConnect is seeking an Operations Coordinator, WA. This is a newly established role providing comprehensive operational support to the WA Life Sciences Innovation Hub. Applications close 5 pm AWT on Wednesday 15 January 2025. If this is you or you know someone who would be interested, visit our careers page to download the PD and apply!

Register your interest to join MTPConnect's 2025 medtech delegation to US

Sector Snapshot

ANDHealth has partnered with The Royal Melbourne Hospital as Innovation Partner
Artrya has achieved a milestone with medicare coverage for its Automated Plaque Analysis now available nationwide in US
Moderna has launched its new vaccine facility at Monash Technology Precinct in Clayton - Southern Hemisphere’s only commercial-scale mRNA manufacturing facility
Breakthrough Victoria launched a groundbreaking fellowship program to boost research entrepreneurship
AusBiotech and BioNSW have signed a Memorandum of Understanding (MOU) to deepen collaboration
FivepHusion has secured an exclusive option for the ResectAssist™ Platform for the localised delivery of cancer drugs into solid tumours
The Medical Technology Association of Australia (MTAA) has announced the appointment of Liz Carnabuci as the new Chair of the MTAA Board
Former CSL CEO Paul Perreault has been appointed a strategic adviser to Microbio to support the rapid commercialisation and expanded market access for its sepsis diagnostic InfectID™
Micro X has secured a $25M contract with US Advanced Research Projects Agency for Health (ARPA-H) to develop a micro sized full body CT scanner
The Australian Government has appointed new members to the National Health and Medical Research Council (NHMRC) for 2024 to 2027
DHL Supply Chain has invested over $46m to create the largest automated life sciences warehouse footprint in the Southern Hemisphere
NSW Government has announced a new plan to unlock the full potential of the Tech Central Innovation District (Tech Central) – Australia’s largest technology and innovation hub
Read MTPConnect's latest snapshot report on Australia’s Clinical Trials Sector released in June 2024
Find out how Australia is ready to play a leading role in the rise of the global radiopharmaceutical industry with MTPConnect's discussion paper, 'From Mines to Medicines. Australia’s Radiopharmaceuticals Future', outlining a national roadmap to maximise this opportunity
The results are in - read MTPConnect's TTRA impact report, ‘Transforming health outcomes for diabetes and cardiovascular disease in Australia – Interim report on impacts of the first Targeted Translation Research Accelerator’
Read the report from MTPConnect and its Australian Antimicrobial Resistance Network (AAMRNet): Fighting superbugs: Ensuring Australia is ready to combat the rise of drug resistant infections
Read the National Action Plan to Build Australia’s Diagnostic Technology Sector
gemaker's website is a great resource for the innovation and commercialisation sector - subscribe to gemaker's Monthly Insights newsletter for researchers, inventors and innovative businesses
Join the mailing list of the new Victorian Medtech Skills and Device Hub, bringing together local businesses, universities and education providers to accelerate Victoria's medtech sector and deliver the workforce of the future

Sector Opportunities

Applications are open for the MedTech Innovator Asia Pacific 2025 Accelerator Program. Don't miss out on the opportunity to elevate your start-up to the next level. Deadline 15 January 2025
Applications for the Specialisation Courses that are part of the free NSW Health Commercialisation Training Program are now open. These courses are aimed at more mature commercialisation projects/early stage companies. Find out more in the info session on 6 January 2025
Australia's Cell and Gene Catalyst is calling for Expressions of Interest from professionals interested in joining their working groups. The Catalyst is a national joint venture co-led by AusBiotech and Medicines Australia, which aims to accelerate the cell and gene industry in Australia. Closes Wednesday 15 January 2025
AAMRI is calling for Vic Early-Mid Career Researchers interested in taking part in a new commercialisation training program. It's designed to build your knowledge and skill in the pre-seed stage of your research journey. Places are FREE but are limited - register for the 2025 program now! Supported by MTPConnect and Swinburne University of Technology
Apply to enter the Start-up Pitch Competition run by the Incubator for Antibacterial
Therapies in Europe at the AMR Conference in February 2025. Ten ventures will be shortlisted to pitch for a chance to win €10k. Deadline is 6 January 2025
Breakthrough Victoria has launched the Breakthrough Fellowship program, to ignite research entrepreneurship across Victoria, addressing critical market gaps and aiming to cultivate the next generation of start-up founders from Victorian universities. Up to $150,000 is available to start-ups. Apply now!
The MRFF 2024 Rapid Applied Research Translation grant opportunity is now open. This initiative supports the translation of research evidence into clinical practice and better quality of care for patients by encouraging collaborations between academic researchers, health service providers, consumers and other end users on projects to improve health care delivery, service and systems sustainability
The Major Research and Innovation Application Support (MRIAS) Program provides in-principle financial support for Western Australian grant applications being submitted to nationally and internationally competitive grant funding rounds to boost their chance of success. External Program Eligibility Forms due: 10 January 2025. Applications close 17 January 2025
The Innovation Fellowships 2024-25 program is designed to encourage talented Western Australians to enhance their innovation knowledge, skills and experience, in conjunction with experts who will supervise and mentor them, while developing an innovation of significance to the health and/or wellbeing of the WA community. Applications close 21 February 2025
The Innovative Solutions – Precision Health program aims to support the development and advancement of precision health innovations of significance to the health and/or wellbeing of the WA community. Applications due 27 March 2025
Start-ups and entrepreneurs in the Northern Territory - apply now for the Business Innovation Program and receive up to $30,000 in government grant funding, $2,000 in advisory services from a pre-approved advisor, and $10,000 for expenses incurred in commercialising your innovation. Applications close 30 June 2025
The Future Health Research and Innovation (FHRI) Fund Enabling Scheme aims to increase the scale and excellence of health and medical research and innovation in WA by supporting accessible local infrastructure. Applications close 4 March 2025
The Industry Growth Program provides support for innovative SMEs to commercialise and grow their business within the National Reconstruction Fund priority areas, such as medical science. Get connected to an Industry Growth Program adviser who will provide tailored advice to support your commercialisation and/or growth project. And you may be eligible to apply for further funding
FundWA Open Door initiative provides local founders with the opportunity to discuss fundraising, or pitch to a member of our team. No warm introduction needed, just apply
CSIRO Kick-Start is a year-round initiative providing matched funding support for innovative Australian start-ups and small businesses, with access to CSIRO’s research expertise and capabilities to help grow and develop their business
Check out the APR.Intern internships available in the medtech and pharma sector!
Keep up with funding opportunities and subscribe to the monthly MRFF newsletter, from the Australian Government Department of Health and Aged Care
Do you have a great idea for a medical or assistive device and need R&D assistance? Connect with MDPP

Events

6 January 2025 - NSW Health Commercialisation Training Program - Info Sessions (online)
12-13 February 2025 - Science Meets Parliament 2025, Science & Technology Australia (Canberra)
25-27 February 2025 - Global Life Science Partnering & Investor Conference, BioCom California (La Jolla, California US)
7 March 2025 - Women in Life Sciences Luncheon, AusBiotech (Sydney)
12-13 March 2025 - ARC APAC Summit 2025 (Melbourne)
18 - 19 March 2025 - Life Sciences Summit, Biotech NZ & NZTech (Wellington, New Zealand)
7-9 May 2025 - BIO KOREA Conference (Seoul, Korea)
16 May 2025 - Connecting Women Lunch, BioMelbourne Network (Melbourne)
19 May 2025 - BPD Annual Conference (Sydney)
16-19 June 2025 - BIO Convention (Boston, USA)
5-8 October 2025 - The MedTech Conference (San Diego, USA)
19-22 October 2025 - HLTH Conference (Las Vegas, USA)

To see what industry events are coming up in 2024, visit our events page.

Case Study Showcase | Nanotherapy Gives New Hope in Tackling Peripheral Artery Disease – Diabetes’ Silent Killer

Researchers at the University of Sydney have developed a potential new treatment for peripheral arterial disease, a common circulatory condition that causes a narrowing of arteries in the legs and feet, which often leads to amputations in acute cases. Find out how translational funding from MTPConnect's TTRA program has enabled the team to spin out a company, start preclinical studies and seek further investment.

Sector Profile: Snowed Under Solutions

Snowed Under Solutions specialises in creating websites for biotech and life sciences. Just like in science, creating the right formula is imperative. Your website needs the right mix to humanise the technical and complex, connecting you to those who matter most. We work with early to late-stage biomedical start-ups focused on life sciences, biotech & health. Learn more in our Sector Directory.