Healthtech startups raise over $8 million from NSW Department of Health
Summary
“This year’s winners offer a range of pioneering devices with the potential to transform the delivery of health care and deliver life-saving benefits for patients,” said Skinner The four recipients of the MDF fund are: Elastagen – a skin regeneration and wound repair product based on its unique tropoelastin-based biomaterial platform. The startup has received $1.3 million from MDF, which will contribute to the team’s expansion, and will also go towards manufacture of a device for certification by the Australian Therapeutic Goods Administration. Breathe Well is the third team working out of ATP Innovations and is also responsible for educating patients on how to attain the best breast cancer treatment results. Since the first round of funding in 2013, the MDF has helped multiple companies establish successful products, including Saluda Medical, which received $5 million last year and is about to celebrate the 12-month anniversary of its first pain relief device being implanted in a NSW patient. “The NSW Government’s approach of supporting medical innovation and increasing the uptake of locally produced devices in the health system is not only cost effective, but contributes to improved patient outcomes in our own backyard.” Image: Minister for Health Jillian Skinner and NSW Chief Scientist, Professor Mary O’Kane with MDF recipients.