MTPConnect

Ferronova raises another $6 million to advance image-guided cancer surgery

Adelaide medtech Ferronova has banked another $6 million from returning backers to advance its surgical tracer for cancer, lifting Series A funding to $17.5 million; backer parent UltraGreen.ai floated in Singapore this month.

Also movefm.com.au

Life sciences investor MTPConnect injects $12 million into 14 drug and device startups

MTPConnect's government-backed accelerator program has awarded $12.07 million in non-dilutive grants to 14 Australian drug and device companies, which will also receive mentoring and support from partners including CSL and Roche Diagnostics.

Also SmartCompany·@AuManufacturing

University of Sydney launches $25 million pre-Seed fund for its home-grown startups

The University of Sydney has launched a $25 million pre-seed fund to back ventures spun out of its research, naming five initial investments across carbon capture, diabetes treatment, inhaled medicines and cardiovascular devices.

Navi Medical Technologies Receives FDA Clearance

Navi Medical Technologies gained US FDA clearance for its Neonav catheter guidance system; the Melbourne firm, backed by Breakthrough Victoria, plans a capital raise later in 2025 to fund its American rollout.

MedTech companies join AI accelerator

Three Australian medtech firms, Cortical Dynamics, Microbio and Resonait Medical Technologies, join the Biomedical AI Sprints Accelerator run by ARM Hub and MTPConnect to apply AI and data across their medical products.

Best of the week — the five most popular stories among readers, April 29 – May 3, 2024

Weekly roundup of the outlet's most-read stories: grants for industry bodies, Space Machines' India mission funding, a plastics recycler's Melbourne factory, an Austal ownership debate, and a quantum growth centre.

Applications open for Industry Growth Program, $6.9 million announced for four not-for-profits to assist IGP

Four not-for-profit bodies will share $6.9 million in grants to advise growing small businesses, as the Industry Growth Program opens applications for matched grants of $100,000 to $5 million.

Manufacturing news briefs — stories you might have missed

Manufacturing briefs: Victoria backs a skills program, Titomic supplies an Air France subsidiary, a pool-technology firm hires a sales chief, Bod Science banks a tax rebate, and Amaero completes a placement.

Ferronova secures A$11 million to advance nanotech image-guided cancer therapy

Adelaide biotech Ferronova announced an A$11 million package: an A$8 million round led by Ireland's Renew Pharmaceuticals plus an A$3 million government CRC-P grant, with existing shareholders Uniseed and Artesian also participating.

Government backs LBT Innovations APAS medical equipment

Diagnostic equipment maker LBT Innovations has received a federal government grant via the Medical Future Fund and MTPConnect to develop a smaller benchtop version of its APAS Independence instrument.

Two WA projects win major medtech grants

MTPConnect has awarded grants totalling almost $900,000 to three medtech projects under round four of its MRFF-backed BMTH program, benefiting two WA companies and one Victorian firm.

HealthTech announces acceptance into the government-backed MDPP

Peak Medical's acceptance into the Medical Device Partnering Program is announced, alongside MTPConnect launching a government-funded medtech commercialisation program with partners including Flinders University and Cicada Innovations.

$1M boost for WA medical products manufacturing

Five WA medtech companies receive voucher grants from MTPConnect's WA Life Sciences Innovation Hub, sharing $450,000 matched by $600,000 in co-contributions to advance medical manufacturing projects.

Grants totalling $450,000 awarded to five WA medtech companies

Five Western Australian medtech companies received grants totalling $450,000 under the MTP Manufacturing Voucher Program, delivered via MTPConnect's WA Life Sciences Innovation Hub with government and university backing.

Gov’t backs medical innovation, research with $79m

The federal government has announced $79 million in grants for ANDHealth, MRCF and MTPConnect to commercialise medical research, plus two industry fellowships for researchers, under its Medical Research Future Fund.

Biomedical Translation Bridge Program grants $1m to develop a drug treatment for obesity-related health conditions

Cincera Therapeutics has received a million-dollar Biomedical Translation Bridge grant to advance its Des-1 inhibitor drug for obesity-related metabolic diseases. The Monash and UniSA spin-out previously secured venture funding from the Medical Research Commercialisation Fund.

Also Brandon Capital portfolio·cinceratx.com

Optiscan Imaging in new Melbourne oral cancer trial

OptiScan Imaging has received a million-dollar Medical Research Future Fund grant, via MTPConnect, to run an oral cancer screening trial of its imaging device with Melbourne Dental School patients.

Also Wholesale Investor

OncoRes Medical awarded prestigious research funding

OncoRes Medical received grant funding through the third round of MTPConnect's BMTH program to develop a second-generation imaging device for breast-conserving surgery, the article's profile states.

Also Brandon Capital portfolio·Brandon Capital portfolio·Startup News (WA)

Portable MRI system attracts $1 million development grant

University of Queensland's Centre for Advanced Imaging won a $1 million federal grant, via MTPConnect's BioMedTech Horizons program, to develop a portable MRI system with electronics firm Intellidesign.

Noisy Guts wins $1M federal Biomedical grant

WA medtech Noisy Guts received a $1 million Biomedical Translation Bridge grant to develop its AI acoustic belt for gut disorders, the sole Western Australian recipient among eight funded projects nationally.

Healthtech startup Progressive Medical acquired by Curve

Digital health agency Curve Tomorrow has acquired Perth startup Progressive Medical, opening a WA office and adding its VR surgery simulation and cervical screening apps to Curve's product range.