Posted by Michael Wonder on 03 Aug 2016
New biomedical fund to capitalise on our research and entrepreneurial strengths
3 August 2016 - A new fund to accelerate the development and commercialisation of Australian biomedical discoveries is now officially launched.
A new fund to accelerate the development and commercialisation of Australian biomedical discoveries is now officially launched.
Minister for Health and Aged Care Sussan Ley and Minister for Industry, Innovation and Science Greg Hunt today announced the $500 million Biomedical Translation Fund (BTF) was open for applications from private life sciences fund managers seeking to participate.
Ms Ley said the Government’s $250 million investment in the BTF would be dollar-matched by private sector co-investment.
“This investment will ensure the most promising discoveries from world renowned, innovative Australian health and medical research will gain access to institutional growth capital to be turned into better drugs, better devices and better health outcomes for Australians,” Ms Ley said.
“The fund will also help our research experts tap into corporate investment networks to participate in the growing global market for developing treatments, therapies and cures for diseases worldwide.”
