Brandon BioCatalyst, in partnership with ANDHealth, selected by the Federal Government to deliver $50m BioMedTech Incubator Program
March 21, 2023
Federal investment creates a combined funding capability of $115m across programs managed by Brandon BioCatalyst & ANDHealth.
Brandon BioCatalyst, in partnership with ANDHealth, has been selected by the Federal Government to deliver the $50m BioMedTech Incubator (BMTI) program.
The investment, from the $20b Medical Research Future fund (MRFF), substantially increases the grant funding available through existing Brandon BioCatalyst and ANDHealth programs to more than $115m.
The BMTI program will leverage the highly specialised selection, assessment and growth capabilities which have been built through CUREator, the Brandon BioCatalyst managed national biotech incubator, and ANDHealth+, the ANDHealth managed national digital health accelerator.
The new BMTI program, which commences later this year, will accelerate the commercialisation of promising Australian biomedical and digital health discoveries, resulting in new jobs, attraction of private capital and ultimately positive impact for patients.
The partnership between Brandon BioCatalyst and ANDHealth provides an unprecedented combination of expertise, spanning early-stage drug development through to cutting edge medical devices and evidence-based digital health technologies.
“I applaud the Federal Government for trailblazing a new model for how innovation and translation are supported in this country,” says Dr Chris Nave, CEO of Brandon BioCatalyst. “In under two years they have provided funding to establish a national incubator of global scale, accessible to any researcher or innovator in the health and medical arena wanting to develop products that have the potential to transform patient outcomes.”
“Australia sits in the top handful of countries for our biomedical capabilities and discoveries, but we have traditionally performed poorly at translating this research into new medicines to improve patient health . Under this new Government-supported model, this collaborative program will provide grant funding like an investor, providing expertise and hands-on support, setting clear development milestones that must be met to receive subsequent funding tranches. This is a powerful new way to fund research translation and if successful, may become an important component of how we fund research in Australia,” Dr Nave continues.
“We’re delighted to be partnering with Brandon Capital to deliver this new grant funding program,” says ANDHealth Managing Director and CEO Bronwyn Le Grice. “Having worked with over 650 digital health companies across Australia, access to finance and digital health domain expertise remain some of the most pressing challenges for our innovators and entrepreneurs. Non-dilutive funding, such as that available under the CUREator and ANDHealth+ programs, and now available on a larger scale through the BMTI, can be critical in supporting companies to navigate the viability gap and succeed in getting their product into the hands of patients and healthcare providers.”
Under BMTI, companies will be able to access up to $5m in non-dilutive funding over a 5-year period to support the translation and commercial development of their biomedical and digital health technologies. In addition to funding, the BMTI grant aims to provide hands-on support to progress Australian innovations to the point where they are commercially attractive to investors or partners.
“We excited to work alongside ANDHealth to fund and nurture the next generation of emerging Australian start-ups to maximise their chances of success,” says Dr Amanda Vrselja, Program Head, CUREator. “At CUREator our purpose is to ensure our most promising research discoveries don’t get lost in academic journals but are instead developed using commercially focussed grant funding to become investment ready. This is the missing link in how translation is supported in Australia.”
Grace Lethlean, General Manager of ANDHealth+ and Chief Product Officer at ANDHealth says, “I’m excited to work with the team at Brandon BioCatalyst on this ground-breaking new Australian Government backed fund, which represents another great investment opportunity for Australian innovators to develop and commercialise onshore and then take Australian-made solutions to the rest of the world.”
ENDS
Note to Editors:
For further information or to arrange an interview, please contact:
Brandon BioCatalyst – Ciara Byrne, Mana Communications, cb@manacommunications.com, +61 41 3519 430
ANDHealth – Amy Miller, WE Communications, amymi@we-worldwide.com, +61 431 072 422
About CUREator
CUREator is a national biotechnology incubator run by Brandon BioCatalyst to support the development of Australian biomedical research and innovations. Funded by the Medical Research Future Fund and Australia’s national science agency, CSIRO, CUREator provides grant funding programs for opportunities spanning from discovery to clinical development. Funding is provided with clear milestone-driven tranches to achieve key value-adding and de-risking development milestones. CUREator works closely with project teams to guide them through the early development phase, offering both scientific and commercial expertise and networks to support projects in meeting key outcomes. We like to think about the program as investors providing grant funding like an investor.
To-date, 23 companies have been supported through CUREator and received $17.4m of funding. Another round of funding is due to be announced next month.
For more information about CUREator visit: https://brandonbiocatalyst.com/cureator/
About ANDHealth+
ANDHealth+ is Australia’s most successful digital and connected health commercialisation and investment readiness program, which will enable 20 selected SMEs to commercialise and scale globally through targeted project funding and specialised support.
Companies which have participated in ANDHealth+ have raised $86.9M in dilutive and non-dilutive financing, impacted over 450,000 patients, delivered 908 commercial pilots, commenced 53 clinical studies and undertaken 26 international market launches.
About Brandon BioCatalyst and Brandon Capital
Brandon Capital is Australasia’s leading life science venture capital firm, with a strong global presence supported by key partnerships and team members across the US and UK. From early-stage seed investment through to expansion capital, Brandon Capital supports life science companies from proof-of-concept through to commercialisation.
Managed by Brandon Capital, Brandon BioCatalyst is a unique collaboration of over 50 leading medical research institutes, investors, and government united by a single purpose: progressing the next generation of medical therapies and technology which improve health and save lives.
www.brandoncapital.vc | www.brandonbiocatalyst.com
About ANDHealth
ANDHealth is Australia’s only organisation specialised in the commercialisation of evidence-based digital health technologies. We work with Australian digital health companies to commercialise and scale their clinical grade technologies through the entire commercialisation pathway, from idea to exit.
ANDHealth’s investment readiness program suite and non-dilutive investment programs prepare companies for institutional investment and global enterprise customers and have been proven to positively impact both the number and maturity of companies in the Australian evidence-based digital and connected health sector.
Since 2018, ANDHealth has supported 650 high-growth-potential digital health companies across Australia and has delivered over 2,000 hours of direct programming to over 1,350 participants across Australia.
