MTPConnect set to back startups in heart disease and diabetes

MTPConnect, Australia’s life sciences innovation accelerator, will inject some much-needed funding and support for Australian small to medium enterprises (SMEs) to commercialise innovative medical products to better treat cardiovascular disease and diabetes when it rolls out new investment through its Targeted Translation Research Accelerator (TTRA).

An initiative of the Medical Research Future Fund, the program will accelerate promising drugs and devices focused on cardiovascular disease and complications of diabetes (type 1 and type 2). MTPConnect CEO Stuart Dignam said the new investment will open for expressions of interest later this year.

“Our new TTRA initiative, covering both therapeutics and devices, is designed with translation and commercialisation in mind, making all the difference for SMEs with moonshot ambitions,” Dignam said.

“Supporting translation of research into the clinic will also develop domestic research and development (R&D) talent skilled in commercialisation, improve healthcare options and create more jobs in our life sciences sector.

“Our experience running similar accelerator programs has revealed that the value of non-dilutive funding — along with access to industry knowledge, mentoring, market expertise and commercialisation skills — is a powerful multiplier for SMEs that truly boosts their chances of success.

“That’s why we’re delighted to bring industry giants CSL and Roche Diagnostics into the program to ensure our home-grown innovators can tap into the very best of industry expertise and support.”

Victorian medtech startup Nirtek received TTRA backing in 2021 for its groundbreaking device that can identify unstable coronary plaque in arteries and help cardiologists prevent future heart attacks. Nirtek CEO Matthew Hoskin said the support made all the difference.

“With funding and advisory support from MTPConnect’s accelerator, our company has made enormous progress in developing and testing a prototype device and we’re now seeking the next stage of investment to enable us to build and test a complete trial-ready system and conduct our first in-human clinical trial,” Hoskin said.

Kenny Lean, Head of Access and Innovation (Interim) at Roche Diagnostics Australia, said his company was proud to collaborate with MTPConnect on the TTRA program.

“By leveraging our expertise in diagnostics and partnering with Australian SMEs, we aim to drive innovation and commercialisation in the field of cardiovascular disease and diabetes,” he said. “This initiative aligns with our commitment to advancing healthcare through innovative solutions and emphasises our dedication to supporting local talent and improving patient outcomes.”

Professor Bronwyn Kingwell, Research Portfolio Strategy and Therapeutic Area Lead at CSL, added that her company’s support of the accelerator “dovetails nicely with our long-term commitment to supporting Australia’s biotech ecosystem”.

“With the accelerator’s support, we hope to see increased therapeutic development in cardiovascular disease and diabetes to benefit patients in Australia and around the world,” she said.

The TTRA program will call for expressions of interest from SMEs developing drugs and devices later this month.

Image credit: iStock.com/Sergey Khakimullin