The Medical Research Commercialisation Fund has secured a total of $380 million over 3 separate funding rounds in investment capital and membership now includes 50 medical research institutes and research hospitals spanning Western Australia, Victoria, New South Wales, Queensland, South Australia and New Zealand.
The fund's focus is on the medical research field intending to commercialise Australian research locally to improve the economic outcomes that flow from research investments.
The Western Australian Government financial support has led to access to substantial investment in 3 of WA’s medical companies with a commitment of $28.5 million subject to milestones with $27.5 million of this commitment since 2017. This has led to 25 jobs being created in the newly established companies.
OncoRes Medical
OncoRes Medical is an intraoperative imaging technology company that assesses the completeness of tumour removal during surgery. They have been awarded $1 million in funding as part of the Australian Government’s Medical Research Future Fund BioMedTech Horizons program.
Company awards:
- Won the Global Entrepreneur of the Year 2018 in the Pitch@Palace competition that was held at St James Palace, London in December 2018.
- Winner of 2019 Value Award at the Wilson Sonsini Goodrich & Rosati’s 27th Annual Medical Device Conference held in July in Los Angeles.
As the 2019 Value Award winner, OncoRes Medical received a $25,000 non-dilutive cash prize and a profile in an issue of the MedTech Strategist – an internationally renowned medical journal which tracks the latest trends in a constantly evolving medtech marketplace. - Winner of Tech23’s Greatest Potential Award - Australia’s national celebration of deeptech innovation.
- Winner of the Emerging Company of the Year at the 2019 Ausbiotech Conference.
Respirion Pharmaceuticals
Founded in 2018, Respirion Pharmaceuticals is an early-stage biotechnology company focused on developing new treatments for respiratory disease. The company is a spinoff of the Telethon Kids Institute where the technology was developed. The company is developing the technology both in Australia and in the United States.
Company awards:
- Best Presentation in Infection, Microbiology and Immunology at the 13th Australasian Cystic Fibrosis Conference held in Perth in August 2019.
